LG seeks to conquer Europe appliance market
LG ELECTRONICS has revealed its goal to win over energy-conscious European consumers and take the lead in the world's largest home-appliance market.
"By 2015, LG will take the lead in the European market, which accounts for 25 per cent of the world's home-appliance market, with energy-efficient and localised products," said Mr Jo Seong Jin, president of LG's home-appliance unit.
"Leadership in the fiercest battlefield will be a stepping stone in winning the world market," he added.
Pledging to record double-digit growth by the same year in Europe, where the firm currently maintains market share of 7 per cent, he emphasised LG's energy-saving technologies.
"LG products are not lagging behind in terms of energy efficiency. With LG's own technologies, such as direct drive and linear compressor, the firm has the upper hand in producing energy-efficient products over its rivals," said Mr Jo, upping the ante against its rivals - including Mille, Siemens and Bosch - which maintain a strong foothold in the region.
Direct drive is a technology that links the drum of a washing machine directly to the motor. The linear compressor generates less internal friction and offers more precise cooling control, which ultimately ensures lower energy consumption, said LG.
THE KOREA HERALD/ASIA NEWS NETWORK