LG sets sights on becoming top global TV brand

LG Electronics (LG), a major player in the global flat panel display and AV markets, unveiled its plans to achieve the top global position in the TV market with a fundamental shift in the way viewers consume content, from simply watching TV to “using TV”.

LG is aiming to secure an even stronger presence as a global top-tier TV brand this year after claiming the number two spot with sales of 16.2 million LCD TVs in 2009. The company plans to sell a total of 25 million units in 2010, including seven million LED LCD TVs on the back of anticipated market demand exceeding 171 million units -- a 22 percent increase over 2009. The company aims to increase its market share to 15 percent from 11 percent last year. The goal for 2011 is to occupy the top position in the global LCD TV market.

LG is targeting 29 million units in total sales of both LCD and Plasma TVs. The company intends to boost sales of Plasma TVs to four million units in emerging markets including Asia, Middle East and Central and South America. LG will focus on the large screen market of greater than 50 inches, which is expected to grow to 58 million units -- a 15 percent increase from last year.

LG plans to promote the INFINIA, an innovative new family of LED HDTVs, as the key growth engine for the 2010 year to achieve its ambitious goal of becoming the top global player in the TV market. The new INFINIA HDTV series was unveiled last year under a BORDERLESSTM design theme. The INFINIA range will be fundamental to LG’s mid- and long-term plans to drive growth through 2010 by providing seamless connectivity and limitless access to online content by NetCast Entertainment Access™, Skype calls and DivX movies.

“Going forward, the TV industry will no longer compete along basic features such as slimness and image quality,” said Simon Kang, CEO and President of LG Home Entertainment Company. “We expect the TV to evolve into a center for smart living beyond its status as a simple display device. We’re moving away from merely ‘watching TV’ towards an era of ‘using TV’.”

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