LG Electronics has announced the opening of 100 exclusive mobile handset stores across the country. The company with its enhanced presence in the retail sphere targets to capture around 10 per cent market share in India by the end of this year.
The firm is also on the anvil to expand its retail distribution network from 20,000 dealers to 40,000 in the country to consolidate its third position among the five major players in the market.
“We will open 100 exclusive mobile handset brand stores across the country so that customers can come and feel the new product range,” LG Electronics Business Head Mobile Communication Sudhin Mathur cited.
The firm has allotted a budget of Rs 290 crore for marketing strategies, including investments made for improving visibility.
Targeting a Rs 3,000 crore turnover by the year-end in about Rs 25,000 to Rs 26,000 crore Indian mobile handset industry, LG expects 20 per cent contribution from sales of youth-centric handsets in the range of Rs 4,000 to Rs 8,000.