By Kim Yoo-chul
Staff Reporter
LG Electronics, South Korea’s leading manufacturer of home appliances, said Wednesday that it will double its home appliance sales in the Middle East and Africa to $6 billion by 2010.
The plan is achievable, considering its strong sales of home appliances, LG said.
``Sales of our TVs, air-conditioners, mobile phones, refrigerators and washing machines in the markets have been growing by more than 30 percent every year, therefore it is time to step up efforts to promote brand images there,’’ Kim Ki-wan, vice president of the company, told employees in Dubai, noting that a tailored marketing strategy will increase its market share to 15 percent from the current 10 percent.
The Middle Eastern and African home appliances markets are expected to be worth $40 billion by then, up from $30 billion, according to company officials.
In the handsets sector, LG will expand ``1 Million Selling’’ spots to five from the current two _ Pakistan and Morocco. Asked about the countries the company wants to target, its spokesperson declined to elaborate.
LG said it will focus more on the B2B sector and appeal to more local customers with health-related line-ups.
``We are in urgent need of other income sources to drive the company’s future engines. Based on favorable corporate images in those areas through large-scale marketing, we will go head to head with competitors,’’ an LG spokesperson said.