LG Electronics aims for $10b air conditioner sales in 2013

LG Electronics Inc. said Wednesday it aims to post $10 billion in global air conditioner sales in 2013, a goal that is forecast to propel the consumer electronics giant’s growth in the international market.

“LG Electronics hopes to post $10 billion in global air conditioner sales in 2013,” said Nho Hwan-yong, head of the air conditioner business, in a press conference.

The company also aims to sell 1 million units in the local market this year, claiming more than 50 percent of the market share, said Nho, adding that the domestic market is estimated at around 2 million units.

Nho’s remarks come a day after LG Electronics said it aims to become a global leader in the industry by posting $20 billion in annual sales of home appliances in 2014.

The company has been beefing up efforts to strengthen its foothold in the global home appliance market. Late last year, LG Group said it will invest a record 21 trillion won in 2011 in a bid to reinforce its main businesses and nurture new growth engines.

Meanwhile, LG Electronics’ home rival Samsung Electronics Co.

said on Tuesday it aims to post $30 billion in sales in 2015 from its home appliance business by developing new growth engines. 

(Yonhap News)