Monday, July 21, 2008

South Korea's LG expects its MEA revenues to increase by 40% in 2008.

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South Korea's LG expects its MEA revenues to increase by 40% in 2008. South Korea's electronics supplier LG expected its Middle East and Africa (MEA) operations' revenues to increase by 40% y/y to reach USD 4.5bn in 2008, the company's CEO, K.W. Kim, said. In Q1, LG recorded USD 1bn in revenues from the region. About 40%, or USD 400mn, came from the Gulf region. The high demand for healthcare products, eco-friendly products, combined with high sales of TVs and mobile phones contributed to the company's increased revenues. LG plans to consolidate its market- position in the region by targeting high-traffic areas such as airports, malls and hospitals.

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South Korea's LG expects its MEA revenues to increase by 40% in 2008.

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