Indeed, LG is now the world’s No.1 TV set producer with the company taking 10.2 percent of the global market last year, according to iSuppli.
The U.S.-headquartered consultancy also reported that LG was the runner-up player in the global plasma display panel (PDP) TV and the No. 5 player in liquid crystal display (LCD) TV.
However, Yoon said LG will by no means dwell in the past laurel and will go the extra mile to achieve its ultimate goal of reigning in the flat-panel display competition.
``We are jockeying to become global leader in the PDP TV market in 2007 and do the same in LCD TV a year later,’’ Yoon said.
A 42-inch Time Machine TV of LG Electronics. This liquid crystal display TV, named the 42LB2DR, retails at 4.2 million won. / Courtesy of LG Electronics Plasma Panel Supremacy
LG has production lines in 15 locations worldwide, including its five main bases in Poland, Mexico, China and Russia in addition to Korea.
On the back of the global state-of-the-art lines, LG looks to soar to the highest echelon of the global PDP market and encouraging signs are already visible.
Of particular note is that the company continues to strengthen its competitive edge in PDP modules, the major components of the flat-panel plasma TV sets.
Since entering the plasma TV market in 2001, LG first reached top global position in the segment in the first quarter of this year according to DisplaySearch.
The display market tracker said LG shipped 730,000 PDP panels during the Jan.-March period to cover 31 percent of international demands.
In fact, LG was a runaway winner because perennial leaders of Matsushita Electric Industrial of Japan and Samsung SDI, the cross-city rival of LG, followed with only 560,000 and 550,000 during the same period, respectively.
The effect is felt in major markets for PDP modules such as China, where LG factories in Nanjing become the No. 1 provider of PDP modules.
``During the first half of this year, more than half the Chinese makers of PDP TVs snapped up our modules,’’ said LG president Yang Jung-bae, who leads the firm’s PDP and monitor businesses in Nanjing.
``It is a great advance for us in a year. Our market share was just 40 percent last year in comparison to Samsung’s 55 percent,’’ he said.
LG plans to roll out more than one million PDP modules this year in Nanjing, thus expanding its revenue for core components10 percent to $1.1 billion from last year’s $1 billion.
Yoon noted things would be even better for LG later this year, with the company boasting a capacity to churn out 550,000 PDP modules a month.
Currently, LG can produce 310,000 modules a month _ comprising roughly 70 percent at its Kumi plants in Korea’s North Kyongsang Province and the remaining 30 percent in Nanjing.
``Next year, the monthly capacity will further increase to 730,000 in line with the expansion of our Kumi plants. That will be enough to help us remain atop the global standings,’’ Yoon said.