LG Electronics, a leading player in the global flat panel display market, has reported more than one million television sets were shipped across the Middle East and Africa region over first quarter of 2008.
Reporting a whopping 38.2 per cent growth over last year’s TV shipments, LG ranks first in terms of demand for its visual display products across the region. According to LG’s latest reports, more than 250,000 TV units were sold across the GCC in the first half of 2008 representing 22 per cent of its total MEA sales.
According to a recent research report by Display Search on global TV shipments, nearly 11 million TV units are expected to reach the Middle East and Africa region this year. Total shipments into the region this year are likely to increase by 8.3 per cent over 2007.
“As one of the key sources for family entertainment, relaxation and keeping updated with global events and news, TV sales or demand is unlikely to slow down,” said Mr. K.W. Kim, CEO of LG Electronics Middle East and Africa Regional Company. “In addition, the growing trend of following international sports events has also led to increased sales of larger and more sophisticated flat screen products.”
According to LG’s 2008 first quarter results, overall sales increased by 32.1 per cent to USD 3.808 billion triggered mainly by high demand for flat screens. LG LCD TV sales saw 82 per cent growth while plasma TV sales rose by 18 per cent and monitors by 30 per cent over 2007 sales figures. PDP module sales witnessed 17 per cent year on year growth owing to demand for LG’s plasma TVs and 32-inch monitors.
“LG’s continued success in the panel display sector is mainly due to its technologically superior products which help enhance the overall viewing experience. At the same time, great attention is paid to style, design and use of colour- making most LG display products the centre piece in any home,” Kim added.