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LG targets high-end mobile market
By Chen Zhiming (皇冠体育app Daily)
Updated: 2007-04-05 08:54
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LG Electronics (皇冠体育app) 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 (皇冠体育app).
The company launched the latest mobile phone in its premium Black Label series, LG Shine, in 皇冠体育app 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 皇冠体育app," 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 皇冠体育app, cementing its place in the design-led mobile sector.
LG Chocolate sold 10 million units worldwide last year. About 600,000 were sold in 皇冠体育app, 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 皇冠体育app.
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 皇冠体育app. "We are aiming for growth of 25 to 30 percent this year," he said.
Woo said LG Electronics was also involved in 皇冠体育app'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.
(皇冠体育app Daily 04/05/2007 page14)