Date:15/10/2004 URL: http://www.thehindubusinessline.com/2004/10/15/stories/2004101502290200.htm

Back LG to invest $100 m in Pune plant expansion

Our Bureau

Kolkata , Oct. 14

LG Electronics India Pvt Ltd has identified IT and telecom products as a major driver of business growth in the years ahead.

The company has decided to invest $100 million at its Pune plant for setting up capacities for manufacturing mobile handsets, according to Mr K.R. Kim, Managing Director of LG Electronics India Pvt Ltd.

Addressing a press conference held here today to announce LG's promotional schemes for the festive season, Mr Kim said the growth in the domestic IT and telecom sector would augur well for sales of LG's IT and telecom products. To begin with, mobile handsets would be assembled at the Pune plant. At a later date, handsets would be manufactured there as well.

Mr Kim said that, in the years ahead, 60 per cent of the company's revenues would be accounted for by sales of IT and telecom products with consumer electronics and home appliances accounting for the rest.

In the ongoing festival season, customers would get gifts on every purchase of LG product. These gifts include projections televisions, wireless home theatres, washing machines, microwave ovens, T-shirts and bags.