Editor TLN
“The first bet was to bring our 55-inch television, but later we continued to bring innovative technology to the country (…) now we are in more sectors, we not only have televisions,” Jaime Heo, CEO, pointed out at the brand celebration. of LG Electronics Mexico.
The proximity of the brand of South Korean origin is not only in terms of business, but also in manufacturing, since Mexico is one of the countries where LG has television factories.
According to the Market Research Future (MRFR) report on the SmarTV’s market in the world, this business vertical will grow 16.30% between 2022 and 2030 and will reach around 25.5 billion dollars in revenue by the end of 2030, making it a competitive sector where names like Samsung, Sony or Hisense have resonated in the market.
“Our TVs represent 60% of all OLED TVs sold in the world and exceeded 15 million units at the end of last year. This has led the company to be able to offer a more varied offer”, pointed out the company.
For this reason, in addition to the manufacture of televisions for homes or offices, the company has sought to have a catalog of products for gamers or companies.
“We have been constant and during these 10 years we have invested in research and development”, commented Jaime Heo.
Mexico as a producer of televisions
North America is the largest market for smart TVs and the United States is the main driver of growth in the region, which is why the proximity between these countries has driven the presence of new products, such as the lines that LG presented at the CES 2023.
In addition to LG, companies like Hisense have also relied on the manufacture of this type of product in the country due to its good geographical location and specialized plants for this type of product. And in fact, its plant located in Monterrey had an investment of 260 million dollars.
