LG abandons CRT TVs in Europe

LG announced that it has almost stopped the sales of CRT TVs on the European market, betting its future on thin televisions.
The company will sell only its remaining stock.

The LG main supplier of CRT tubes, LG-Philips Displays, couldn't specify the consequences for its two production sites in France and Czech Republic, which they own in a 50-50 percent, but it seems that the company is preparing for restructurings.

The market watchers estimated that the demand for CRT TVs in Europe will drop over 20 percent this year. This figure is double than the one which was estimated by LG at the beginning of the year. Consumers switched their preferences to LCD or Plasma TVs. By the end of the year, CRT TVs will have a 73 percent market share, but less than half of the value.

LG's move of abandoning the CRT market is part of its strategy to focus more on mobile phones. TV sets, refrigerators and washing machines will be the source that will push LG through the first three electronics producers on the European market. LG's high end products generate almost 30 percent of the electronic sales on the European market, and the company intends to overcome this figure by launching new products like refrigerators with built-in TVs, steam washing machines and 3G racing car shaped mobile phones that can establish the level of alcohol in the blood.