LG Electronics Co. plans to invest a total U.S. $1.35 billion in research and development, fixed capital, and marketing for its digital television operations through 2005.
The South Korea-based home appliance maker said on Thursday that $850 million will go toward research and development to build a global production structure and develop technology for digital television production. The remaining $500 million will reportedly be spent on marketing to promote its brand image.
The company plans to focus on the North America, Europe, and China markets and hopes the investment will help it obtain 20 percent of the global digital television market share by 2005.
LG Electronics expects that the global digital television market, currently valued at $13.4 billion, to grow to $26 billion by 2005 and then expand to $ 113.1 billion in 2008. (Dow Jones)
to Daily News