LG Electronics Targets Display Sales of $20 Billion by 2010

By William Sim

Aug. 31 (Bloomberg) -- LG Electronics Inc., the world's third-largest television maker, said it aims to increase its display sales by 30 percent to $20 billion by 2010.

To achieve the goal, LG plans to invest $500 million in marketing targeting the Americas, China, the Middle East, Africa and Russia, the company said in an e-mailed statement today.

LG is betting more expensive models and sales in emerging markets will help sustain revenue growth at the display division. The loss from the division, which sells plasma screens and televisions, narrowed in the second quarter on higher sales of flat-panel TVs.

Seoul-based LG will also invest $1 billion on research and development for displays by 2010, according to the statement.

To contact the reporter on this story: William Sim in Seoul at wsim2@bloomberg.net