LG to focus on local sourcing of handset components
LG Electronics India Ltd is planning to increase its local sourcing of components for its made-in-India GSM handsets from the current 20 per cent to 50 per cent by the end of this year with component manufacturers from Korea, Taiwan and Europe setting up plants near its Ranjangaon plant in Pune.
Till about a month ago, a company official admits, the company was simply assembling GSM handsets as all components were being imported from Korea. It started sourcing chargers and packing from domestic vendors one month ago which took its local sourcing of components to 20 per cent.
The company has set its eyes on atleast 50 per cent local sourcing of components in value terms, if not units terms, by the end of this year, said H S Bhatia, product group head, GSM mobile phones, LGEIL.
More: business-standard.com