LG foresees US$ 3 bi income
Gazeta Mercantil - 03/06/2008
South Korean LG Electronics plans sales of US$ 3 billion for 2008 in Brazil, compared to the US$ 2.5 billion registered last year, when it grew 38.9% in relation to 2006. The pillars for this growth continue being the sales of television sets and cellular phones that, together, represent nearly 65% of the company's sales in the Country. But, according to Eduardo Toni, marketing director of the subsidiary company, investments in other areas are being studied. One of the most awaited investments concerns the installation of a unit or a production line of electric household devices (refrigerators, stoves, among others). From the 130 new products LG launched yesterday in Brazil, this line of electric household devices continues being imported. The company took advantage of the occasion and showed its line of vacuum cleaners, a segment it had not yet brought to the Country. "We are studying bringing the production still this year", said Toni, giving no further details on the endeavor. Another investment that may take place this year is the expansion of the unit of production of cellular phones in Taubaté, interior of the State of São Paulo. The company currently has the capacity to produce 12 million cellular phones a year. "We will need to increase this amount", he guaranteed. According to Toni, a great part of this volume is intended for catering to the Chilean and Argentine markets. The company should announce the details of this expansion still this year. In Brazil LG Electronics has reached the leadership in the segment of televisions, with 24% of market share, according to the company. In the category of Slim TV sets, the company has an even greater leadership, with 38% of participation. LG Electronics ended 2007 with global sales of US$ 44 billion. For this year, they expect to reach US$ 50 billion. The company is part of the LG group, which operates in several segments and ended 2007 with revenues of US$ 101.2 billion.