New Delhi, April 14: South Korean consumer electronics major LG today joined ranks with smartphone players Xiaomi, Gionee, OnePlus and Huawei to launch two locally made handsets K7 and K10 priced at Rs 9,500 and Rs 13,500, respectively.

"India is a strategic market for LG globally and the decision to make smartphones in India underscores our commitment to customers here. We want to tap the huge potential for smartphones in the country," said Kim Ki-Wan, managing director of LG Electronics India, adding that nearly six to eight smartphones will be made in its new facility in the next six months.

The company today inaugurated its mobile manufacturing plant in Noida.

"The Indian digital ecosystem will be a $1-trillion economy in the next five years with smartphones and electronics manufacturing contributing $400 billion, IT and ITES-enabled services contributing $350 billion and communications services contributing $250 billion," telecom minister Ravi Shankar Prasad said at the event today.

LG had earlier said it would start local manufacturing of smartphones only after achieving a 10 per cent share of the entire smartphone market in the country.