The company, which launched 20 phone models last year, competes with its Korean rival Samsung as well as domestic majors like Micromax and Intex.
"We expect demand to go up for phones in the mid range costing between Rs 10,000 to Rs 15,000. We do have very robust plans to cover all price ranges this year. We plan to launch 30 new phone models this year," LG Electronics India Managing Director Soon Kwon said.
Kwon said LG will become a more meaningful player in the mobile segment.

LG launched its second curved smart phone G Flex 2 priced at Rs 55,000. The company also launched a 105 inch TV at a price of Rs 60 lakh.
LG is targeting a turnover of Rs 23,500 crore this year in India as part of a strategy to make the country among the South Korean major's top three markets in three years time.
The company's Indian arm LG Electronics India will also invest a minimum Rs 500 crore this year in research and development.
"India is amongst the top five global markets for LG globally but we expect changes in the rankings in the next three years. I want to bring India's ranking as the third largest market for LG," LG Electronics India Managing Director Soon Kwon said.
At present, top five markets are the US, Korea, Brazil, Russia and India.