LG Electronics (Thailand) announces its success in 2022 with the number one market share in both product groups, including washing machines. It has a market share of 34% and premium TV products. It has a market share of 75% with total sales value of both product groups at 7,900 million baht.
Amnat Singhachan, Senior Marketing Manager, LG Electronics (Thailand) Co., Ltd., said that 2022 is a very challenging year in the electrical appliance market. both in terms of rising production costs and price competition from various electrical appliance brands
But LG maintains its standard as a global leader in electrical products by delivering washing machines. and smart TVs powered by advanced technology for a better user experience for consumers.
Through the ability to manage production costs together with global partner companies in the production of parts. and leading transport companies therefore not increasing the price of electrical products throughout the past year We also offer more options in terms of price to premium to mid-range customers who are LG’s core customers.
In 2023, LG will continue to strive to develop innovative, high-quality electrical products to penetrate high-end and middle-class consumers. through the launch of new products that cover all needs
for the LG washing machine product range It is considered the product that contributes the most revenue from all product groups. In 2022, LG sold 418,000 washing machines worth 4,160 million baht.
Top-loading washing machines accounted for 46% of the share in the washing machine category. For 2023, LG plans to penetrate the premium washing machine market to increase sales for the company.
In November 2022, LG began shipping the LG WashTower, a washing machine and dryer in one machine that comes in a tower format, available for the first time in Thailand to target premium customers who live in a limited area like homes. Apartments and Condominiums
Expect good response from premium customers to the latest WashTower, reaching 2,500 units in 2023 and preparing for the launch of a new line of top-loading washing machines in March 2023.
while the TV product group LG has maintained its leadership position in the premium TV segment for 10 consecutive years with sales of LG’s premium LG OLED TVs. In 2022, we sold 230,000 TVs worth 3,738. million baht
Divided into 10,600 LG OLED TVs, worth 520 million baht. LG also sees the potential of the premium TV market. that tends to grow continuously The share of LG’s OLED TV sales is 75% in 2022, up from 37% the year before.
“In 2022, we launched a variety of TV line-ups. Add new series options and more diverse sizes To target both high-end customers to new customers who want high-performance picture presentation technology from LG TVs, LG aims to increase the total TV market share to 23% by 2023, focusing on Drive the premium market to grow even more. And set sales targets for OLED TVs at 75%, while targeting sales of large screen TVs 70 inches or more at 30%.
Marketing in the past year LG focuses on promotions for middle to high-end products through matchmaking sales to boost purchase volume among high purchasing power customers. And for middle class customers down, will focus on price reductions and long-term installment promotions in collaboration with dealers. In 2023, LG is also preparing a plan to continuously stimulate the market with marketing activities. and various promotions in many channels
