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Article: LG looks to increase market share.
- Article from:
- Gulf News (United Arab Emirates)
- Article date:
- February 23, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Electronics giant's CEO believes Africa and Middle East offer growth potential.
Dubai: Korean electronics giant LG recorded sales of $3.8 billion (Dh13.95 billion) in 2008 in the Middle East and Africa region, $950 million of which was from the Gulf. LG is viewing the global recession as an opportunity to invest in increasing its share of the consumer electronics market, the CEO has revealed.
The portion of Middle East and Africa out of the global electronics market is five per cent, but LG's share of that slice is around nine per cent, an indication of the potential for growth in the regional market.
"I think this market will grow - ...