The heart of tech

This article was published on August 17, 2011


LG to Invest Heavily in Indian Operations

LG to Invest Heavily in Indian Operations
Aayush Arya
Story by

Aayush Arya

Aayush is the India Editor & Apps Co-Editor at The Next Web. When not writing, he enjoys spending his time bungling about on Twitter or Aayush is the India Editor & Apps Co-Editor at The Next Web. When not writing, he enjoys spending his time bungling about on Twitter or Google+, and answering email.

LG is planning an investment of Rs. 1,000 crore ($220 million) in India over the course of the next two years, managing director of LG Electronics India Soon H. Kwon revealed to reporters in Kolkata on Tuesday.

According to a report by The New Indian Express, LG has seen growth of 20 – 30% in India in the last year, having raked in Rs. 16,000 crore from its operations here, and is targeting a 25% year-over-year increase for the current year. The company’s Indian business accounts for 6% of its worldwide revenue and is expected to reach about 15% by 2015.

LG currently has manufacturing plants in Greater Noida and Pune and intends to use its forthcoming investments to expand their capacities and set up new ones. It also has a network of 1,300 official retail outlets, which it plans to increase to 1,600 by the end of 2011.