LG REAFFIRMS COMMITMENT TO PLASMA BUSINESS
Sydney, Australia, 5 March 2009 - LG Electronics (LG) is one of the world`s leading producers of plasma display panels (PDPs) and plasma TVs.
As a founding member of the Plasma Display Coalition, we are committed to the plasma business and we believe plasma TVs are an important segment in the flat panel display sector. In addition, unlike some current and former plasma TV players, LG possesses core technologies for plasma TVs and PDP modules, giving us unique advantages in the market. We have invested heavily to strengthen the LG brand in this segment and will continue to do so.
The demand for plasma TVs is still growing. Based on this, we have set a global goal to sell 3 million plasma TVs in 2009, giving us 19 percent of the total plasma TV market. We will focus primarily on plasma TVs 50 inches and larger, where demand is highest.
Warren Kim, TV Category Manager, LG Electronics Australia comments on how this will affect the LG plasma business in Australia.
“We are pleased to report that LG Australia has experienced year on year growth in market share for the plasma TV category. On a local level, we will be focusing primarily on Full High Definition plasma TVs where demand is rapidly growing.”
To help us achieve our goal for this year, LG is introducing new plasma TVs with advanced features like Time Machine function and Full HD resolution, along with innovative frameless designs. Additionally, LG is initiating and expanding relationships with both premium retailers and mass merchandisers through proactive collaboration in promotional activities for plasma TVs.
In 2009, we integrated our PDP module and plasma TV businesses to leverage vertical efficiencies between sets and components and create a stronger supply chain.
LG will continue to develop a wide range of plasma displays fully accommodating customer needs and wants.
For more information please visit the LG website at www.lg.com.au or call 1800 LG HELP (1800 544 357) for stockists.
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About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, home appliances and mobile communications, employing more than 82,000 people working in 114 operations including 82 subsidiaries around the world. With 2007 global sales of USD 44 billion, LG is comprised of five business units - Home Entertainment, Home Appliance, Air Conditioning, Business Solutions and Mobile Communications. LG is the world’s leading producer of mobile handsets, flat panel TVs, air conditioners, front-loading washing machines, optical storage products, DVD players and home theater systems. For more information, please visit www.lg.com.
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