LG targets fivefold increase in its market share
LG Electronics Inc targets to raise its market share for 3D TVs fivefold this year. The Company aims to become the top seller of 3D televisions next year, it claimed.
Lee Kwan Sup, Head of marketing, LG's home entertainment unit said, "The Company will probably reach 20 per cent of the market for the devices by the end of 2011, up from 4 per cent at the beginning of the year."
According to market buzz, The Company is pushing 3D to revive falling demand in major markets. TV shipment is believed to decline through 2015 in Western Europe and Japan and stagnate in the US.
"The market will total about 200 million TVs this year, with 3D accounting for some 10 per cent, from 1 per cent last year. If we make a strong push into this newly developing premium segment, we can set a trend and establish an image as an innovator. This is a fortuitous cycle for us, and that's why we're really focusing on this 3D technology", Lee shared.