Center

LG targets high-end mobile market

By Chen Zhiming (China Daily)
Updated: 2007-04-05 08:54

LG Electronics (China) said it would strengthen its position in the Chinese market by introducing more high-end, multifunctional mobile handsets.

"The Chinese market is one of the most important markets for us and we will seek to provide more products to enhance our position here," said Woo Nam-kyun, president of LG Electronics (China).

The company launched the latest mobile phone in its premium Black Label series, LG Shine, in China on Tuesday.

It has expandable memory, an auto-focus camera and a comprehensive media player with multi-codec support such as MP3 and MPEG4 and real spectrum display. It supports GPRS (general packet radio service) and EDGE (enhanced data rate for global evolution) network compatibility, Bluetooth and USB connectivity.

"The new mobile is a reflection of our intensified focus on the high-end market in China," Woo said, adding high-end products were a key factor for the firm to get a foothold in the highly competitive market.

Last year, LG Electronics launched its LG Chocolate mobile phone in China, cementing its place in the design-led mobile sector.

LG Chocolate sold 10 million units worldwide last year. About 600,000 were sold in China, accounting for 20 percent of the global total.

With the launch of LG Shine firstly in South Korea in November, the company is expected to notch up total sales of 5 million worldwide with 1 million in China.

According to Woo, the Chinese market currently accounts for 30 percent of LG Electronics' total. "We are confident that the Chinese market will be the one with the largest potential."

The company recorded growth of 20 percent last year in China. "We are aiming for growth of 25 to 30 percent this year," he said.

Woo said LG Electronics was also involved in China's 3G development. "We are working closely with the Chinese government and Chinese telecom operators in research and development on 3G networks."

LG Electronics announced in January that it had targeted sales of $44.5 billion in 2007, up 15.3 percent from the previous year. As a major revenue source, the company plans to sell 78 million mobile phones in 2007, representing growth of 20 percent on 2006.

(China Daily 04/05/2007 page14)