LG Electronics Ready to Roll Into the U.S. Market
By Tatyana Sinioukov
SEOUL, South Korea—Starting now and continuing through the next couple of years, Korea-based LG Electronics (LGE) will be introducing a number of home appliances into the U.S. market. This move, announced by the company during a Korean press tour organized exclusively for the American journalists in South Korea in late May, is part of the company’s plan to pursue what LGE calls “global competitiveness.”
Already a household name in Korea, and in parts of Europe and South America, LGE is now concentrating its efforts on becoming a major producer of home appliance digital TVs and telecom systems for the U.S. market. In November, 1999, Zenith Electronics became LGE’s subsidiary. Since 1999, LGE has also been pursuing the “Digital LG” concept by developing Internet-enabled appliances and multimedia devices that support Internet services and home networking, and now it says it’s ready to introduce some of its Internet-enabled products in the U.S.
According to Michael Ahn, a Seoul-based executive vice president, Digital Appliance, Overseas Sales, in 2001, LGE will introduce to the U.S. market its high-end air conditioners, OTRs, some microwave models, refrigerators with door-cooling technology and front-loading washers, all under the LG brand. LGE’s Energy Star-labeled refrigerator line will roll out in the States by August, Ahn added.
LG Electronics will introduce in the 4th quarter its 1.4- and 2.1-cu. ft. microwaves with True Cook Plus technology ($149 SRP and $169 SRP, respectively). The True Cook Plus technology is a software system that translates numerical codes found on packages into cooking instructions and then “tells” the microwave for how long to cook the food and adjusts wattage power.
By introducing a number of appliances under the LGE brand, Ahn said LGE plans to compete with high-end manufacturers that sell their home appliances in the U.S.