LG optimistic of double-digit sales growth with new premium products

PETALING JAYA: LG Electronics (M) Sdn Bhd is upbeat about its business outlook this year compared with last year, and eyes a double-digit sales growth driven by its premium products segment.

Managing Director Kim Kyutae said the company’s switch to the premium products was a strategy to capture and fulfil customers’ demand.

“Our innovative premium product range will help us achieve our target sales volume and be the number one brand in Asia as we are the first to feature unique and state-of-the-art technologies in the market compared with our competitors,” he said at LG’s new products introduction here, today.  

Among of the products that LG is banking on are the new organic light-emitting diode (OLED) television that features the alpha9 (α9) intelligent processor and TWINWash washing machine that enables two loads of laundry of different wash cycles at the same time.

Another unique product is the InstaView refrigerator that allows a see-through with a simple ‘knock-on’ feature whilst reducing air loss of up to 41 per cent.

Kim said LG hoped the introduction of the new products would create a niche market for the company.

Meanwhile, Marketing General Manager Kong Mun Keen said the new products would be introduced in phases starting this month as the company was still fine-tuning some of its marketing strategy.

“The dishwasher, clothes dryer and air-conditioning products are in the line-up, except for our steam clothing care system and air purifier products which we have not decided yet,” said Kong.

He added that the company would offer discounts, freebies and gift vouchers for the coming festive season and during the introduction of new products, which will be announced through its website and social media channels. - Bernama
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business News

Trading ideas: Gamuda, Poh Huat, Aeon Credit Service, Hiap Teck, Scientex, Gadang, KNM, Heng Huat and UEM Edgenta
Reservoir Link secures well-test job
Gadang wins RM188mil PWD contract
Gamuda bullish about prospects
Pound may need to fall to plug the hole of UK’s international debt
Better harvest seen for Kim Loong in FY23
Supercomnet set for healthy order flows across three segments
HLB aims to build world-class digital capabilities
Japan, PETRONAS to cooperate on gas investment
Economy on solid, stable footing, says Zafrul

Others Also Read