JEDDAH, 21 January 2004 — LG plans to become the leading electronics brand in Saudi Arabia before year’s end, according to Ki Ho Kim, new Middle East and Africa president of LG Electronics.
Speaking at LG’s Jeddah office yesterday, he listed steps the Korean giant intends to take to achieve its goal. They include new products, new features on existing products and better service and customer care
The company has set a target of $2 billion for the Middle East and Africa for 2004 - “at least 10 percent of it for Saudi Arabia,” he added.
LG also plans closer cooperation between its local partners to improve effectiveness and streamline business practices. “We wish to see LG the symbol of quality and standard of service in the Kingdom,” he said.
Kim, who joined LG in 1991 and had managerial positions in Korea, Turkey and China, said that the global recession had an effect on LG sales. However, the company had achieved its targets and performed particularly well in certain countries. Sales of some products had been outstanding. LG air conditioners, washing machines, CD Roms, monitors, refrigerators and microwave ovens remained No. 1 in the Kingdom, he said. “Our share of the pie has become bigger although the overall size of the pie has shrunk due to well-known global factors,” Kim said. A particular success, says LG, has been the introduction of its line of mobile phones to the Kingdom including the Qibla phone that points toward Makkah.
On reports that LG is thinking of starting an assembly plant in the region, Kim said that the company was keeping its options open.
