LG Electronics aims to double its sales to businesses by 2014 as it moves to shore up struggling channels, according to Bloomberg. The business and financial newswire reported that the electronics giant hoped to massively grow sales to outlets such as hotels and restaurants.
In order to reach revenues of $10 billion dollars in
the business arena, Bloomberg says the company will be looking to double
sales of “flat screens and other gear”.
The agency reported that
LG was looking to hike up its business sales after experiencing a
loss of 120 billion won ($101 million) in its handset business
for the second quarter. Profit has also slumped in the company’s home-entertainment division.
Robert H. Lee, vice president of strategy and business development, told
Bloomberg the division that sells screens, security equipment and other electronic devices
to businesses is one of the “few growth engines for LG Electronics going forward”.