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Strong demand for consumer electronics lifts retail sales during DSF 2007

United Arab Emirates: Wednesday, January 31 - 2007 @ 15:42

Global and regional digital leader LG Electronics announced that consumers snapped up LCD and plasma TVs along with the latest notebook PCs and mobile handsets at a frenzied pace, helping its retailers notch up better-than-expected sales during the 45-day festival.

LG said that it saw enormous growth in LCD TV with sales in Dubai touching an unprecedented 7,000 units in December, up 300 per cent from the year before. Plasma TV sales were up 80 per cent over the same period last year. Demand for notebooks peaked at 15 per cent, while sales of appliances and audio-video products increased by 10 per cent.

“Dubai Shopping Festival is an extremely busy period with consumers shopping for the best bargains,” said C. H. Lee, President, LG Electronics Gulf FZE. “This year we offered some spectacular bargains on our bestselling products such as LCD and plasma TVs, notebooks and audio-video products.”

Retail outlets saw aggressive consumer spending, with LG significantly reducing prices on their leading products such as the Time Machine TV. This year, the company plans to increase its LCD TV unit sales by 27 per cent market share in the MEA region.

Pointing that the positive sales will set the tone for 2007 growth, Lee added: “Throughout DSF, divisions such as home entertainment and household appliances saw strong growth, further underlining our belief in delivering innovative products that enhance consumers’ lives. That passion is reflected in our continued sales growth.”

During the Shopping Festival, LG delivered the 42-inch LCD TV and Plasma Time Machine with built-in digital recorder. The 42-inch LCD TV offers 2 inch larger screen than competitors’ normal sizes – 40 inch LCD TV. “LG will shortly introduce an upgraded version of the Time Machine TV, an HDTV with built-in DVR with differentiated features in order to better meet the entertainment needs of its customers,” Lee added.

LG held a number of events through online as well as offline throughout DSF to promote their audio-visual products. Top prizes included 2 kg in gold and free trips to the West Indies to watch the 2007 Cricket World Cup Super 8 Match on purchases of LG digital and audio-visual products, including LCD TVs and LG’s Time Machine Plasma TV. In addition, 50 winners were guaranteed 100 per cent cash back after the Festival.

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Wednesday, January 31- 2007 @ 15:42 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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