"Our decision to import this model onto the Romanian market was motivated by the appetite of Romanians for luxury brands, but we are unable to predict sales figures," the President of LG Electronics Romania, Han Khyu, told Business Standard.
The company decided that it would expand its range of luxury products this year, and increase its portfolio of LG products sold on the Romanian market by up to 50 percent. "In the TV display segment, the company has reduced the share of conventional TV sets on a yearly basis, and has replaced these with plasma and LCD screens," added Han Khyu.
LG's turnover for 2006 amounted to some €75 million, and the company anticipates an increase of up to €100 million. "It is difficult to say how much of LG's business in Romania is made up of luxury goods, but we can indicate with certainty that demand for such products is increasing steadily, and this motivates the company to raise the share of luxury products in Romania."
LG's competitors on the Romanian luxury cell phone market are Nokia, Sony, Samsung and Motorola.
