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 Reports Home Appliance Revenue Up 23 Percent
Mar 29, 2004
 Printable format
 Email this Article
 Search

South Korea's LG Electronics Inc. reported it expects global revenue from sales of home appliances to jump 23 percent in 2004 from a year ago. Young-Ha Lee, chief executive of LG's Digital Appliance Company, said he expected sales from the business to rise to U.S. $8.5 billion in 2004 from $6.9 billion in the previous year.

"Operating profit (margin) would be 10 percent (of home appliance sales). It was 8 percent last year," said Mr. Lee. LG Electronics is a top South Korea home appliances maker and the one of the world's largest manufacturers of air-conditioners and microwave ovens. The home appliances business contributes nearly 30 percent of the company's revenue.

Mr. Lee announced the company faced pricing pressure, especially in the air-conditioning segment in China, but was attempting to neutralize that by launching high value products.

LG's Indian unit, LG Electronics India Pvt Ltd., said it expects its revenue in 2004 to surge 56 percent to 70 billion rupees (approx. $1.59 billion) from the previous year, helped by a strong economy.

Lee said the contribution of the Indian unit to global revenue was expected to rise to 15 percent by 2007 from 5 percent in 2003. (Reuters)

Back to Daily News

 

Daily News

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

Sep 19, 2014: Builder confidence at highest level since Nov. 2005

Sep 19, 2014: Builders Show, Kitchen/Bath Show, and 3 other events converge for 2015 Design & Construction Week

Sep 19, 2014: GE Appliances supporting Susan G. Komen

Sep 18, 2014: AHRI at White House unveils $5 billion refrigerant R&D plan

Sep 18, 2014: Solar microinverter market could break $1 billion by 2018

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 | Plastics Today | Powder Bulk Solids | Canon Trade Shows