Global digital leader LG Electronics has embarked on an ambitious strategy to increase its market share in the global consumer electronics industry, and the Middle East and African region will be an important contributor in order to realise this vision, a senior official says.

Speaking at an LG forum held in Dubai, Yong Nam, CEO and vice-chairman of LG Electronics, said that in order to become one of the global top three, LG would focus on implementing strategies that would drive profitability while creating value and user experience for its consumers.
 “In order to remain a leader in the industry, LG will continue to pursue and introduce cost-effective solutions that will greatly enhance the lifestyles of its consumers,” Nam said. “In this regard, we have observed the Middle East as an important market that will dictate our strategies for the future, chiefly because of the high levels of disposable incomes and increasing awareness about the latest technology trends.”
Nam said that LG’s keen insight into the Middle Eastern and African markets had led to the simultaneous introduction of successful concepts in the regional market. “By achieving instant success with innovations such as the Time Machine TV and the Chocolate phone last year, we are confident that the MEA region will react as positively to the upcoming launches of the LG Shine and Prada handsets as well as the dual-format DVD player,” he added.