LG Electronics doubles sales

Electronics and home appliances distributor LG Electronics Romania has posted 20 million euros of sales for the first half of 2005. The results mean the company is still on track to attain its full-year target of 45 million euros, sales manager Cristian Comanici said. The company sales for the first six months of 2005 equalled its sales for the whole of 2004. LG Romania will continue to focus on the premium class, in which it intends to become the top player by 2008, with a 20% market share, according to chairman Han Khyu. LG is launching side-by-side refrigerators in Romania. Having already introduced refrigerators with built-in LCD TVs, it launched three-door models this Tuesday. Side-by-side deluxe refrigerators account for 3% of the total market, and LG has 51% of this segment, Han Khyu said. The Romanian branch of the South-Korean company, LG Electronics Romania, was established at the beginning of last year. Before this, LG products were distributed through Romanel. LG”s competitors on the domestic market are Electrolux, Bosch, Philips, Samsung and Whirlpool. ZF