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LG sees China revenue to take off 50%
By Zhu Shenshen |
December 16, 2009, Wednesday
|
Print Edition
Print Edition
LG Electronics expects its China revenue to surge 50 percent annually in 2010 as it expands distribution channels for enterprise and organizational clients and on technology upgrade, the South Korea-based electronics maker said yesterday.
The revenue in China will grow 50 percent next year thanks to the expanded business model and new technologies including LED (light emitting diode) and multi-display, the company said.
In 2008, LG Electronics achieved revenue of US$12 billion in the LCD (liquid crystal display) TV, monitor, mobile phone and consumer electronic sectors.
LED display products, which provide more vivid color display and energy efficiency compared with traditional LCD ones, will account for 30 percent of LG China's total display product sales next year, triple the portion this year, said the world's No. 2 LCD TV maker.
LG has launched a new online business-to-business platform called LG Partner Portal to promote products for enterprise and organizational clients like government bureaus and hospitals.
On the Chinese mainland, LG has invested heavily in 13 manufacturing facilities since 1993, including an advanced LCD panel line in Guangzhou in south China.
The profit of an LED TV is almost triple that of a conventional LCD model, said Lu Renbo, deputy secretary-general of the China Electronic Chamber of Commerce.
In China, LED TVs will more than double their share of the market to 30.6 percent in 2011, with sales of LED TVs forecast at 16 million, or half of the LCD market, by 2012, said All View Consulting.
The revenue in China will grow 50 percent next year thanks to the expanded business model and new technologies including LED (light emitting diode) and multi-display, the company said.
In 2008, LG Electronics achieved revenue of US$12 billion in the LCD (liquid crystal display) TV, monitor, mobile phone and consumer electronic sectors.
LED display products, which provide more vivid color display and energy efficiency compared with traditional LCD ones, will account for 30 percent of LG China's total display product sales next year, triple the portion this year, said the world's No. 2 LCD TV maker.
LG has launched a new online business-to-business platform called LG Partner Portal to promote products for enterprise and organizational clients like government bureaus and hospitals.
On the Chinese mainland, LG has invested heavily in 13 manufacturing facilities since 1993, including an advanced LCD panel line in Guangzhou in south China.
The profit of an LED TV is almost triple that of a conventional LCD model, said Lu Renbo, deputy secretary-general of the China Electronic Chamber of Commerce.
In China, LED TVs will more than double their share of the market to 30.6 percent in 2011, with sales of LED TVs forecast at 16 million, or half of the LCD market, by 2012, said All View Consulting.
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