LG Electronics aims to sell $12 million (Dh44 million) worth of refrigerators this year in the UAE, to ensure it is the top refrigerator dealer.
The company's refrigerator sales goal in the lower GCC as a whole is $42 million (Dh154 million), said C.H. Lee, president of LG Gulf FZE.
Its overall goal for 2005 is to strengthen its position in the region's white goods market.
The Middle East contributes six to seven per cent of LG's global revenues, Lee said.
"LG is very strong in the digital appliances range in this region. We have attained a number one position when it comes to air conditioning units, and we lead in a number of other product segments," he said.
LG's strategy is to stay ahead of its rivals by constantly researching new products.
LG's claims regarding its position in the Middle East's white good market are backed by independent data from research agencies, Lee said.
In terms of overall refrigerator unit sales in the UAE, LG leads with a 15.4 per cent market share over its nearest rival, at 10.6 per cent.
It also has a 15.9 per cent lead over its rival's nine per cent in terms of sales turnover, company representatives said.
Total turnover last year was $2.1 billion (Dh7.7 billion), Lee said. Digital appliances represented about 35 per cent of this total.
LG Electronics has introduced two new types of refrigerators to consumers in the region.
One of them combines several appliances into a single package. "This new fridge will allow consumers to enjoy music, movies, satellite broadcasting and cable TV in the kitchen," Lee said.
"Innovation based on customer feedback is the key to growth," said Rakesh Shah, general manager of Al Yousef Electronics, LG's distributor in the UAE.
"Al Yousef's association with LG Electronics ensures we provide our customers with the latest and most striking products."
The Middle East contributes about six to seven per cent of LG's global revenues
Gulf News
