LG ELECTRONICS

Jul 2017

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LG Electronics is a South Korean global leader and technology innovator in consumer electronics, mobile communications and home appliances that has been investing in Egypt since 1991. The company is considered one of the top global leaders in technological devices and one the world's most sustainable corporations operating in Egypt. It is a major contributor to the Egyptian Gross Domestic Product through its factory which employs over 1,400 people. LG Electronics has five business units – Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG Electronics has been proactively working towards improving the avenues for consumers to shop for LG's latest product offerings in the Middle East and Africa region. Between 2013 and 2015, LG's retail sales in Egypt grew by a CAGR of 6.3%, despite economic and political uncertainty. In 2016, the company's exports reached 50% of total local production and it aims to increase this figure to 75% by the end of 2017. LG has benefited from its presence in the Egyptian market, through free trade agreements, in addition to the ease of the export process due to proximity to targeted markets. The company is planning an expansion by launching a new washing machine line, in addition to increasing its television unit production from 1 million in 2016 to 1.3 – 1.5 million in 2017, to reach 1.6 – 1.8 million in 2018.?