LG Egypt aims to increase its market share of TV sales to 33% by the end of this year, according to the TV department director at LG Egypt, Mohamed Talaat.
He said that LG’s sales witnessed a significant improvement over the past year and the first quarter (Q1) of this year due to the stability of the exchange rate and the growth of local market sales.
Talaat added that LG is the second largest seller of TVs in Egypt with a market share of 30%, with only a 0.5% gap from the top seller.
He pointed out that TV sales in Egypt are growing well this year, amid expectations of a 40% growth in the market’s sales during 2018.
The total expected TV sales are 2.7m devices by the end of 2018, compared to 1.9m last year.
LG achieved $200m from exports of TVs produced at its factory in 10th of Ramadan. The local component of LG’s TVs is estimated at 40%.
The company exports about 70% of its production while the rest is directed to the domestic market. LG Egypt exports its products to more than 15 countries in the Middle East and North Africa.