Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

LG Elec Indonesia Sees Drop in March Appliance Exports
Apr 10, 2003
 Printable format
 Email this Article
 Search
PT LG Electronics Indonesia (LGEIN) saw March exports drop 19 per cent to U.S. $1.7 million, citing the impact of the U.S.-led coalition forces' invasion of Iraq since last month. "The decline was due to the fact that most of LGEIN's exports were shipped to the Middle East," Young Ha Kim, LGEIN president director, said Tuesday. He said that this month his company's refrigerator and TV set exports to the Middle East were also expected to fall by 8 percent and 18 per cent to $191,000 and $1.6 million, respectively. "The war is hampering the shipment of our goods. Even our exports to a number of Gulf countries such as Iran and Iraq were totally stopped," he said. Mr. Kim said LG's TV exports to Europe also were down 40 percent. "Europe as a big market has been very cold and even almost dead to our products," he said. The recent hike in the world oil price had caused an increase in production costs and commodity prices, and this is feared to reduce the purchasing power of local and international consumers, according to Mr. Kim. LGEIN's electronics products have a high local content, namely 70 percent, he said adding that 30 percent of the content was imported from South Korea, China, Malaysia, and other Asian countries. In the face of the war, Kim said his company would expand its market to countries remote from the war zone such as Russia, South Africa, Nigeria, Kenya, and other Asian countries. (Antara)

Back to Daily News

 

Daily News

...........................................................

Jul 31, 2014: LG Home Appliance, LG Air Conditioning See Lower Quarterly Sales

Jul 31, 2014: AHAM Canada New Chair is Doell of Samsung Electronics Canada

Jul 29, 2014: Jarden Reports Record Net Sales in 2Q

Jul 29, 2014: LG USA Names VanderWaal to Head Marketing

Jul 29, 2014: Smart Meters May Provide An Entrance Point for Cyber Attacks on the Connected Home

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows