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 Electronics Targets 20 Percent Sales Growth
Oct 17, 2005
 Printable format
 Email this Article
 Search

South Korea's LG Electronics Inc. is targeting a 20 percent increase in sales at its home appliances unit next year and aims to nearly double its air-conditioner sales by 2007, a senior executive said.

LG plans to raise output from its overseas plants to offset the impact of a firmer won currency, said Lee Young-ha, chief executive of the firm's home appliances unit.

"The stronger won and raw material shortage due to high demand from China and India pose threats to our profitability," Lee said. "Focusing on high-end products is the only way to survive."

LG is targeting annual air-conditioner sales of U.S. $5.2 billion in 2007 and $7 billion in 2010, against $2.8 billion estimated for 2005.

Lee also said the company aimed to raise its overall home appliances sales by 20 percent in 2006 from about $10 billion expected for 2005.

The unit is targeting an operating margin of about 8 percent next year versus 7 percent this year, Lee added.

LG is the number three producer of household appliances in revenue terms, behind Sweden's Electrolux and Whirlpool Corp. of the U.S.

The home appliances division contributes about a quarter of the revenue of LG Electronics. (Reuters)

Back to Daily News

 

Daily News

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

Oct 22, 2014: Middleby to add U-Line to residential appliance business

Oct 22, 2014: iRobot's 3Q exceeds expectations, driven by Home Robots growth

Oct 22, 2014: Whirlpool Canada named 2014 Energy Star Manufacturer of the Year

Oct 22, 2014: ACCA wants the HVAC manufacturers to develop open, universal communication protocols

Oct 22, 2014: IHA launches website to connect OEMs with consumers

More Daily News>>

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

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

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
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