LG to invest $12.3billion in electronics
LG Group has announced it will increase its investment plans for 2011 by 12% over 2010, to a record $18.2billion. The company's electronics divisions will obtain $12.3bn – nearly 70% - of the total investment in a bid to turn around its underperforming handset division. The remainder will be spent on telecommunications networks, services, and its environment focused businesses.
LG says its focus for 2011 is to strengthen its core businesses of smartphones, tablets, tvs and large sized displays. The company is also looking to penetrate new growth areas such as solar cell, new types of displays and small sized display panels for smartphones and tablets.
"LG will invest 16.3trillion won on capital investment next year to strengthen our market dominance in new growth sectors and our core businesses," LG said in a statement.
