Monday, January 05, 2009

LG Mobile to spend RMB 1 bln on China market

LG Mobile will inject RMB 1 billion to enhance its marketing and sales channels in the Chinese market next year despite the global financial crisis, sources reported.

The Korean company expects its cell phone market share to rise between 5% and 10% in China next year, said LG China president Li Changhe, adding that the company hopes to rank among China's five largest handset makers and the world's Top 3 phone producers.

In addition, the company will add investment in technology innovation, product R&D, human resources and advertising in China. Approximately 60 new phone models will be launched in 2009, including 35 GSM, 15 CDMA, and 10 3G.

LG Mobile also plans to partner with China P&T Appliance Group and China Telling Communication to expand its outlet in the country from 7,000 to 13,000 next year.

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