LG Electronics aims for 10 pct rise in air conditioner sales

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SEOUL, Jan. 6 (Yonhap) -- LG Electronics Inc., South Korea's second-largest
consumer electronics maker, said Tuesday it aims to sell 10 percent more air
conditioners worldwide this year than last year, despite the global economic
downturn.
LG set its revenue target for air conditioners at US$5.5 billion in 2009,
compared with $5 billion in 2008, Nho Hwan-yong, chief of the company's
air-conditioning division, told reporters.
While the global downturn has hammered the consumer electronics industry, LG saw
its market share in air conditioner sales gain in the United States, Europe and
emerging markets last year, said Nho.
"The global economy is in a recessionary phase, but we can manage to achieve
about 10 percent growth this year," Nho said.
By 2012, Nho said LG, which claims the title of the world's No. 1 maker of
residential air conditioners, targets overtaking Carrier Corp. of the United
States and Daikin Industries Ltd. of Japan as the world's top player in the
commercial air conditioner market.
Currently, both Carrier and Daikin post an annual revenue of $10 billion each,
the LG executive said.
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