LG to Focus More Aggressively on Premium and
Smart Appliances and Greater Localization in Markets
LAS VEGAS, Jan. 12, 2012 -- LG Electronics (LG)
revealed its home appliance business strategies for 2012 in
a discussion with members of the media at the tail end of
this year's Consumer Electronics Show (CES). Moon-bum Shin,
Executive Vice President and CEO of LG Home Appliance
Company, announced that LG's primary goal this year is to
strengthen its business foundations so that it can achieve
the top position in the home appliance category by 2014. In
order to achieve the objective, LG plans to enhance its
competitive advantage in the refrigerator and washing
machine segments and make strong investments in smart
appliances. Despite the global economic downturn, LG aims
to achieve double digit sales growth rate this
year.
"To accelerate our performance and growth amidst the
global economic challenges, we will pursue value-oriented
qualitative growth with a greater focus on products and
businesses with higher profitability potential," said Mr.
Shin. "The competition is more intense but with a proactive
investment strategy and progressive development of
technologies with solid growth potential, we believe we can
elevate the standards of the appliance market."
On top of that, LG is pushing the boundaries of smart
appliances with new and improved Smart ThinQ™ technology,
offering enhanced convenience and smarter savings. The
upgraded Smart Manager introduced at this year's CES help
consumers maintain their daily nutritional balance and
greatly enhance convenience in the kitchen. LG's unique
Health Manager feature offers specific, nutritious meal
plans and recipes of up to a week based on a family's
profile and medical conditions. Smart Shopping offers
online grocery shopping directly from the refrigerator's
LCD panel, or by smartphone.
LG's Smart Appliances, combined with the upgraded
Smart ThinQ™ technology, will continue to position the
company as the leader in consumer-oriented,
ultra-convenient appliances. Followed by the successful
introduction of four smart appliances in 2011, LG plans to
gradually extend its line-up of smart appliances in the
near future.
In addition, LG will continue to provide upgraded
premium lines of the company's representative
energy-efficient yet large-capacity refrigerators equipped
with LG's Linear Compressor and washing machines equipped
with the Inverter Direct Drive™ motor, raising the bar for
the value-added products market. In 2012, LG aims to be the
top selling washing machine brand in the globe for the
fifth consecutive year, as it has done since 2008.
Refrigerator production is expected to ten million units
for the third consecutive year. Their overall productivity
is expected to increase with continuous
innovation.
And finally, having taken over the reins of LG's HA business unit just one month ago, Mr. Shin feels strongly that LG's success in history has been its ability to meet the diverse needs of consumers in different regional markets. In developed markets, LG will adhere to the energy standards of the North American, European and other developed markets by introducing washing machines equipped with the Inverter Direct Drive™ motor that consume less energy compared to conventional LG models. In emerging markets such as Central America, South America, Southeast Asia and CIS, LG will offer more specialized products that appeal to the specific demands of local consumers, such as refrigerators that operate in homes with uneven electricity supplies.
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