LG sales hit $1.36 billion

Global firm LG Electronics’ sales turnover for the Middle East and Africa reached US $1.36 billion (AED4.99 billion) in the first half of 2006.

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By  Alison Luke Published  September 9, 2006

Global firm LG Electronics’ sales turnover for the Middle East and Africa reached US $1.36 billion (AED4.99 billion) in the first half of 2006. The results represent a 20% growth in sales performance in the regions compared to the corresponding period last year.The firm attributed the positive growth to a 217% jump in its LCD TV business. In terms of volume, the firm’s air-conditioners (US$385 million) and refrigerators (US$135 million) were the top and third best selling products respectively. Last year LG maintained its world number one position for residential air conditioners. “We are on track to achieve and even surpass our 2006 sales target of $2.7 billion,” commented K W Kim, president of LG Electronics, Middle East & Africa. “Our aggressive implementation of the ‘Blue Ocean’ management strategy, combined with our continuous emphasis on technological and design innovation, is one of the main factors for this unprecedented growth.”

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