LG Completes Exporting 5 million Handsets...

[Arun 795]

Financial Express, March 5, 2004

Korean major LG Electronics has completed the process of shipping five million handsets to Reliance Infocomm. This was announced at a press briefing by Reliance Industries’ chairman Mukesh Ambani and LG Electronics’ president & CEO Mun Hwa Park.

Responding to a query, Mr Ambani said Reliance’s other vendors would continue to supply handsets.

Among the vendors are Samsung, Nokia and Motorola. “This is being done to provide different options to our customers” added Mr Ambani.

Commenting on the launch of the pre-paid service, Mr Ambani pointed out there were about four lakh new subscribers for the service so far.

“We have registered healthy numbers for the service. Overall, we expect that we will grow by about two-and-a-half million subscribers each month over the next 30 months,” he said. Reliance Infocomm is in the midst of working out its international roaming service which it is expected to launch shortly. This will be across all GSM and CDMA networks.

Responding to a query on the initial public offering (IPO), he said there was nothing planned for the moment.