LG targets US$3.3bn sales for MEA in 2007

Electronics giant says is on track to hit regional target.

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By  Dawinderpal Sahota Published  August 29, 2007

LG Electronics says it is on track to hits its 2007 sales target of $3.3 billion for the Middle East and Africa (MEA) region after a strong first half.

The electronics giant said its sales for the region neared $1.67 billion in the first half of 2007, up 25% on year, boosted by demand for its mobile handset, LCD TV, monitor and notebook products.

LG president MEA KW Kim credited product innovation for the rise in demand. "Our spectacular growth is due to LG's relentless efforts to unearth customer insights and develop design-led products," he said.

Sales in the lower GCC increased 50% on year to $270 million with the Korean vendor noting strong demand for its Prada and Shine mobile handsets.

LG recorded sales of $140 million for monitors in the first half, while optical storage device sales were $50 million. Notebook sales meanwhile grew 10% to $50 million.

LG reported overall sales of $559.2 million for its full year 2006. It did not provide a breakdown for its turnover for the MEA region.

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