LG on track to achieve ambitious MEA sales target of US$3.3 billion for 2007

The company said it was on course to achieve its MEA sales target of US$ 3.3 billion for 2007.

LG's MEA sales in the first half of 2007 have touched US$1.675 billion, representing a 25 per cent growth over the corresponding period in 2006. The company boosted its earnings with strong gains in the LCD TV, monitor, mobile handset, optical storage devices and notebook segments.

Speaking at a press conference in Dubai today, Mr. K.W. Kim, President of LG Electronics - Middle East and Africa, attributed the company's impressive performance to LG's increasing support to channel partners in pushing retail sales.

'Our spectacular growth is due to LG's relentless efforts to unearth customer insights and develop design-led products,' he said. 'In the past few months we have successfully launched truly inspiration products.'

Kim pointed out that LG witnessed spectacular growth especially in the Lower GCC, where it saw its sales turnover of US$ 270 million in the first half, up 50 per cent over the same period last year. Close behind the Lower GCC in terms of turnover were South Africa (US$215 million), Iran (US$195 million), Turkey (US$125 million) and KSA (US $ 120 million).

LG experienced a strong 96 per cent growth in the GSM handset business, boosted by excellent sales of the PRADA and Shine mobile handsets. In Morocco, LG sold over 1 million handset units and is performing exceptionally well in Pakistan. The company will complete its portfolio in this segment by introducing the Nyx mobile, a 5 mega-pixel touch-screen mobile that promises to uphold LG's emphasis on design and innovation.

In the IT division, LG experienced impressive growth in all key segments. LG monitors reported a turnover of US$140 million, an increase of 29 per cent, while optical storage devices saw a growth of 42 per cent to touch US$50 million.

The digital leader also saw a positive increase in its notebook PC business in the MEA region with a turnover of US$37 million, 10 per cent up from the corresponding period last year. Kim pointed out that LG's notebook business was boosted by its launch of the Santa Rosa platform and dual-core laptops.

In the display business, LG's LCD TV sales grew by 300 per cent to notch up US$115 million. Kim pointed out that with LG offering a range of choices to consumers, including the world's first 32-inch plasma TV, its market share in the PDP segment would significantly increase.

The company expects to meet its 2007 sales targets through the innovative and bestselling products such as the Super Multi-Blue Dual Format DVD Player, Santa Rosa and Dual-Core notebooks, LG Shine mobile phone, Mini-Projector, Full HD plasma and LCD TVs, Time Machine 2 TV, Champagne Home Theatre, wide monitors, and projectors.

'We will be putting greater emphasis on product innovation to enhance people's lives and offer them a richer and more engaging lifestyle experience,' Kim said.

'Through our constant emphasis on incorporating rich innovative features in our products, LG has revolutionised the way people can communicate, listen to music, watch TV, play games, and manage and share personal information.'

Among LG's new products, the most anticipated is the Super Multi-Blue DVD player (LG BH100), which has effectively ended the war between the Blu-Ray and HDTV formats. LG Super Multi Blue Player is the world's first dual-format high-definition disc player that is capable of playing both Blu-ray and HD DVD discs.

LG also took the popularity of its Shine mobile phone to a new level by presenting the bar phone and metallic black versions of the phone. The Shine Bar and the metallic black versions follow the phenomenal worldwide success of the slide type LG Shine handset within the Black Label Series.

For lovers of home cinema, LG has introduced the Champagne Home Theatre that offers users an incredible sound quality while reducing the clutter in the living room. Presenting a total sound output of 700W RMS, LG's Champagne Home Theatre brings alive an unforgettable sound experience.

LG also unveiled the latest Time Machine 2 TV, which takes the popularity of its predecessor to the next level. The Time Machine TV proved to be a major hit at last year's GITEX, due to its ability to record TV programmes on its 80GB hard disk. The latest version is equipped with a USB connection, which allows users to transfer data from the hard disk to a DVD or computer.

Also presented was LG's LB9 LCD TV range, the first in the company's Design Art series. With tempting black pearl-inspired LCD TVs, LG hopes to build its reputation for design-focused TVs with quality to match. The LB9 series is designed to reflect the beauty of a black pearl in its tempting design features such as a glossy black finish, ring-shaped stand and wave-inspired bezel design.

The new products will be available through LG's channel partners at GITEX Shopper 2007, which runs at the Airport Expo Dubai from September 6 to 13. In celebration of its new launches, LG is also offering buyers of its products the opportunity to win fabulous prizes including Mercedes cars, 32-inch plasma TVs and MP3 players.

LG unveiled a mega-promotion aiming at the customers of UAE, Oman and Qatar, titled 'The Life's Good Experience'. The promotion offers huge prizes to potential LG customers for buying LG display or media products during Gitex and Ramadan.