The economic recession has not affected global digital leader LG, according to its top management attending a marketing conference in China. The company has recorded $3.9 billion (Dh14.3bn) in sales in 2008, 22 per cent more than the previous year.
LG's management said the company has been rapidly growing in the Middle East and Africa (MEA) by differentiated region specific marketing, premium brand strategy and upbringing local talents.
The MEA Marketing Conference (MMC 2008) had its top management including KW Kim, CEO of LG Electronics Middle East and Africa, Dermot Boden LG's CMO and Didier Chenneaveau LG's CSCO, who reviewed the marketing strategies and challenges for the year. More than 300 people, including major partners and dealers, also participated in the event.
"Middle East and Africa are not insulated from the economic recession but these are the markets that have the biggest potential to grow," said Kim.
"LG Electronics MEA Company will achieve more than 20 per cent of sales growth in 2009 with differentiated marketing strategy based on customer insight."
LG has an outstanding market position in several countries in MEA such as Nigeria, Jordan, Iraq, Morocco, Tunisia and Iran.
The annual event, which began in 1995, aims at sharing LG's marketing and growth strategies with its partners, enhance its relationship with major dealers and shed light on new products.
In the Middle East, the commercial business market for home network system, built-in appliances, air-conditioner, monitor and television, is expected to be consistently expanding.