LG Electronics India Expands into the Automotive Solutions Business

Consumer electronics manufacturer LG Electronics India has announced its expansion into the vehicle solutions business. As part of its strategy to diversify and expand its business portfolio, the company plans to bring its South Korean parent company’s global automotive business to the Indian market. The offerings will include automotive infotainment and telematics solutions, bringing LG Korea’s global B2B automotive products to India.

LG Electronics India said these products will be manufactured and supplied from its plant at Sri City in Andhra Pradesh. Meanwhile, the company reported a 25.65% year-on-year increase in its net profit for the second quarter ended September, reaching Rs. 489.34 crore compared with Rs. 389.43 crore in the corresponding period last year. Its revenue also grew by 19.53%, rising from Rs. 6,174 crore to Rs. 7,380 crore during the quarter.