By Kevin Cho
Sept. 6 (Bloomberg) -- LG Electronics Inc., the world’s second-biggest maker of liquid-crystal-display televisions, said the company aims to increase shipments by about 47 percent next year, driven by demand from emerging markets.
LG expects to sell 25 million LCD TVs in 2010, compared with about 17 million sets this year, Simon Kang, head of LG’s home-entertainment division, said in Seoul before the IFA consumer electronics show in Berlin. Shipments of LG’s plasma TVs will probably rise 33 percent to 4 million, Kang said.
LG follows industry leader Samsung Electronics Co. in aiming to exceed the industry’s shipment growth in 2010. Global LCD TV sales will rise 17 percent to 149 million sets next year, Austin, Texas-based research firm DisplaySearch said in a June 17 report. Samsung said Sept. 4 its shipment growth will be higher than that of the market for the period.
“Developing markets will probably have a growth rate of more than double-digits while developed countries will grow” by about 2 percent to 3 percent in 2010, Kang said. “There was a lot of concern at the end of last year, but things have been better than expected and we think this trend may continue.”
DisplaySearch in June raised its 2009 LCD TV industry sales forecast to $76 billion from $66 billion and boosted the full- year LCD TV shipment estimate, citing demand from China and as more consumers replace their bulkier glass-tube sets.
LG overtook Sony Corp. as the second-biggest LCD TV maker in the second quarter, helped by increased shipments to emerging markets, El Segundo, California-based researcher iSuppli Corp. said Sept. 3. Sony fell to fourth behind Sharp Corp. during the period, according to iSuppli.
LG reiterated its plans to sell about 400,000 LCD TVs using light-emitting diodes, or LEDs, as screen backlights instead of conventional fluorescent lights this year. LED backlights are brighter and consume less power.
Global shipments of LED TVs will rise more than 10-fold to 4.5 million sets in 2009, according to iSuppli. Shipments of LED TVs will rise to 98.8 million by 2013, accounting for about 43 percent of the global LCD TV market, iSuppli said.
To contact the reporters on this story: Kevin Cho in Seoul at kcho2@bloomberg.net
Last Updated: September 5, 2009 22:00 EDT
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