Thursday, January 16, 2003
LG Electronics intends to strengthen its foothold in China by investing heavily in the world's biggest potential market.
The Korean company said its sales in China will double by the year 2005.
LG said it plans to expand its R&D workforce to 2,000 within a span of three years in hopes of becoming one of the top three home appliance manufacturers in China.
LG Electronics, which entered the Chinese market in 1993, is now focusing on wireless equipment, PDP TVs, projection TVs, LCD monitors and DVDs.
After recording sales of US$4 billion in China in 2002, LG set its 2003 sales target at US$5.5 billion.
By: DocMemory
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