Business Services Industry
MIDDLE EAST: LOCAL AIR CONDITIONING MARKET VALUED.(Brief Article)
IPR Strategic Business Information Database, May, 2003
According to the Al-Quds Al-Arabi newspaper (May 26, 2003), Mon Shin, President of LG Electronics Middle East and Africa, estimates the value of the air conditioning market in the Middle East at two billion dollars per annum. KS Hwang, Vice President of LG Electronics said that LG now has 14.3 percent of the global room air conditioning market.
This means that one out of every seven air conditioners sold around the world last year was made by LG.
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