LG eyes Rs 2,000 cr from smartphones sales in India by 2014

Company is gearing up to launch Nexus 5 in which the software of the phone will have direct updates from Google

Korean handset maker LG expects to clock revenues of about Rs 2,000 crore from sales of smartphones in India by 2014.

"According to GfK, about 50 million smartphones are expected to be sold in India. We are looking at 10% market share in smartphones by 2014.

"We expect 10% of target to come from G2 which should be about Rs 200 crore, from total of about Rs 2,000 crore," LG India's Managing Director Soon Kwon told PTI.

The company has launched a series of smartphones in high-end segments ranging from Nexus 4 in partnership with Google priced at around Rs 26,000 to 4G-ready LG G2.

LG is now gearing up to launch Nexus 5 in which the software of the phone will have direct updates from Google.

Kwoon said the company will look at setting up manufacturing mobile phones in India after meeting its target of 10% market share.

"We will consider manufacturing in India once we reach 10% market share here," Kwoon said.

LG has earmarked Rs 100 crore for marketing and expansion of retails sales network to push sales in the country.