New Delhi, Aug. 30: LG Electronics India is eyeing a 10 per cent share of the GSM market in India by 2008 as the company is losing its position in the CDMA segment.

“We don’t think CDMA is a profitable business. The company is losing a lot of money and profits are going down because of low-cost models from China,” said Moon B. Shin, managing director of LG India and president of LG (Southwest Asia). The Korean firm plans to make India an export hub for West Asia and Africa.

“We will increase our GSM market share from 1.4 per cent to 8-10 per cent by 2008,” Shin added.

The company today launched two GSM mobile handsets under its black label series — LG Shine slider phone for Rs 15,999 and LG Shine bar phone for Rs 8,999.