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LG Electronics to Offer $13 Billion Worth of Products to North American Consumers

LG Electronics announced at the Las Vegas Consumer Electronics Show that they are set to sell LG products amounting to $13 billion in North America alone. LG is a big player in the cell phone industry, television and other home electronic appliances. This year, it is looking at manufacturing and offering more high-end mobile handsets to consumers.

Michael Ahn, LG Electronics' president and CEO for North America, said that they plan to introduce top of the line products with advanced technology and features. The company would also look into more classy and exclusive designs for their products. LG would be using these factors to be able to attract their costumers. The company would be using quality and technology to push their products to the Nor-Am consumers. They would not be using affordability and cheap prices to entice more costumers to buy their products.

Last year, LG Electronics sales in North American alone were a stunning $11.5 billion. For this year, aside from banking on their upper-class mobile phones, the company is also looking at offering full-featured plasma and LCD TV's with new and improved designs.

In 2007, LG Electronics successfully launched three new models including the Voyager, Muziq and Venus. Verizon Wireless got exclusivity for Venus- a cell phone designed for the musically inclined. It has 2 dual front screen with a 2.0 MP camera and video recorder, multimedia players with stereo and Bluetooth technology. Voyager by Verizon Wireless is something similar to an iPhone and is jam-packed with a lot of features as well. The Muziq by Sprint is a music phone with a clamshell design.

LG Electronic's goal for the year is to beat Samsung out of it's second ranking in the mobile phone industry. During the third quarter of 2007, LG had 15.6% share of the market in North America. The company is positive that they can strengthen their sales and marketing strategy to be able to reach their $13 billion sales target.