LG Electronics Underscores Product, Technology Leadership in U.S. Market at Exclusive New York Event
NEW YORK, July 28 // -- LG Electronics celebrated innovation, technology and design at an exclusive event yesterday at Madame Tussauds' Wax Museum, where more than 200 of the world's most famous personalities are celebrated and honored.
The company hosted its annual "LG - Life's Good" summer line show at the New York City venue where Michael Ahn, chief executive of LG Electronics North American Headquarters, updated guests on progress in the company's key products categories - Digital Displays, Digital Media, Home Appliances and Mobile Phones.
"LG continues to strengthen its premium brand image, and develop products and technologies that enrich peoples' lives on a daily basis," Ahn said. "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."
"Here at Madame Tussauds', we are surrounded by leaders and entertainers that have inspired us and made a positive impact on the world. Like these individuals, we endeavor to impact and enhance the lives of our consumers. Through our dedication to research and development, design and style, and of course, to innovation and technology, we continue to develop products that make peoples' lives better."
Ahn highlighted progress in key areas, including brand, revenue and market leadership:
Brand: Since the official U.S. brand launch in 2003, LG has increased its aided awareness from 33 percent in 2004 to 65 percent 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, one of professional golf's most prestigious events. Further enhancing its brand in the United States are premium products and technologies - such as its flat-panel HDTVs with integrated high-definition digital video recorders, the TV Refrigerator with WeatherPlus(TM), the LG SteamWasher(TM) and the all-new "Chocolate" mobile phone.
Sales: Ahn explained that LG Electronics continues to see impressive growth across all divisions. For the first half of 2006, brand revenues grew by 11 percent from the first half of last year. For the full-year 2005, LG revenues in the United States, Canada and Mexico increased by more than 17 percent, with sales totaling $9 billion.
Market Leadership: "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," Ahn said. For example, LG continues to be the fastest growing mobile phone brand in North America according to Strategy Analytics, Inc. 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 United States this fall, Ahn said.
In digital appliances, the company's goal is to consistently deliver technologically advanced, functional and stylish home appliance innovations, such as the Panorama(TM) French Door Refrigerator with ice and water dispenser, and LG Range with blue interior which offers the industry's largest available capacity oven for a 30-inch range. LG's channel expansion strategy continues to grow with strategic partnerships with Best Buy and The Home Depot, as well as its regional retailer relationships, where LG continues to offer its full line of home appliances. Worldwide, LG Electronics maintains its position as the number one global provider of room air conditioners, microwave ovens and vacuum systems, and is the leader in premium kitchen and laundry systems.
As the world's largest producer of flat-panel displays, LG continues to capitalize on its technology leadership for the U.S. market, Ahn said, explaining that the long-term winners will be those like LG Electronics that possess core technologies in-house. Combining style and functionality, LG has the only LCD and plasma HDTVs with built-in high-definition digital video recorders. Further, LG continues to maintain its number one position in the U.S. 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.
At yesterday night's pre-holiday season preview, the company showcased its broad product portfolio, including its digital displays, digital media, home appliances and mobile phones.
ABOUT LG ELECTRONICS USA, INC.
Based in Englewood Cliffs, N.J., LG Electronics USA, Inc., (LGEUS) is the North American subsidiary of LG Electronics, Inc., a $45-billion global force in consumer electronics and mobile communications. In the United States, LGEUS sells a wide range of digital display and digital media products, digital appliances and mobile phones under LG's "Life's Good" marketing theme. For more information, please visit www.lgusa.com/ .
ABOUT LG ELECTRONICS, INC.
LG Electronics, Inc., is a global leader in consumer electronics and mobile communications. The company has more than 72,000 employees working in 77 subsidiaries and marketing units around the world. LG Electronics is the world's largest producer of CDMA mobile phones, residential air conditioners, optical storage devices and home theater systems. With total worldwide consolidated revenues of more than US$45 billion (2005), LG Electronics comprises four business units: Mobile Communications, Digital Appliance, Digital Display and Digital Media. For more information, please visit www.lge.com/ .
Website:
http://www.lge.com
http://www.LGusa.com
Source: LG Electronics
CONTACT:
John Taylor,
+1-847-941-8181,
jtaylor@lge.com ,
Clara Chang,
+1-201-816-2011,
clarachang@lge.com ,
or Nathan Friedman,
++1-312-397-6009,
nathan.friedman@ogilvypr.com ,
all for LG Electronics
