LG Electronics targets 20% growth next year
Company sees 5% growth this year in the Middle East and Africa region
LG Electronics (LGE) plans to grow its business in the Middle East and Africa region by an ambitious 20% over this year's figures in 2010, fuelled by the positive signs it's seeing despite the stormy financial outlook worldwide.
"Even during the slow economic circumstance in 2009, LG Electronics IT business in Middle East and Africa (MEA) was quite successful by making 5% growth from 2008. This success was possible mainly thanks to our continuous efforts on customer insight based marketing activities," said H.S. Paik, president of LG Electronics Gulf.
At a press conference to highlight the company's new products being introduced in the region, Paik said that a 20% growth target for next year "was achievable" with the monitor, notebook and external hard drive product segments expected to spur further demand.
A new range of monitors, netbooks, notebooks, external hard drives and projectors have been unveiled by LG Electronics, which will be showcased at GITEX this year.
The company estimates that it will achieve $3.7 million in sales from the MEA region alone this year.