LG seeks 5% share of Japan TV market in 5 years

South Korea's LG Electronics aims to take a five percent share of TV sales in Japan within five years, it said on Monday, as it announced a fresh attempt to enter a market dominated by domestic giants.

The company's Infinia brand televisions, which offer upmarket features such as LED backlighting and 3D capability, will go on sale in November, company executives said at a launch event in Tokyo.

The strategy contrasts with South Korean makers'' operations in other markets, such as the United States, where they are known for competing heavily on price. LG''s TV business profit margin is a razor-thin 0.5%.

Although it is the world's second-largest maker of LCD televisions, LG has previously had little success in the Japanese TV market, from which it withdrew in 2008.

Japanese makers boast a roughly 90% share of the domestic market, with Sharp Corp alone accounting for about 40%, according to research firm BCN.