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LG partners with Saudi firm on in-car entertainment

Posted: 11 Mar 2008 ?? ?Print Version ?Bookmark and Share

Keywords:car audio system? video system? car infotainment? Middle East market?

Setting its sights on the untapped Middle Eastern market, LG Electronics Inc. has entered into a business alliance deal with a Saudi Arabian company on car audio and video systems, according to a Korea.net report.

Under the agreement, LG will provide Ahmad Ali Badghaish Electronics Co. with car audio and video systems. Through the partnership, Ahmad Ali Badghaish Electronics targets to become the major player in the Saudi Arabian car audio and video market and transform into a home electronics company, LG said.

According to the South Korean company, it aims to raise its share in the Saudi Arabian car audio and video market to around 20 percent by 2009 on the back of the deal with Ahmad Ali Badghaish Electronics, a subsidiary of Badghaish Group, one of Saudi Arabia's influential conglomerates.

Doubling its efforts to boost brand recognition in the region, LG is optimistic that it will achieve $1 billion sales in the Middle Eastern market.




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