LG Planning to Boost Investment by 12% Next Year

South Korea’s fourth largest conglomerate, LG, is planning on injecting an additional 12% into investments in 2011, compared to 2010. This translates to a total of $18.2 billion for the company to breathe life into its struggling handset operation, the core of LG Electronics Inc.

LG’s latest line of smartphones, the Optimus line up, has garnered a total of 2 million units moved since its launch in October.

An LG rep had this to say:

The focus for 2011 will be bolstering our core businesses of smartphones, tablets, TVs and large-sized displays and also supporting new growth engines such as solar cell, new types of displays and small-sized display panels for smartphones and tablets.

The electronics unit of LG will get the largest chunk of the investment. A total of $12.29 billion will be handed to them to bloster their market share in the electronics industry.

[via Reuters]

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  • Adrian

    score! :)
    suppose if they do really well out of this, other companies will have to follow

  • Clark Kent

    Not for nothing, but I don’t think I’ve been satisfied with an LG product…ever.

  • john the lesser

    solar cell on a phone might be nice. i have my own ideas about the future of power.

  • Fred

    The new LG devices are promising. Very interested. The LG Optimus phones work great.