LG Hausys, Korea’s biggest building and decorative materials firm, plans to invest $60 million to build its second plant in China as the demand for high-end household-related materials steadily increases.
Credit for image: Korean Time
The investment plan comes after key LG Group affiliates ― LG Electronics, LG Display and LG Chem ― are heavily betting on China and led directly by LG Chairman Koo Bon-moo with a pledge to pinpoint more areas for business expansion.
LG has had difficulties grabbing it's share of the smartphone market in North America and the UK. The company basaclly inventer the first i Phone killer with the LG Voyager only 4 to 5 years ago.
An investment in China may be a way to out source smartphone components cheaply.
The LG Vortex, LG Enlighten and LG Revolution Smartphones have put the company back in thee arena but not the spotlight.
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