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LG to Make Malaysia Key GSM Market
LG's new digital camera mobile phone

LG Electronics Inc, South Korea's consumer electronics giant with global sales of over US$30 billion (US$1 = RM3.80), will turn Malaysia into its next key market for the expansion of GSM (global system for mobile communication) phone business.

Through its local outfit, LG Electronics (Malaysia) Sdn Bhd, LG Electronics will launch more than 10 new GSM handsets for 2005, starting with 5 models costing RM499 to RM1,599 each from now till June.

LG Malaysia also plans to launch LG's full range of 3G handsets once the third-ge-

neration telecommunications technology is embraced locally.

LG Malaysia managing director I. G. Kim said the company sees itself among the top three mobile phone traders in terms of sales in 2006.

The handset business should make up about 20 percent of LG Malaysia's expected RM800 million turnover this year before rising to 30 percent in 2006, he said. The company raked in a RM350 million revenue last year.

LG ventured into the Malaysia handset market three years ago.

"LG's mobile division has not made great strides in Malaysia. That's in the past. Starting today, you'll see a big change.

"LG's headquarters in South Korea selected Malaysia as the prime mover in South-East Asia in contributing to the group's global expansion in the mobile phone sector," Kim said at LG 2005 Mobile Dealers Convention in Kuala Lumpur yesterday.

He noted that the LG group's mobile phone business churned out US$8 billion (US$1 = RM3.80) revenue in 2004. Some 44 million units were shifted worldwide then.

In the US last year, LG captured 26 percent of the CDMA (code division multiple access) handset market with sales of nearly 16 million units. (New Straits Times)




 

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