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LG Electronics to invest $25.3B in R&D

Posted: 07 Jun 2004 ?? ?Print Version ?Bookmark and Share

Keywords:lg electronics? pdp? lcd?

LG Electronics Inc. is set to invest $25.3 billion to strengthen its R&D. The company will be increasing its R&D investment annually.

"LG will invest a total of $1.95 billion in research and design in the electronics area in 2004, a 21 percent increase compared with 2003," says K.H. Kim president of LG Electronics for its operations in the Middle East and Africa. "LG will gradually increase investments every year to reach $3.38 billion in 2007 and more than $5.1 billion in 2010, making a grand total of $25.3 billion spent on R&D by 2010."

LG Electronics wants to reinforce its position in the PDP and LCD markets by developing and securing next-generation display, core chip and software technologies.

The company also plans to expand its capabilities in home air conditioners and develop possible business in digital appliances through its R&D investment in mobile handsets, digital TVs and flat panel displays.

In addition, LG Electronics has already set aside $254 million for this year's R&D in home networking, car infotainment, mobile A/V devices and next-generation storage devices and parts.

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