Market research organisation DisplaySearch says LG Electronics was the world’s market leader in LED LCD monitors in 2010 with an 18% market share, accounting for 2,92-million of 16,68-million LED LCD monitors sold around the world.
“This represents a strong endorsement of LG’s drive to increase investment in R&D over the last 12 months,” says Mark Ehmke, director of LG Business Solutions Division, South Africa. “The reason for our success is simple: We’ve focused on listening to our customers and then innovating around those needs. To keep on growing our market share, we’re going to be moving strongly into Cinema 3D monitors in the near future.”
From just 1% in 2009, LED monitors’ share of the monitor market leaped to 10% last year. Having prepared in advance for the shift from LCD to LED LCD monitors, Ehmke says LG was well placed to capitalise as the market took off last year. LG invested heavily last year in growing its LED LCD monitor business, while also conducting a major marketing campaign – called “Show Your Sincerity” – in nine countries worldwide.
With LED LCD monitors’ share of the overall monitor market expected to grow to 30% this year from 10% last year, Ehmke says that LG is aiming to secure 20% of this fast-growing sector. As it pushes hard to consolidate its number one position in the global LED LCD monitor market, he adds, the company will be placing a particular focus on products with its In-Plane Switching (IPS) panels, sophisticated, slim design and Cinema 3D monitors.