LG Electronics is aiming to achieve sales of US $3.3 billion in the Middle East and Africa (MEA) region during 2007.
The firm has announced an aggressive sales strategy to increase its market share in the region. It expects to meet the $3.3 billion target through sales of its best-selling products, including the Super Multi-Blue dual-format dvd player, Santa Rosa and dual-core notebooks, Champagne home theatre and Time Machine 2 tv.
LG’s achieved sales of $1.675 billion in the MEA during the first half of 2007, which represents a 25% growth over the corresponding period in 2006. The Lower GCC region alone had a sales turnover of $270 million over the six months, a rise of 50% over the same period in 2006.
The figures were boosted by strong gains in the lcd, tv, monitor, mobile handset, optical storage devices and notebook sectors of the electronics market. A 96% growth in its gsm handset business was partially attributed to sales of its Prada and Shine product ranges. Sales in the display business rose by 300%, with a total of $115 million.
Speaking at a press conference in Dubai to announce the latest figures, LG Electronics president K W Kim commented: “I can confidently say that we are well on track to achieve our 2007 MEA target of $3.3 billion. LG’s main focuses in the remaining months [of 2007] will be to significantly increase its market share throughout the region and expand our customer base by introducing innovations that greatly enhance the quality of our consumers’ lives.”