In a small report today Rueters has reported that LG states it aims to double it’s global appliance revenues by 2014.
A senior LG executive said that this would be done by new products such as energy-efficient refrigerators, and overtake both Whirlpool and Electrolux as the largest appliances provider.
“By 2014 we will be the number one, and double our sales revenue to $20 billion,” Lee Young-ha, the head of LG’s appliance unit, told Reuters in an interview on the sidelines of the IFA consumer electronics show in Berlin.
Lee forecast a small upturn in the European home appliances market during the second half of the year. “We expect to see a slight recovery in Europe,” he said.