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India the desirable location for manufacturing data storage devices
South Korean consumer electronics major LG Electronics plans to manufacture data storage products in India beginning next year, Head of its Indian subsidiary said today. India is a hot manufacturing base for hard drive makers.
"We might start manufacturing data storage products such as CD-ROMs, DVDs and hard-disc drives in India next year," Managing Director of LG Electronics India Limited, K R Kim, said.
He said LGEIL has started manufacturing mobile phones in India,and is targeting to produce 1.5 million units in the calendar year 2006 -- 70 per cent of them for the Indian market and the remaining for exports.
Kim, also President, South West Asia, LGE, said the company is investing US$50 million in India every year, with the funds mainly going into the manufacturing side.
LGEIL, which started operations in 1997, clocked a turnover of Rs 65 billion (US$1.49 billion) for the calendar year 2004, and is aiming at Rs 90 billion mark in the current year, company officials said.
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