LG Electronics now manufacturing phones in Iran

LG Electronics now manufacturing phones in Iran

South Korean tech giant LG Electronics has announced that they are now manufacturing mobile phones in Iran. The company has collaborated with a local partner for this project.

The company said that this new setup can make 1 million phones a year. They have however declined to reveal the identity of their partner.

Maadiran Group is rumored to be the company as they recently mentioned on their website that it began producing five models of handsets under license from LG Electronics.

LG is the world’s fifth largest maker of mobile phones and trails domestic rival Samsung in the market.

LG wants to be more competitive in the Middle East market which is growing rapidly and they hope to gain from this localized plant. With this unit, they would be able to avoid the high taxes in the country.