Manufacturing News

LG aggressively taps Taiwan's LCD TV, handset markets

Taking advantage of the recent depreciation of the Korean won, LG, a world-caliber Korean brand of consumer electronics, is aggressively competing against Sony and Samsung in the Taiwanese markets for LCD (liquid crystal display) TVs and handsets, respectively, this year, according to company sources.

LG Taiwan indicated, tiding over the Asian financial crisis in 1997 with solid sales growths, the brand is very confident of withstanding hardship, deciding not to cut salaries or employees, in a bid to enhance cohesiveness within the organization to boost its business operations amid the global economic downturn this year.

According to statistics compiled by GFK Group, a globally leading market research institute, LG sold 1.5 million LCD TVs in January in Taiwan, only 0.5% less than Sony. With the Korean won depreciating, the brand optimistically aims for a shipment goal of 150,000 units for entire the year as one of the top 3 brands in the market and plans to outpace Sony with aggressive price promotions. To achieve the goals, LG Taiwan will introduce into the market all own-brand models featuring competitive prices and functions.

Plus, LG also concentrates on sales performance in Taiwan's handset market, planning to attain a 50% increase in its handset sales to 900,000 units in the year from 600,000 posted last year, in hopes of unseating Samsung as No. 3 brand in the market.

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