Recalling its commitment to the Make in India initiative, South Korean electronics major LG recently launched two locally-made smartphones and is set to manufacture 1 million phones in India.
The company will be manufacturing phones at its Noida facility in partnership with GDN Enterprises. The devices, priced at Rs 9,500 and Rs 13,500, were launched by Telecom Minister Ravi Shankar Prasad.
Prasad said that it was an occasion of personal satisfaction for him to witness companies setting up base in India for electronics manufacturing.
LG is the latest entrant to start manufacturing of phones in the country, which has launched 'Make in India' initiative. Several mobile brands, including Micromax, Lava, Gionee, OnePlus and Xiaomi, have started assembling their devices in the country.
India has become one of the fastest growing smartphone markets globally and device makers are optimistic to set up manufacturing units in India to cater to the burgeoning demand.
LG Electronics India Managing Director Kim Ki-Wan said that they want to tap the huge potential for smartphones in the country and the K-series will be the first ones to be manufactured in India.
He further said that the company is optimistic over the new models to drive its growth in the smartphone segment in India.