SEOUL, KOREA – LG Electronics announced on December 3 that it has released an 84-type Ultra HD TV in Nigeria, targeting affluent consumers in Africa.Given that there are many high-income families in oil-rich countries in Sub-Saharan Africa, LG Electronics selected Nigeria as its base to gain a larger share in the African premium TV market.
According to a consulting firm Bain & Company, the number of African millionaires is estimated at 120,000, higher than those of Russia which is estimated at around 95,000. The number of “HNWI,” people with more than USD1 million net assets, grew by 4 percent last year, dwarfing Asia-Pacific region’s 1.6 percent.
LG Electronics’ 84-type Ultra HD TV features an Ultra HD (3840x2160) definition, four times clearer than those of full HD (1920×1080). The 84-type Ultra HD TV is also equipped with LG’s unique Cinema 3D technology.
*Article provided by The Korea Economic Daily