Global and regional digital leader LG Electronics has said sales of its washing machines in the Middle East reached $207.1 million in the first half this year.

The company said total washing machine shipments are expected to reach 10 million units in 2008, a 12 per cent increase from last year, which recorded a global sales of $2.3 billion.   

The achievement put the company among the top three manufacturers. It said it is now targeting the top position globally in this category as well as total sales of $7 billion by 2012.

'Our washing machine business has shown solid sales in spite of global economic hardship thanks to effective localisation strategies and reliable products,' said K W Kim, president and CEO of LG Electronics Middle East & Africa.

'Constant introduction of products based on consumer insights and progressive technology will allow us to become the global leader in washing machines.
 
'By constantly revisiting and enhancing our product line, we are now offering customers the opportunity to choose from a wider range of appliances. We are optimistic that this segment will add significantly to our overall annual revenues,' he added.

LG plans to strengthen its presence in mature countries such as North America, Middle East, Europe, CIS and Korea, where demand for premium products is high.
 
As for top-loading washing machines, LG is launching products incorporating diverse features and extended capabilities intended to attract the niche market between top-loaders and front-loaders, as it emerges from its earlier focus on the value product segment.

With LG's specialised products including front- and top-loading washing machines, dishwashers and dryers, the company is leading new trends in the global appliance industry.

LG persistently conducts extensive analysis and research on the direction of the market and new technology in order to gain consumer insight. - TradeArabia News Service