LG seeks to boost production facilities to bump up market share
London: Electronics giant LG has announced its plans to increase investment, in a bid to boost its market share in the wake of strong competition.
The firm said it would invest 20tn won in various subsidiaries, including LG Electronics, in 2013.
The investment will be used to boost production facilities and fund research and development of products, the BBC reports.
Almost two-thirds of the investment will be allocated to increase production facilities at the group's electronics businesses, the report said
This will include expanding production lines to manufacture ultra-high resolution liquid crystal display (LCD) and organic light emitting diode (OELD) display panels, it added.
According to the report, the firm said that its research and development investment would focus on developing smartphone software and next generation flexible and transparent display panels.
The South Korean electronics maker is facing increased competition from rivals like Samsung.