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LG, Olive to reduce presence in low-end phone segment [Hardware] [Times of India]

Friday, December 23rd, 2011

LG, Olive to reduce presence in low-end phone segment [Hardware] [Times of India]
News from TMCnet:

(Times of India Via Acquire Media NewsEdge) NEW DELHI: LG India, the country’s largest consumer durables maker, will sell less of low-cost mobile handsets as a falling rupee threatens the viability of the category.

“The category is not giving us margins. So, we will have minimum presence in the low-cost segment and focus more on the premium category,” LG India MD Soon Kwon said. LG will now focus on handsets priced Rs 4,000 upwards.

Domestic handset maker Olive Mobiles, too, will cut its presence in the sub- Rs2,000 category because the rupee’s record 15% fall against the US dollar this year has made imports costlier and sales of low-margin, massmarket products unviable.

Most mobile phone companies, including LG and Olive, import handset for the Indian market. Kwon said that the industry will see a shift towards smartphones next year and companies not present in the higher-end category may have to e…………… continues on TMCnet

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Initially slated for a December 2 release at Bell Canada, LG Eclypse’s launch date was pushed back to December 12. The affordable smartphone made its entrance on the Canadian market last week via Bell and Virgin Mobile carriers.

 

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