LG set sights on 20% market share by 2008

South-Korean electronics and home appliances producer LG is planning to become the market leader in Romania by achieving a market share of 15-20% by 2008.

In order to achieve their goal, the Korean company plans to enter the premium products segment in terms of brand recognition and then to introduce new production lines for the medium and medium to low segments.

As a part of this process, LG Electronics Romania, the domestic branch of LG, this autumn began importing and distributing refrigerators with incorporated televisions, a product considered to be sophisticated in the US and western Europe.

“Side-by-side refrigerators with incorporated TVs are already available in Romanian home appliance stores. They retail for around 170 million ROL. However, the purpose of launching these products is not to achieve large sales volumes. In the first year, we expect to sell some 150 to 200 products,” explained Han Khyu, general manager of LG Electronics Romania.

Romania is in fact the first country in Central and Eastern Europe where the company has launched this product. “We want LG to be recognised in Romania as a premium producer and for this very reason our initial purpose is to bring to the market products from our portfolio that can make this recognition possible. At any rate, consumption in Romania is following the model of western countries more than that of the countries that recently joined the European Union,” added Khyu.
georgiana.stavarache@zf.ro