LG Electronics has reported a 45 percent increase in sales of its video products in the Middle East and Africa last year compared to 1999, reported the Gulf News on Thursday. The global digital company is now eyeing a further 21 percent increase in regional sales this year with the imminent launch of updated DVD technology, the paper added.
Last year, Iran and the UAE emerged as the region's top video product markets.
Sales in the UAE, including re-exports, came to $21 million; Iran followed with $19 million.
"This year we are projecting regional sales of 640,000 units, worth some $58.3 million, and are confident of achieving the target by focusing on the launch of new DVD products which we believe will grow the UAE market by another 60 per cent," said one LG digital media products manager.
Regional sales hopes are riding on a new DVD designed specifically for digital TVs.
It is due to enter the market in the fourth quarter. LG hopes to capture 25 percent of the world's 30,000-million unit DVD market this year, said the paper - ALbawaba.com
© 2001 Al Bawaba (www.albawaba.com)
