Hyundai Elevator widens market share lead over Otis, ThyssenKrupp

SEOUL, July 28 (Yonhap) -- Hyundai Elevator Co., a local maker of elevators,
increased its share of the South Korean market in the first six months of this
year, widening its lead over foreign rivals such as Otis Elevator Co. and
ThyssenKrupp AG's elevator unit, government data showed Tuesday.
Hyundai Elevator's domestic market share rose to 40 percent in the first half, on
sales of 4,990 units of elevators for the same period, according to the data by
the Ministry of Knowledge Economy.
The figure marked the first time that Hyundai Elevator's local market share has
touched 40 percent.
For the same period, the market share of Otis stood at 19.5 percent and that of
ThyssenKrupp came to 17.5 percent, the data said.
Established in 1984, Hyundai Elevator reached a milestone in April with
cumulative elevator sales surpassing 100,000 units.
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