The world’s number two TV brand, LG Electronics recently revealed that the company was aiming to increase its share of LCD TVs in the global market. Apparently, the company is hoping to boost its global market share from 11% last year to 15% this year by increasing sales of its units by 54%.
LG Electronics, the South Korea based company, confirmed that the target sales for its Liquid Crystal Display (LCD) units for 2010 was 25 million. Also included in the goal is the hope to sell seven million high end models that will feature LED (Light Emitting Diode) backlights.
The company whose main rivals are Samsung Electronics, Sharp Corp and Sony Corp managed to sell 16.5 million LCD TVs last year. LG is also looking to establish its goal of selling around 4 million plasma TVs this year, with its main focus on the larger sets.
According to LG, even though the market for plasma TVs is slowing due to the competition between LCD models, the market for plasma TVs that measure more than 50 inches is expected to increase by 15% in 2010. The company also aims to sell around 2.5 million Blu-ray players this year.
The increasing demand for LCD TVs will also see an increase in sales of LCD TV brackets. This is mainly because LCD TV brackets are considered the best way to mount these TVs.