Cellular-News, quoting IDC India, has reported that Indian Handset market has seen 29 percent year-on-year growth, as total of almost 85 million phones were shipped into India from April 2007 to April 2008 in comparison with 66 Million handsets in same period previous year. In only first quarter, Indians shipped 22 million mobile phone units from overseas markets.
Overall, Nokia retained the top spot with a market share of 52.8%, followed by LG at 10.2%, and Samsung at 8.3% in terms of units shipped during the quarter ended March 31, 2008.
Keeping in view the current situation, Korean Handset manufacture, LG is planning to further invest in its Indian plant to increase its handset production to not only meet the local market requirements but also to serve European and Commonwealth of Independent States (CIS) markets.
It maybe recalled that LG has manufacturing plant in India, China, Brazil and Mexico. The Indian factory sits near Pune, Maharashtra. Last year, LG sold about 80.5 million handsets and we are looking to sell more than 100 million units by the end of this year.