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LG AC sets $10 billion target for 2013

LG Electronics Air Conditioning today announced an aggressive new sales target of USD 10 billion by 2013.
At its annual media event in Seoul, Korea, LG announced marketing strategies to achieve its goal.

The firm will undergo an organizational re-structuring to strengthen the company's focus in residential air conditioning, commercial air conditioning, home management systems, building management systems.The reorganisation includes business expansion into energy solutions such as solar cells.

This is a departure from the company’s traditional setup based on functionality with separate divisions handling roles such as production, R&D and marketing.

'Today, LG AC Company is faced with the opportunity to significantly grow its business by expanding into energy solutions which will serve as our new growth engine,' said Mr. Nho, CEO of LG AC Company.

He added: “We can only become a top global HVAC and energy solutions company by adopting an eco-friendly position and looking toward energy efficient technologies and energy solutions as our main business focus going forward.”

LG has also confirmed that it will be enhancing its eco-friendly credentials by producing highly efficient products and phasing out more substances that do not meet its strict guidelines.
5 January 2010

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