IR News

Seoul, July 24, 2002 LG Electronics Inc.(LGE) made a $100 million contract to supply mobile handsets to India's Reliance Industries. LGE is the world's first handset manufacturer to get an order from Reliance, which is scheduled to launch CDMA service in the Indian telecom market this year.

LGE will ship three models of CDMA 2000 1x handsets including color dual LCD type from August to November this year. Talks with Reliance is under way for additional handset orders.

With this order, LGE has secured a firm foothold as a major long-term handset supplier in one of the fast growing markets. The company considers increasing the number of models to make a full-scale advance into the India's CDMA market by this year. Also, local manufacturing in India is also under review to maximize cost competitiveness.