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LG Electronics Aims to become $10 Billion Company
Mar 23, 2005
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LG Electronics India Ltd is aiming to become a U.S. $10 billion company by 2010, even as it plans to rollout 20 million handsets in next five years from its newly commenced GSM plant.

"With a strong focus on Research and Development (R&D), we intend to become a $10 billion company by 2010 of which 30 percent would be from exports," said Kwang-Ro Kim, managing director of LGEIL.

This objective would be achieved by consolidating the company's leadership presence in consumer electronics, home appliances, information technology, and mobile phone markets.

"We are investing close to 2 to 3 percent of our total turnover for R&D and are expecting to make the country an R&D hub for consumer electronics, home appliances, and GSM phones," Mr. Kim said. (The Economic Times)

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