The Brazilian division of South Korean electronics maker LG expects to record an 80-percent jump in mobile phone sales to 6.3 million units in 2006 from 3.5 million in 2005, LG announced at the Telexpo in São Paulo.
The company said it has invested U.S. $60 million in a new factory in 2005 and aims to reach its entire production capacity of 6.5 million before the end of 2007, according to Carlos Melo, LG's commercial director for mobile phones.
In 2006, LG's Brazilian unit expects to reach revenues of $1.8 billion, up from $1.3 billion in 2005, when $450 million came from the mobile phone division. In 2006, the handset business should account for 33 percent of the company's overall revenues.
LG said it also wants to double exports of handsets to account for 10 percent of its local production.
The company showed four new GSM and four new CDMA models at Telexpo. The new mobile phones will be launched in Brazil in the first half of 2006, according to the company. (Brazil Sun)
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