Don't worry, fans of both LG and plasma televisions. All those nasty rumours about the Korean company pulling out of the plasma business are untrue, according to the "position statement" (as opposed to media release) that just landed in my inbox.
As a founding member of the Plasma Display Coalition, we are committed to the plasma business and we believe plasma TVs are an important segment in the flat panel display sector.
While LG plasmas are generally regarded as inferior to the products from Pioneer and Panasonic, it's still good news that they are continuing to develop and release lower-priced screens for the wider community. Because the more players releasing plasma TVs, as well as developing the technology, the better (and cheaper) the format will become.
LG REAFFIRMS COMMITMENT TO PLASMA BUSINESS
Sydney, Australia, 5 March 2009 - LG Electronics (LG) is one of the world's leading producers of plasma display panels (PDPs) and plasma TVs.
As a founding member of the Plasma Display Coalition, we are committed to the plasma business and we believe plasma TVs are an important segment in the flat panel display sector. In addition, unlike some current and former plasma TV players, LG possesses core technologies for plasma TVs and PDP modules, giving us unique advantages in the market. We have invested heavily to strengthen the LG brand in this segment and will continue to do so.
The demand for plasma TVs is still growing. Based on this, we have set a global goal to sell 3 million plasma TVs in 2009, giving us 19 percent of the total plasma TV market. We will focus primarily on plasma TVs 50 inches and larger, where demand is highest.
Warren Kim, TV Category Manager, LG Electronics Australia comments on how this will affect the LG plasma business in Australia.
"We are pleased to report that LG Australia has experienced year on year growth in market share for the plasma TV category. On a local level, we will be focusing primarily on Full High Definition plasma TVs where demand is rapidly growing."
To help us achieve our goal for this year, LG is introducing new plasma TVs with advanced features like Time Machine function and Full HD resolution, along with innovative frameless designs. Additionally, LG is initiating and expanding relationships with both premium retailers and mass merchandisers through proactive collaboration in promotional activities for plasma TVs.
In 2009, we integrated our PDP module and plasma TV businesses to leverage vertical efficiencies between sets and components and create a stronger supply chain.
LG will continue to develop a wide range of plasma displays fully accommodating customer needs and wants.
For more information please visit the LG website at www.lge.com.au or call 1800 LG HELP (1800 544 357) for stockists.