South Korea-based electronics company LG Electronics, which today launched Optimus G Pro mobile device at Rs 42,500 in India, aims to double the market share in the smartphone segment to 10 per cent by 2014- end.
"We have been reshaping our mobile phone business for the past one-and-a-half years. At present, our market share is close to five per cent in the country, which we target to increase to 10 per cent by the end of next year," said LG India managing director Soon Kwon.
Over the next one year, LG plans to launch 30 more handsets across price points. Optimus G Pro is the highest priced mobile device from LG in India so far. To push sales, Kwon said, the company would spend about Rs 80 crore.
"LG expects to sell one million smartphones this year. As a part of our strategy, we will be adding 100 to 150 retailers every month to expand reach," he added. Currently, it sells through 1,600 retailers. By the end of this year, LG hopes to increase the number to about 3,000. It has 600 service centres in India.
LG's Optimus G Pro comes with 5.5 inch high-definition display, a 13 megapixel rear camera, 2.1 megapixel front camera, an internal memory of 32 gigabytes which can be extended to 64 gigabytes using a memory card. The device runs on Jelly Bean, the latest version of Google's Android operating software. The device also supports long-tern evolution (LTE) networks.
However, LG's Optimus G Pro can't be termed as just a phone. It is, rather, a phablet--a hybrid version of a phone and a tablet device with screen sizes between five to seven inches.
LG launches the product at a time when the Indian smartphone market is already crowded and dominated by its South Korean rival Samsung's Galaxy Note, Note 2 and the Galaxy S4 that was launched in April.
Besides, it will also have to compete with Sony's Xperia Z, ZTE's Grand Memo, AusuTech's Fonepad, Huwaei's phablet (priced at Rs 24,900) in the phablet category, along with hybrid devices from Indian brands like Micromax, Spice and Lava.
In the over Rs 40,000 price category, there are a slew of handsets launched in the past few months, including Samsung's Galaxy S4, Apple's iPhone 5, BlackBerry's Q10 and Z10 HTC One and HTC Butterfly.