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LG Mobile to Invest CNY1bn in Chinese Market January 5, 2009

Posted by aikservices in China, LG Mobile, Mobile, Motorola, Nokia, Sony Ericsson, Telecom, Wireless.
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Under the financial crisis, global giants like Nokia Corporation, Motorola Inc., and Sony Ericsson either cut jobs or reduce payments, while LG Mobile announced on December 30, 2008, that CNY 1 billion would be poured into China in 2009, being the largest investment of the company since its foray into the country.When other counterparts view the financial crisis as a severe strike, LG Mobile takes it as an opportunity. The CNY 1 billion will be used for marketing and building sales channels. Besides, inputs will be injected into fields such as technology innovation, product research and development, human resources, advertising, publicizing, and pubic relations.

After the capital infusion, LG Mobile will launch 60 mobile phone models in China per year from 2009, including 35 GSM, 15 CDMA, and ten 3G. And the company will also partner with Chinese mobile phone distributors China PTAC Communications Services Co., Ltd., and Telling Telecom Holding Co., Ltd. , expanding its retail outlets from 7,000 to 13,000.A top executive of LG Electronics Mobile Communications Company says LG Mobile hopes to lift up its Chinese market share to 5% to 10% in 2009, and become one the top five mobile phone makers. In the near future, the company aims to edge into the world’s top three.

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