Technology and Design Help Catapult LG Electronics Into Leading Player in U.S. Market
NEW YORK, July 20 /PRNewswire/ -- Driven by double-digit sales growth in its key product categories during the first six months of 2007, LG Electronics is "well on its way to exceed $10 billion in revenues in North America for the full year," according to the company's top executive in the western hemisphere.
In his annual mid-year update, Michael Ahn, president and chief executive of LG Electronics North American Headquarters, said the company's strong emphasis on design and innovation are positioning LG as "one of the fastest-growing premium brands in mobile phones, digital appliances and consumer electronics in the United States today."
Delivering his keynote address at LG's product preview yesterday at the famed Christie's Auction House, Ahn emphasized the event's theme: "LG Masterpieces, a Celebration of Technology and Design," explaining how consumers are integrating technology into their lifestyles like never before.
"This translates into new opportunities for companies like LG Electronics to listen to their customers and leverage innovation to address their needs. At LG, leveraging innovation means capitalizing on key technologies in plasma and LCD panels, digital TV standards, mobile communications and core components."
Brand Momentum
The CEO explained that LG's brand presence continues to grow in the United States with aided brand awareness now at 75 percent. "And our brand perceptions have evolved -- from young and cheerful to innovative and trusted," he said.
The company's commitment to innovation, style and product leadership is reflected in LG's strong growth in 2007, Ahn said. For the first half, LG Electronics' total revenues in the U.S. are up 39 percent from the same period last year. "And we're well on our way to exceed $10 billion in sales of North America for full-year 2007," he said.
Product Leadership
"Product leadership is the centerpiece of LG's success in North America and around the globe," Ahn said. "Design is a key to LG's future, but it is crucial that this design be married to the most advanced technologies in consumer electronics, digital appliances and telecommunications."
He highlighted the company's major global investments in research, engineering and development. LG now operates R&D centers in more than 25 locations around the world, including the digital TV lab in Chicago and mobile phone lab in San Diego. The combined focus on design and technology has made LG a worldwide leader across divisions, "allowing LG to deliver industry-firsts to the marketplace," Ahn said.
Ahn explained that idea of creating products that are symbolic of customer values is consistent with our global "Design Management" philosophy that drives development of products from a design-oriented perspective. "And we've seen results, by developing products that truly meet the consumers' needs and that they are proud to have in their homes, translating into rapid growth for the LG brand in the United States."
About LG Electronics USA, Inc.
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $48.5-billion (2006 consolidated worldwide revenues) global force in consumer electronics, home appliances and mobile communications. In the United States, LG Electronics sells a wide range of digital appliances, digital display and digital media products, and mobile phones under LG's "Life's Good" marketing theme. For more information, please visit http://www.lgusa.com/.
Website: http://www.lgusa.com/
In his annual mid-year update, Michael Ahn, president and chief executive of LG Electronics North American Headquarters, said the company's strong emphasis on design and innovation are positioning LG as "one of the fastest-growing premium brands in mobile phones, digital appliances and consumer electronics in the United States today."
Delivering his keynote address at LG's product preview yesterday at the famed Christie's Auction House, Ahn emphasized the event's theme: "LG Masterpieces, a Celebration of Technology and Design," explaining how consumers are integrating technology into their lifestyles like never before.
"This translates into new opportunities for companies like LG Electronics to listen to their customers and leverage innovation to address their needs. At LG, leveraging innovation means capitalizing on key technologies in plasma and LCD panels, digital TV standards, mobile communications and core components."
Brand Momentum
The CEO explained that LG's brand presence continues to grow in the United States with aided brand awareness now at 75 percent. "And our brand perceptions have evolved -- from young and cheerful to innovative and trusted," he said.
The company's commitment to innovation, style and product leadership is reflected in LG's strong growth in 2007, Ahn said. For the first half, LG Electronics' total revenues in the U.S. are up 39 percent from the same period last year. "And we're well on our way to exceed $10 billion in sales of North America for full-year 2007," he said.
Product Leadership
"Product leadership is the centerpiece of LG's success in North America and around the globe," Ahn said. "Design is a key to LG's future, but it is crucial that this design be married to the most advanced technologies in consumer electronics, digital appliances and telecommunications."
He highlighted the company's major global investments in research, engineering and development. LG now operates R&D centers in more than 25 locations around the world, including the digital TV lab in Chicago and mobile phone lab in San Diego. The combined focus on design and technology has made LG a worldwide leader across divisions, "allowing LG to deliver industry-firsts to the marketplace," Ahn said.
Ahn explained that idea of creating products that are symbolic of customer values is consistent with our global "Design Management" philosophy that drives development of products from a design-oriented perspective. "And we've seen results, by developing products that truly meet the consumers' needs and that they are proud to have in their homes, translating into rapid growth for the LG brand in the United States."
About LG Electronics USA, Inc.
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $48.5-billion (2006 consolidated worldwide revenues) global force in consumer electronics, home appliances and mobile communications. In the United States, LG Electronics sells a wide range of digital appliances, digital display and digital media products, and mobile phones under LG's "Life's Good" marketing theme. For more information, please visit http://www.lgusa.com/.
Website: http://www.lgusa.com/
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