LG to bet $1.3 billion in digital TV market

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LG to bet $1.3 billion in digital TV market

LG Electronics announced yesterday at a presentation in Yeouido, Seoul, that it would invest 1.5 trillion won ($1.3 billion) in digital television by 2005, aiming to raise its share in the international market to 20 percent. LG digital televisions currently hold 9 percent of the world market. "Eight hundred billion won will be invested in building a global production system and for research and development," said Woo Nam-kyun, president of LG Electronics' Digital Display and Media Company. "Another 150 billion won will be spent on facilities and 560 billion won on brand promotion." LG Electronics said it would build a global management system for its three major markets ?North America, Europe and China. For the North American market, LG said it would establish a production and sales system centered in Reynosa, Mexico, for its digital television products, including plasma digital panel TVs and liquid crystal display TVs. In Europe, facilities in Wales and Poland will be expanded as production bases for digital televisions. And in China LG will add a second and third production base to its current base in Shenyang. At the presentation yesterday, LG displayed 40 of its products including 5 new models. Among them was its new 50-inch plasma digital panel television with a 10.9 million won price tag. It is the first in the world capable of transmitting data at high speeds using an optical cable. by Ha Ji-yun
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