LG focuses on 3G products and set $1.7billion target sales

date: May 8, 2002

LG Electronics, Korea's second biggest electronics maker, has set a goal of earning $1.7 billion by exporting 11 million handsets this year.

In a press conference, Kim Jong-eun, president of information technology business of LG, saying the company will stabilize its CDMA cellular phone business, and begin a full-fledged supply of GSM-based handsets from this year.

"For this year, we will focus on developing new 3G products and making inroads into overseas markets," Kim said. "The company will expand handset supplies at home and abroad to 45 million units by 2005 to make it the world's five largest mobile phone manufacturer."

To this end, LG plans to enhance its dominance in the domestic color display cellular phone market, and launch a full-scale GSM business in Europe and China.

It will also intensify marketing activities in such strategic areas as the Central and South American region and promote its 3G-handset products.

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