An attendee checks out an LG Electronics 47-inch LCD HDTV with slim, full LED-backlight technology and NetCast Entertainment Access at the 2010 International Consumer Electronics Show in Las Vegas.[China Daily]
BEIJING - LG Electronics Inc, the world's second largest TV brand and third biggest mobile phone maker, expects to double its sales in China this year as the global economic recovery spurs demand."LG Electronics is on track to a 100 percent growth in China," Choong Bong Cho, chief executive officer of LG Electronics Greater China Region said in an interview with China Daily. 
Sales of LG Electronics in China reached approximately $22 billion last year, according to the company.
He added that the company's sales in China grew by 80 percent year-on-year over the first quarter, mainly led by rising demand for mobile phones, LCD (liquid crystal display) TVs and other home appliances bolstered by government subsidies for residents in rural areas launched in late 2008.
China is currently the sixth largest market for LG Electronics, and the company hopes it will play a bigger role in its global business.
"We've just redefined China as a market equally important with South Korea," said Cho, adding that the company hopes to increase the manufacturing force in China.
The company is now waiting for approval from the Chinese government for LG Display Co, the world's second largest LCD maker that LG Electronics is the largest shareholder in, to set up a plant in China to produce eighth-generation LCD displays.
According to Semiconductor Equipment and Materials International (SEMI), China is likely to be the largest LCD TV market in the world this year, with its LCD TV sales forecast to grow by nine million units this year.
SEMI is an industry association serving the manufacturing supply chain for the microelectronic, display and photovoltaic industries.
LG Electronics is also betting big on three-dimensional (3-D) televisions, launching 3-D sets in China on Tuesday, after it said last month it aims to sell about one million 3-D TVs this year to take one-fourth of the global market.
LG Electronics faces growing 3-D competition from domestic TV makers in the China market including Guangdong-based TCL Corp, Konka Group Co and Skyworth Digital Holdings.
Foreign players Samsung Electronics Co Ltd and Sony Corp also plan to launch 3-D TVs in China in the near future.
While 3-D TVs may be a future trend, it will take some time for them to be a big revenue generator, said analysts.
"There are few 3-D TV programs, so even though the 3-D TV technology is here, there is little content consumers can choose from," said Zhu Lijun, an analyst with China Galaxy Securities Co Ltd.
