LG unveils ambitious home A/V plans at CES '09
In a statement issued to the press, Simon Kang, CEO and president of LG's Home Entertainment Company, said that the business realignment will allow the company "to provide a more complete and integrated home entertainment experience by creating more synergies between our TV and audio-video products". He believes that merging LG's digital display and media businesses will eventually benefit customers, and is confident this will be "LG's major competitive advantage in 2009".
The main focus for the company appears to be its LCD TV business where it hopes to sell more than 18 million units globally and attain a 15 percent market share. To achieve this ambitious target amid the current economic climate, the company will embark on five key initiatives. In addition to differentiating its products by leveraging on its know-how in technologies such as wireless, LED backlighting and TruMotion 240Hz, the company aims to extend its mid- to small-sized flat panel offerings to better cater to user with different budgets. Taking advantage of the conservative strategies that competitors are implementing in the current economic climate, LG will instead invest more in marketing, R&D and new business segments. The Korean company additionally plans to expand its supply-chain management infrastructure and strengthen its collaboration with panel maker LG Display.
LG's gameplan for the PDP market is to increase profitability with plans to focus on larger panels (50-inch and larger) and the business-to-business (B2B) sector. Toward this end, the company announced that it will merge its plasma TV and plasma module divisions in 2009 to be more competitive in the industry. Blu-ray A/V business The Korean electronics maker will focus on developing high-end home theater systems with Blu-ray and equipping them with improved sound technologies through collaboration with sound expert Mark Levinson. The Pure HD Sound audio technology, which is touted to deliver acoustics that sound as real as a live performance, is one such example. The other approach is working with partners such as Netflix, YouTube and CinemaNow to further enhance the networking capabilities of the Korean company's Blu-ray products. Tags: TV, Plasma TV, LG Electronics Inc., LCD TV, flat panel
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LG extends Blu-ray lineup at CES
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