LG plans to set up manufacturing unit at Andhra, fears competition from parent entity

New Delhi, Dec 9 (PTI) LG Electronics India has plans to set up a new plant in Andhra Pradesh to boost its manufacturing capacity in the country, though it also fears competition from its South Korean parent entity.

Besides, it is increasing the sourcing of raw materials from the local market, which is helping it meet consumer demands and lower its inventory and related costs, allowing the company to competitively price the products, said LG in its DRHP filed with markets regulator Sebi.