[ ‘IoT’ target-The Southeast Asia] LG’s attack in the overseas home appliance market
Kim Eun | silverkim@ | 2017-03-15 10:21:27
LG Electronics is about to target the Southeast Asia market by starting to launch the home appliances under Internet of Things (IoT) technology in Thailand within this year.
According to international news on March 14, Kim Sung-jae, chief executive of LG Electronics Thailand branch, unveiled, ‘We plan to launch a smart home appliance based on Internet of Things (IoT) that can be connected to wireless Internet in Thailand within this year and control the appliance through smartphone.’
LG Electronics is aiming to achieve a market share of 5% by targeting smart home appliances market of Thailand. Although the Thailand market is small, it has high growth potential. Overall Thai subsidiary revenue is expected to increase by at least 10% this year through this strategy. Mr. Kim explained, ‘LG Electronics has already strong brand power in the Thai market. The GDP of Thailand is growing and the purchasing power of locals is growing steadily. Therefore the potential of the Thai premium market is high.’
European premium brands such as Electrolux and Millet account for Thailand``s premium electronics market. LG Electronics plans to expand its presence in the premium market by launching a variety of smart appliances equipped with IoT functions such as TVs, refrigerators, washing machines, and air conditioners. Besides, system air conditioners and commercial displays will also be introduced in the Thai market. The company plans to increase its B2B sales from 10% to 50% this year.
LG Electronics plans to launch ‘Smart InstaView Refrigerator’ and ‘LG Top Freezer Refrigerator’ in succession, starting in Thailand in the first half of this year. The Smart InstaView refrigerator is equipped with a 29-inch Windows 10 surface computer on the refrigerator door so that a user can see inside the refrigerator and use smartphone applications to see what``s in the refrigerator. The home-use hub robot, which is presented together with the wireless internet, can control household appliances such as TVs, refrigerators, and air conditioners with only the user``s voice. On the other hand, LG Electronics has already launched a washing machine that applied IoT to the Korean market last month.
A representative of LG Electronics said, ‘The new products including not only low price product but also premium products will be equipped with wireless Internet technology’. He also added, ‘We keep working with major partners to jointly develop the IoT ecosystem and open new customized markets for each region’.
By Kim Eun silverkim@
[ copyright ⓒ The Digitaltimes ]
According to international news on March 14, Kim Sung-jae, chief executive of LG Electronics Thailand branch, unveiled, ‘We plan to launch a smart home appliance based on Internet of Things (IoT) that can be connected to wireless Internet in Thailand within this year and control the appliance through smartphone.’
LG Electronics is aiming to achieve a market share of 5% by targeting smart home appliances market of Thailand. Although the Thailand market is small, it has high growth potential. Overall Thai subsidiary revenue is expected to increase by at least 10% this year through this strategy. Mr. Kim explained, ‘LG Electronics has already strong brand power in the Thai market. The GDP of Thailand is growing and the purchasing power of locals is growing steadily. Therefore the potential of the Thai premium market is high.’
European premium brands such as Electrolux and Millet account for Thailand``s premium electronics market. LG Electronics plans to expand its presence in the premium market by launching a variety of smart appliances equipped with IoT functions such as TVs, refrigerators, washing machines, and air conditioners. Besides, system air conditioners and commercial displays will also be introduced in the Thai market. The company plans to increase its B2B sales from 10% to 50% this year.
LG Electronics plans to launch ‘Smart InstaView Refrigerator’ and ‘LG Top Freezer Refrigerator’ in succession, starting in Thailand in the first half of this year. The Smart InstaView refrigerator is equipped with a 29-inch Windows 10 surface computer on the refrigerator door so that a user can see inside the refrigerator and use smartphone applications to see what``s in the refrigerator. The home-use hub robot, which is presented together with the wireless internet, can control household appliances such as TVs, refrigerators, and air conditioners with only the user``s voice. On the other hand, LG Electronics has already launched a washing machine that applied IoT to the Korean market last month.
A representative of LG Electronics said, ‘The new products including not only low price product but also premium products will be equipped with wireless Internet technology’. He also added, ‘We keep working with major partners to jointly develop the IoT ecosystem and open new customized markets for each region’.
By Kim Eun silverkim@