Nov. 18, 2006 LG dominates LCD display market with best-selling 'Time Machine' range
LG has submitted approximately 450 patents and the 'Time Machine' TV is expected to be ranked as the leading product in the number of patents out of a single TV category.
Global and regional digital leader LG Electronics has further consolidated its leadership in the LCD display market with its bestselling new range of 'Time Machine' TVs.
LG has submitted approximately 450 patents and the 'Time Machine' TV is expected to be ranked as the leading product in the number of patents out of a single TV category. C. H. Lee, President of LG Electronics Gulf FZE, maintains that as broadcasting technology changes from analog to digital, consumers' demands from television sets is increasing.
'LCD and plasma TVs have seen an explosive growth in recent years, driven by a sharp price decline and tech-savvy consumers trading in bulky CRT (cathode-ray tube) sets for sleek big-screen models LG aims to stay ahead of these demands by introducing products with cutting-edge technology,' Lee added.
LG currently occupies the number one spot for LCD and plasma TVs in the Middle East and Africa, with a combined market share of 40 per cent. The consumer retail and digital signage sectors have driven demand for plasma TVs, along with hotels replacing old CRT sets with flat panel technology.
The 'Time Machine' LCD TV is available in 37 and 42 inches and is the world's first television to be equipped with a built-in Digital Video Recorder (DVR). The advanced 'Time Machine' feature allows users to pause, record and replay TV programs just minutes after the original broadcast.
The one-touch commercial skip features blocks out unwanted commercials with a touch of a button. The units also boast of continuous automatic recording in one-hour intervals. A built-in 80GB hard drive can store up to 40 hours of digital standard-definition programming, eliminating the need for external storage devices.
'LG enjoys a 25 per cent market share for plasma TVs, and more than 15 per cent for LCD TVs in the UAE and the Gulf. We expect regional plasma TV sales to grow by as much as 40 per cent as the demand for flat screen televisions increase. LG plasma TV sales grew 50 per cent in the Gulf last year, and our LCD TV sales shot up by 200 per cent,' Lee pointed out.
The 'Time Machine' TVs boasts of LG's exclusive XD™ Engine that improves brightness, contrast, and 3D colour control. It also offers sharpness enhancement and 3D noise reduction, and the XDS and SRS/BBE Sound System delivers cinematic surround sound.
Clear Filter technology minimises dullness and eliminates the double image reflection of glass filter TVs. The LG DVR PDP's High Definition Multimedia Interface also does away with multiple wires in favour of a single cable for all functions.
LG's global LCD TV revenues rose 138 per cent on the year to a record $11.3 billion in the second quarter, representing 47 per cent of the worldwide TV market.
Lee added: 'LG aims to become the number one player in the global display market by 2010 with global sales of US$10 billion. To achieve this, LG will secure the largest production capability in plasma panels from its four major plants in Mexico, Poland, China and Korea. LG will also build on its region-specific R&D efforts and localised marketing.'
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