LG Group Aims to Increase Revenue by 11% to a Record $136 Billion in 2011

LG Group, whose units include the world’s third-largest maker of mobile phones, said it is targeting record revenue of 156 trillion won ($136 billion) in 2011 by strengthening its electronics and chemicals businesses.

LG plans to increase revenue by 11 percent from an estimated 141 trillion won this year, South Korea’s fourth- largest family-run industrial group said in an e-mailed statement today.

Units making consumer electronics, displays and handsets aim to boost their combined sales by 13 percent to 97.3 trillion won in 2011 from this year, according to the statement. LG is targeting a 7 percent revenue increase to 27.3 trillion won at the chemicals business, and a 6 percent gain to 31.4 trillion won at the mobile network division.

The group, whose companies include Seoul-based LG Electronics Inc. and LG Display Co., said it plans to sell as many as 40 million flat-screen televisions, without giving a comparative figure.

LG Electronics was unchanged at 114,500 won as of 1:15 p.m. in Seoul trading, and LG Display advanced 2.7 percent to 40,050 won. South Korea’s benchmark Kospi index added 0.8 percent.

LG Group said Dec. 20 it plans to increase spending by 12 percent to a record in 2011, from 18.8 trillion won this year. It will invest 16.3 trillion won in capital expenditure and 4.7 trillion won in research and development, the group said at the time.

To contact the reporter on this story: Sookyung Seo in Seoul at sseo10@bloomberg.net

To contact the editor responsible for this story: Kae Inoue at kinoue@bloomberg.net

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