Currently, mobile sales contribute 7-8 per cent to the overall revenues of the South Korean electronics major in India.

As of now, the company sells around 13 models in the country.

"This year, performance of our mobile business has been disappointing. We will launch around 15 mobile models next year”.

"In three years time, my target is to make all our product categories to contribute equally in percentage terms to our total sales... bring mobile sales to similar level of consumer durables", said LG Electronics India Managing Director Ki Wan Kim.

LG India's four products categories are mobiles, home entertainment, air conditioners and home appliances.

When asked if the company will look at manufacturing in India, he said, "Right now, we don't manufacture. We used to but we exited. If necessary, we will resume local production, it will depend on sales. Our future sales forecast should be stable to keep our factories operational."

The company used to manufacture mobile phones at its two factories in Greater Noida and Pune.

On new products Kim said,"This year, we have done lot of ground work and conducted in-depth consumer research to launch differentiated products with unique features. We don't pursue very low end phones. Our entry level phone will be priced at approximately Rs 10,000. We will launch products across all price points."

"We will launch new devices in the first quarter of next year," he added.

LG yesterday launched Nexus phones in partnership with Google with prices starting at Rs 31,900.