LG’s Position in Mobile Market ‘Shamefully Poor’, Says India MD
HIGHLIGHTS
“No reason to be number 10,” says LGs Kim Ki-Wan
LG’s looking to improve its smartphone market share
It largely relies on offline sales
LG hasn’t exactly been setting the world on fire in the smartphone market in India. A Canalys report said the company is losing market share in the country. In a refreshingly honest take, LG India MD Kim Ki-Wan calls the company’s position in the Indian smartphone market “shamefully poor”. Ki-Wan was speaking to journalists at the LG manufacturing plant in Ranjangaon, around 50km from Pune.
“Even though I claimed that LG already number 1 in India [in categories such as TVs, and home appliances], speaking of mobile phones I feel shame. I don’t like to make excuses,” Ki-Wan says. “In mobile phone, if you check, the quality, design, function, everything – no reason to be, you know, number 10 [in terms of] market share in India.”
He believes getting marketing and sales strategies right is the key to success in India. “If we do marketing and sales activity properly we will gain market share also. Even though our current position for the LG mobile phone is very shamefully poor,” Ki-Wan says. “[I] never give up. I will show you in a year. LG mobile phone will be [among] top three brands in India. I am preparing high-end and low-end [smartphones] also.”
(Also see: LG Bets Big on Oled Panels, Says Price Will Come Down With Increased Demand)
Like Gionee, LG too has largely stuck to offline channels in India. Ki-Wan says this is because the company can’t control prices of goods sold online. “If we offer some products online we cannot manage the price. Then our offline trade partners are not happy,” Ki-Wan says. “We cannot control [their pricing] because our partners, online or offline, are independent companies… We haven’t successfully entered the online channel yet.”
Ki-Wan also announced that LG’s flagship V20 smartphone is coming to India. It’s the company’s first smartphone to ship with Android Nougat that will be launched on September 6.
Disclosure: LG India sponsored the correspondent’s travel and hotel stay for the visit to LG’s manufacturing plant.
Tags: LG, LG V20, LG India, LG Mobiles
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