LG plans mfg unit in Andhra, fears competition from parent entity

NEW DELHI: LG Electronics India has plans to set up a new plant in Andhra Pradesh to boost its manufacturing capacity in the country, though it also fears competition from its South Korean parent entity.

- Press Trust of india

Besides, it is increasing the sourcing of raw materials from the local market, which is helping it meet consumer demands and lower its inventory and related costs, allowing the company to competitively price the products, said LG in its DRHP filed with markets regulator Sebi.

However, it also added that despite localisation efforts, there is a persisting reliance on foreign components and finished products, especially in the premium segment.

"Key imports are primarily sourced from countries such as China, South Korea, and Japan, reflecting a strategic focus on enhancing product quality and technological advancement," it said.