Digital manufacturer LG Electronics announced its plans to launch a series of products in Qatar during the year 2002, in a bid to penetrate the country’s high-end segment, stated a company press release. LG Electronics recently reported a 19 percent increase in its sales to Qatar last year compared to 2000 and is targeting a further 20 percent rise this year.
With the recent Arab Monetary Fund (AMF) report putting Qatar at the top of the Gulf Cooperation Council (GCC) per capital income league at $29,278 per person, it is clear the country has one of the highest per capita incomes in the world, a standing the AMF forecasts it will retain for a number of years to come.
“Given this level of wealth, high-end products backed by LG’s acknowledge reputation for quality, should perform very well in the market,” stated a company source.
The Doha-based Video Home is the sole agent for LG products in Qatar, operating 10 retail outlets spread throughout the country, under their group concerns Jumbo Electronics, Qatar Electronics,Jumbo Hitech Center and City Electronics. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
