LG Electronics Inc. has vowed to become the No. 3 electronics firm in China by achieving U.S. $10 billion in sales by 2005. The company also plans to boost research and development activities in the country. LG Electronics' Chinese subsidiary set five business goals: becoming a leading marketer of major products, promoting information and telecommunication businesses, strengthening global operations, hiring local employees, and improving the organizational culture.
LG aims to raise the number of R&D personnel in Beijing to 2,000 by 2005. The new employees will research next generation mobile communication and information electronics and develop product designs. LG plans to establish a regional sales office in Nanking in order to support sales of premium electronics and to install an information technology sales team to strengthen marketing of mobile phones and mobile communication systems.
LG selected mobile phones, plasma display panels, projection television sets, liquid crystal display monitors and digital versatile disc players as important products in China and as part of LG's ambition to become the biggest seller of the products in that country. Air conditioners, washing machines and electronic ovens are other products on which LG aims to focus. (Joong Ang Ilbo)
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