Market researchers and business analysts have seen a remarkable switch in the buying pattern of mobile phone users in India. Making the most of this upsurge and knowing the fact that consumers in India do have a huge bent towards mid-range mobile phones which offer the most domestic use like social media apps, music, entertainment, and infotainment, etc., LG has come up with a new plan to launch budget phones around the Rs. 15,000 price mark.
Also read: LG Mobile Price List In India
Phones priced under Rs 15,000 are usually from companies like Xiaomi, Redmi, Realme, Oppo, and Vivo. Already witnessing a 10 times increase in sales, LG’s new budget mobile phones could drive the company’s profits up to 15 times more than now as predicted by LG itself.
Adding value to the ‘Aatmanirbhar’ and ‘Go vocal for Local’ campaigns propagated by the government of India, LG has decided to stress upon local manufacturing, assembly, and expand distribution by Diwali this year.
Advait Vaidya, Business head of mobile communication at LG, in his interview with the Economic Times says that this year LG – the South Korean major mobile manufacturing brand is preparing to bring an ‘India specific and India first’ product catalog to cater the demands of Indian consumers.
He said, “So, this year, starting August, we will be launching six phones across all segments – starting from the sub-Rs 10,000 categories up to the flagship segment. We are ramping up distribution across channels, online and offline”.
Reasons For LG Mobiles Under Rs 15000
Due to the global pandemic of COVID-19, the market has switched more on the saving mode and is going to spend less on non-essential things. The company is targeting ‘Rs 15,000 smartphone buying’ audience. Besides this, LG Mobiles is also expanding its verticals to the tablet market by the end of 2020.
As Vaidya said, “We are in advanced stages of discussions with one of the largest Indian contract manufacturers. Once we sign a formal agreement, we will make an announcement soon and shall apply for the scheme too”. This confirms that this exercise is surely going to boost country’s economy and will be a really good support for the buyers looking for ‘Made in India’ alternative to Chinese manufactured products.
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