James Tae, MD, LG Electronics SA, confirms that the LCD and plasma market has seen explosive growth over the past year. This has been driven by a sharp price decline, as well as tech-savvy consumers trading in their bulky CRT TV sets for sleek, flat-panel models.
 
LG has increased its local market share year-on-year, with 52% for plasma and more than 33% for LCD panels measuring 26 inches and above. We have seen 252% growth in demand for our LCD and 169% in plasma panels over the past year, adds Tae.
 
LG currently occupies the number one spot for LCD and plasma panels in the Middle East and Africa, with a combined market share of 40%. The consumer retail and digital signage sectors have driven demand for plasma panels, along with hotels replacing old CRT sets with flat panel technology.

The 'Time Machine LCD, which is one of LGs fastest growing LCD models, is available in 37 and 42 inches.