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LG outlines growth strategy in the US

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MUMBAI: LG Electronics in the US has recently celebrated innovation, technology and design at an event at Madame Tussauds' Wax Museum, where more than 200 of the world's most famous personalities are celebrated and honoured.

The company hosted its annual LG - Life's Good summer line show at New York City where LG US CEO Michael Ahn updated guests on progress in the company's key products categories - digital displays, digital media, home appliances and mobile phones.

Ahn said, "LG continues to strengthen its premium brand image, and develop products and technologies that enrich peoples' lives on a daily basis. Our 'Life's Good' marketing theme embodies our commitment to creating leading-edge technologies and design that enhance the way we live, work and interact with each other."

Ahn highlighted progress in key areas, including brand, revenue and market leadership: He noted that since the official US brand launch in 2003, LG has increased its aided awareness from 33 per cent in 2004 to 65 per cent in 2005, demonstrating the company's success of the "Life's Good" campaign, as well as its premium brand positioning.

This year, the company launched a new broadcast and print advertising campaign, highlighting its three product divisions, and announced the exclusive three-year title sponsorship of the LG Skins Game a golf event. Ahn noted that what helps to further enhance its brand in the US are premium products and technologies - such as its flat-panel HDTVs with integrated high-definition digital video recorders, the TV Refrigerator with WeatherPlus, the LG SteamWasher and the

all-new 'Chocolate' mobile phone.
Ahn explained that LG Electronics continues to see impressive growth across all divisions. For the first half of 2006, brand revenues grew by 11 per cent from the first half of last year. For the full-year 2005, LG revenues in the US, Canada and Mexico increased by more than 17 per cent, with sales totaling $9 billion.

He said, "We are dedicated to bringing premium products to consumers, and continue to make great strides in establishing and maintaining our leadership position across all divisions" . For example, LG continues to be the fastest growing mobile phone brand in North America according to Strategy Analytics and is the largest provider of CDMA handsets worldwide. Supporting continued momentum for LG mobile phones are unique new mobile phone designs and features coming to the US later this year.

As the world's largest producer of flat-panel displays, LG says that it continues to capitalise on its technology leadership for the US market, Ahn said. He explains that the long-term winners will be those like LG Electronics that possess core technologies in-house. Combining style and functionality, LG claims to have the only LCD and plasma HDTVs with built-in high-definition digital video recorders.

Further, LG says that it continues to maintain its number one position in the US digital storage market led by its Super Multi optical drives (including its new Blu-Ray drive), while continuing the growth of its LCD computer monitor business.

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