LG aims to sell 5 million units of new high-end TVs in 2010

Posted on: Sun, 28 Jun 2009 03:14:00 EDT

Symbols: LGEPF

SEOUL, Jun 26, 2009 (Asia Pulse Data Source via COMTEX) --
LGEPF | Quote | Chart | News | PowerRating -- South Korea's LG Electronics Co. said Thursday it aims to sell 5 million units of liquid crystal display (LCD) televisions with light-emitting diodes (LEDs) in 2010.

LG Electronics, the world's third-largest LCD TV maker, launched two new 55-inch LCD TVs earlier in the day that use LEDs as backlights. LEDs are increasingly being used to illuminate TV displays instead of traditional light sources because they consume less energy, last longer and are more compact.

"These new models will change the LCD TV market landscape, and we expect these devices to reinforce the premium image of LCD TVs in general," said Simon Kang, president of the home entertainment company at LG Electronics, at a press briefing. "We aim to sell 5 million units of LED-lighted LCD TVs next year and are preparing a TV with a new concept based on the LED."

Kang also said LG Electronics expects to outstrip Japan's Sony Corp. to become the world's second-largest maker of LCD TVs this year.

"We believe that we have already surpassed Sony in the April-May output of LCD TVs," Kang said.

LG forecast that the global LED-TV market will grow to 30 million units by next year and to 68 million by 2011, up from 3.1 million this year.

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