NEW DELHI, INDIA: Korean-based mobile phone handset manufacturer LG is eyeing a market share of eight per cent in India by the end of 2008, and is targeting 50 per cent growth in the GSM space.

To increase its market share, LG -- a dominant player in the CDMA handset -- plans to triple its portfolio by launching another 20 more models by end-2008.

 V Ramachandran, director sales and marketing, LG India, said that the company is betting high on the GSM business growth in India. "We are targeting to achieve 50 per cent growth in the GSM space. We are currently at 12 per cent," he said. LG's focus would be on building a strong portfolio of high-end handsets and a strong image in the GSM sector by next year.

"We are targeting a market share of eight per cent by the end of 2008 from the current share of 1.7 per cent. We have sold 16 million handsets, which has fuelled our market share from 1.1 per cent to 1.7 per cent," Ramachandran said.

There are currently 10 GSM handset models available in the market. LG is targeting to take the GSM handset portfolio to 30. 'Viewty' is LG's tenth handset to achieve the target of increasing the market share. "It is a mobile phone with a camera, which will redefine the standard in the camera phone market," said Anil Arora, Business Group Head (GSM) LG Electronic India.

LG, which till now has looked at as a lifestyle brand with high-end models, will also be moving towards lower-end market with more models. "We are strong players in A and B groups but we want to achieve the same with the C group also," said Arora.

In September 2005, LG Electronics set up India's first fully functionally GSM manufacturing plant in Ranjangaon near Pune, with an investment of Rs 900 crore.

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