Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

LG to usher in new era  Join our daily free Newsletter

MENAFN - Khaleej Times - 16/09/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) LG Electronics is all set to usher in new era with the launch of its flagship smartphone range in Dubai this week, a top official said.


The global technology innovator in consumer electronics and mobile communications is confident of securing q double-digit share of smartphone market in Middle East and Africa, or MEA, this year.

"We are going to launch a new product range in premium smartphone segment by introducing the G2 in Dubai. The release will mark LG's re-entry into the region's mobile communications market," Stan Lee, mobile division head of LG Electronics Gulf, told Khaleej Times in an interview ahead of official launch event later this week.

He said the new series of flagship products will be immediately available in the market across the region at a competitive price range.

"The flagship product launch reflects LG's consumer-centric approach and will transform the smartphone market in the region. Premium products, such as the G series smartphones, are an incredibly important part of our business. These models enable us to showcase our competitiveness in the global market place," he said.

"LG will continue to bring megahit products that continue the tradition of excellence established by the G series, which includes the G Pro and G2," he said.

Strong comeback

Lee said LG's mobile phone business remained in a low profile despite the fact that it has been an active player in the market since early 2000. He said the company is confident of increasing its market share in the region with the help of seven products it launched in the premium category this year.

"We sold an impressive 12.1 million smartphones in second quarter of 2013, which is more than double the 5.7 million figures recorded during the same period last year. We will complete the global launch of our new G2 smartphone within eight weeks of its Korean release," he said.

Smartphone competition

Lee is pinning his hopes on the G2 to regain a leading share in the premium smartphone segment due to its superior design, powerful performance and differentiated UX features.

"The G2 launch will have a significant impact on our sales across the globe. We expect good business in premium smartphone category in fourth quarter and the G2 will dominate the market," he said.

"Though the upcoming launch event, we would be entering the double-digit bracket in the MEA region by the end of this year," he added.

About the competition with global peers in smartphone segment, he said the technical specifications of LG's smartphones are equal to, if not better than, the products offered by other companies.

"LG is very strong in terms of its ability to develop advanced UX features and functions. We are confident in the competitiveness of our advanced products," he said.

Lee said the Optimus G Pro has already proven extremely popular worldwide. After only four months of its availability in South Korea, the G Pro hit the million-sold mark - no other LG device has ever sold so quickly. "We feel that this model, and our soon-to-be-released G2, represent viable alternatives to new offerings available in the market," he said.

"As the overall level of smartphone innovation has flattened, so has the technological and product quality gap between the leading companies and the relative new comers," he said, and adding that LG's innovative product range has an edge over the competitors' lineups unveiled this year so far.

"I believe the G2 is an innovative smartphone in premium category and has all the elements to appease the customers looking for a 'real' change," he said.

MEA outlook

Lee said the MEA is the fastest -growing smartphone market in the world with Gulf countries having a major share in the booming business. "The smartphone market in the Gulf region is witnessing a 40 per cent growth annually, which is higher compared to any other part of the world," he said.

In the Gulf, he said the UAE is the benchmark country for the smartphone business and LG is focused to strengthen its position in the emirate by launching the G2 in Dubai.

"We expect the G Pro and G2 will help boost more than double our business in the UAE this year," he said, adding that the G2's commercial launch ahead of the forthcoming Gitex event will promote business prospects of new premium smartphones.

"Gitex is the best technology platform to highlight flagship devices as the consumers, retailers, telecom operators, media and other stakeholders will be under one roof to experience and see a wide range of products," he said.

To a question, he said LG is in talks with leading Gulf telecom operators including etisalat, du and Zain, among others, to promote its premium products.

Core markets

Lee said Korea, the United States, South America and Europe traditionally remain core markets for LG Electronics, but now emerging nations and the MEA have surfaced as strong growth areas for the company.

"Our strategic market growth strategy includes reinforcing our position in mature markets like Korea, the US, Europe and Japan, and establishing a solid foundation in emerging nations including Brazil, Mexico, Russia, the MEA, China and India," he said.

With smartphone penetration in mature markets approaching the 50 per cent mark, Lee said the growth trend has inclined to emerging markets. "There are different consumer needs and cost issues that must be considered. This requires competitiveness across all segments - premium, mid- and lower-tier - and an in-depth understanding of individual markets," he said.

He said LG will target European markets in the second half of this year by launching the acclaimed Optimus G Pro. "We will demonstrate the superior quality and competitiveness of our technology with the worldwide launch of the G2," Lee said.

 


Khaleej Times




  MENA News Headlines
 Mar 6 2015 - Iraq, ExxonMobil eye oil agreementsMENAFN
(MENAFN) Texas-based Exxon Mobil Corp is set to make a deal with Iraqi government to restructure oil agreements in such a way that Iraq will meet its near-term cash needs, Reuters reported.According ...

 Mar 6 2015 - Qatar, Luxembourg to sign financial cooperation dealMENAFN
(MENAFN) A financial delegation from Luxembourg is in Qatar in hopes of driving greater strategic cooperation between the two countries in the field of international finance, The Peninsula Qatar ...

 Mar 6 2015 - Egypt, Dubai's Arabtec to renegotiate terms for USD40b planMENAFN
(MENAFN) Arabtec's chairman is set to meet officials of Egypt's housing ministry to renegotiate terms of USD40 billion housing plan, Arabian Business reported.Egypt's housing minister is in talks ...

 Mar 6 2015 - MERS kills 10 more in Saudi, health campaign broadenedAFP
(MENAFN - AFP) The MERS virus has killed 10 more people in Saudi Arabia over the past week, pushing the death toll above 400, as health officials broaden their campaign to halt its spread. Saudi ...

 Mar 5 2015 - Saudi, South Korea consider trade expansionMENAFN
(MENAFN) South Korean President announced that Korea and Saudi must try to diversify commercial cooperation with an emphasis on nuclear energy, renewable energy, education and health care, Arab News ...

 Mar 5 2015 - Etisalat plans to invest USD1.08b in 2015MENAFN
(MENAFN) Emirates Telecommunications Corporation, also known as etisalat, is planning to invest USD952.7 to USD1.08 billion this year on its infrastructure, fiber optic and 4G networks as well as to ...

 Mar 5 2015 - Qatar seeks 7 percent growth in 2015 despite oil plungeMENAFN
(MENAFN) Qatar's economy is expected to grow 7 percent in 2015, as it forges ahead with huge infrastructure investment despite the drop in oil prices, leading economist said.The figure compares with ...

 Mar 5 2015 - French Assystem acquires 75 percent in Saudi RadiconMENAFN
(MENAFN) Assystem completed the acquisition of 75 percent stake in the Saudi Radicon Gulf Consult (Radicon) to create a new engineering offer in the Saudi market nominated Assystem Radicon, Saudi ...

 Mar 5 2015 - Dutch Vopak to expand Fujairah oil storage capacity in 2015MENAFN
(MENAFN) Dutch Vopak is set to build five crude oil storage tanks with total capacity of 478,000 cubic meters at the port of Fujairah in the UAE, Reuters reported.Vopak is already in a partnership ...

 Mar 5 2015 - Saudi Kingdom Holding signs MoU with Korean Investment CorporationMENAFN
(MENAFN) Riyadh-based Kingdom Holding Company (KHC), signed an MoU with Korea Investment Corporation (KIC), Saudi Gazette reported.The MoU is set at producing more opportunities in private equity ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help