LG Electronics targets US$150mil sales this year

By DAVID TAN in Penang

LG Electronics Inc is targeting sales of its products in Malaysia to hit US$150mil this year from US$110mil last year, according to I.H. Lee, general manager of its Kuala Lumpur office. 

“Our consumer electronic products such as refrigerators, washing machines and air conditioners will spearhead the growth. These products generate on average some 60% of our yearly revenue,” Lee said. 

Sales of its mobile phones, launched last May, were expected to increase significantly this year, Lee said. 

“Last year, some 60,000 units of our mobile phones were sold in the country. This year, however, we expect sales to hit 150,000 units. Mobile phone sales should help us achieve the targeted turnover,” he said. 

Lee was speaking to StarBiz after the launching of the LG Turbodrum I-Sensor range of washing machines, which like its consumer electronic products, is distributed by Scott & English Electronics Sdn Bhd. 

I.H. Lee

“We chose Malaysia to introduce our latest range of washing machines because feedback indicates that there is a big demand for high-end consumer electronic appliances in Malaysia,” he said. 

Lee said on average, LG Electronics spent some 5% of its turnover on research and development yearly. 

“We produce a new range of home electronic products every three years,” he added. 

Lee said LG Electronics' marketing strategy to staying competitive in the country was to continue producing low- and high-end consumer electronic products. 

“This strategy enables LG Electronics to penetrate the low and middle-income markets,” he said. 

Lee said LG Electronics also produced computer peripherals such as monitors and CD-ROMs. 

“These products contribute about 10% to the group’s turnover,” he added.  

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