
Korean giant LG Electronics (LGE) says it has become the Middle East and Africa's leading split air-conditioner supplier and is looking to strengthen its position in the region by focusing on system air-conditioner sales.
Last year, air-conditioners were LG's second top-selling item after televisions. Regional air-conditioner sales jumped 19 per cent to $151 million.
"Growth in this product segment was fuelled by the introduction of leading-edge plasma health technology," says M B Shin, president, LGE Middle East and Africa Operations.
"A further 26 per cent sales increase in the sector is being targeted this year as we step up marketing of our system air-conditioners. Given that the construction sector has been largely revitalised by higher oil prices, this target should be achievable," he adds.
LG announced record regional sales last year of $828 million, a rise of 15 per cent on 1999, and pledged to boost its turnover by another 15 per cent this year.
"We will do this in part with the launch of new cutting-edge digital products and the imminent launch of a new hi-tech security product which will again take us into a new sales segment, while at the same time strengthening LG's position in its more traditional fields," he says.
Last year, LG manufactured and sold four million air-conditioning units globally, making it the world's top producer air-conditioner, according to Shin.