SEOUL, Jan 5 - South Korea's LG Electronics Inc (066570.KS) is aming for about 5 trillion won ($4.36 billion) in sales from its air conditioner business in 2010, making up for sharp declines suffered in 2009, a top executive said on Tuesday.
LG, the world's top maker of home air conditioners, saw its dollar-based sales in the air conditioner business drop by some 20 percent last year hit by the weak economy.
Exact 2009 sales figures were not yet available. LG's sales from the air conditioner business reached $5 billion in 2008, or 4.53 trillion won at exchange rates then.
"As the construction industry recovers, we have strong expectations for this year and expect about 5 trillion won in sales," Nho Hwan-yong, chief executive of LG's air conditioner unit, told a news conference.
"We will be able to recover to a pre-recession sales level."
Air conditioners are one of several high-margin products for LG, which also makes mobile phones, appliances and televisions.
Nho said LG was targetting $10 billion in annual sales from the air conditioner unit by 2013, boosting its business in commercial air conditioning, heating and ventilation.
The company has tried to expand its presence in the more lucrative commercial air conditioner segment, competing with global leaders such Daikin Industries Ltd (6367.T) of Japan and Carrier, a unit of U.S.-based United Technologies Corp (UTX.N).
LG is also expanding into lighting and energy solutions, including solar cells.
LG on Tuesday unveiled a new air conditioner lineup under its "Whisen" brand, including models with powerful energy-saving and sterilisation features.
At 0509 GMT, LG shares were flat in the wider market down 0.3 percent.
($1=1147.4 Won)
LG, the world's top maker of home air conditioners, saw its dollar-based sales in the air conditioner business drop by some 20 percent last year hit by the weak economy.
Exact 2009 sales figures were not yet available. LG's sales from the air conditioner business reached $5 billion in 2008, or 4.53 trillion won at exchange rates then.
"As the construction industry recovers, we have strong expectations for this year and expect about 5 trillion won in sales," Nho Hwan-yong, chief executive of LG's air conditioner unit, told a news conference.
"We will be able to recover to a pre-recession sales level."
Air conditioners are one of several high-margin products for LG, which also makes mobile phones, appliances and televisions.
Nho said LG was targetting $10 billion in annual sales from the air conditioner unit by 2013, boosting its business in commercial air conditioning, heating and ventilation.
The company has tried to expand its presence in the more lucrative commercial air conditioner segment, competing with global leaders such Daikin Industries Ltd (6367.T) of Japan and Carrier, a unit of U.S.-based United Technologies Corp (UTX.N).
LG is also expanding into lighting and energy solutions, including solar cells.
LG on Tuesday unveiled a new air conditioner lineup under its "Whisen" brand, including models with powerful energy-saving and sterilisation features.
At 0509 GMT, LG shares were flat in the wider market down 0.3 percent.
($1=1147.4 Won)
