LG Electronics Inc yesterday unveiled a new range of energy-saving home appliances, as the South Korean company aims to secure a double-digit market share in Taiwan next year.
“The ‘smart home appliance range’ will meet users’ expectations, with innovative technologies and energy-saving features that maximize convenience and create greater add-on value for users,” LG Electronics Taiwan president and chief executive Kim Byung-hyung said at the launch of the firm’s new refrigerators and washing machines.
Different from existing products on the market, LG’s new flagship 826-liter refrigerator, named the GR-D82B and priced at NT$99,000 (US$3,405.57), has a smart filtering system that can filtrate nearly 100 percent of harmful bacteria and eliminate odors through four filtration processes, the company said.
LG also launched three medium-sized models of refrigerators, priced between NT$33,490 and NT$35,490, hoping the new products will boost its refrigerator market share to 10 percent next year from this year’s 7 percent, the company said.
In addition, LG yesterday unveiled a new washing machine, which is designed to wash up to 17kg of clothes per cycle, and said it expected to see its washing machine market share increase to 25 percent next year from 20 percent this year.
Moon Kyung-jin, home appliance product marketing director at LG, said all the new products will hit the market by the end of the year, and that the company will be launching a 66-liter washing machine in May next year.
LG expects to see its overall sales in Taiwan grow by 20 percent next year, mainly driven by TVs and smartphones, Kim said.
Kim forecast that the home appliance market would remain flat next year, but that demand for 47-inch screen TVs would continue to grow.
Kim said LG will ship more than 1 million TVs next year to increase its global market share to 20 percent from this year’s 10 percent, as he expects the global penetration rate of larger TV’s will hit 50 percent next year.