SpatiaLight, Inc., a manufacturer of liquid crystal on silicon (LCoS) microdisplays, announced that LG Electronics' CEO has recently made comments regarding LG's global display strategy for 2006.
S.S. Kim, CEO and vice chairman of LG Electronics, recently stated in an article published in The Korean Economic Daily, that his management strategy for 2006 will be one that will strongly feature and promote the display business, including LCoS, with the goal of achieving top market share.
Kim emphasized in his 2006 business outlook, that LG will strengthen its competitiveness in premium class display products with a goal of top global market share as competition from Japanese TV makers is expected to be fiercer than ever in the already hot display market. As one of its strategies, LG announced that it plans to reinforce promotional activities for all TV lines by expanding its first-in-Korea LCoS TV marketing effort and adding a "Time Machine" (LG's version of a personal video recorder, PVR) function to all of its TVs with screen sizes above 37 inches.
LG's intention is to win the market with premium display products and has mapped its key strategies to develop new segment of Large Display TVs and expand its premium TV product group in the next year. To achieve this goal, LG will roll out its LCoS 71-inch projection TV in the Australian market near the end of December and subsequently add marketing efforts and roll the product out in North America and Korea.
LCoS projection TV is important to LG management because the technology will restore a diminishing projection TV market and replace older, more mature projection TV technologies such as DLP, due to LCoS' outstanding picture quality and superior resolution. LG expects that LCoS TVs will reportedly cost roughly one tenth of the price of a plasma TV of the same size.
LG will augment sales and market share of premium TV products by adding PVRs to all the televisions above 37 inches in size.
LG aims to be ranked global number one in TV. The background for Kim's strategy and focus on the display business arises from LG's success in the PDP panel business, which turned profitable and took the number one market share in 2005 during an upbeat time for the market in general. Historically, the LG Display business division has been very important to LG with regard to the revenue contribution to the company, but profitability has been somewhat of a roller coaster. LG intends to make a statement with its Display business in 2006.
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