LG Electronics (LG), a leader in consumer electronics and mobile communications, today announced its key goals for 2007 as well as its management and investment plan.
The company plans to increase its competitiveness by increasing the profitability of the mobile handset business and the market share for its LCD TVs. The company will ship 78 million units of mobile handsets this year, an increase of 20 percent compared to last year. As for flat-panel TVs, LG aims to sell a total of 10.5 million units, including 2.5 million Plasma TVs and 8 million LCD TVs.
"LG will expand its global reach in all business areas, increasing our revenue, market share, profits, growth rate and shareholder returns," says Yong Nam, Vice Chairman and CEO of LG Electronics at the 2007 International CES in Las Vegas. "We will accomplish this by creating value for shareholders, customers and employees."
LG's sales goal is $ 44.5 billion this year, which represents a 15.3 percent increase over last year's $ 38.6 billion performance and will also include new business categories such as home networking, car infotainment and system air conditioners as well as flagship product categories such as mobile handsets and digital displays. Capital expenditures include digital TV production lines and R&D institutes.
The company plans to invest millions more in capital expenditures and research and development compared to 2006.
Seocho R&D Campus and Gasan Research Complex are currently in the process of development. LG believes the creation of such developments will aid secure future business by developing a long term force for growth.
Key business strategies and plans for 2007
LG plans to sharpen its competitive edge by developing industry-leading technologies including next generation mobile communications and IPTV. A recent technological breakthrough includes the development of Super Multi Blue Player, capable of playing both Blu-ray Disc and HD DVD content which is expected in South Africa in the next quarter.
Share
Editorial contacts