LG Advances into the Chinese Market

 Pioneering new demand following washers and dryers
Annual sales growth of 30% in Greater China

LG Electronics is accelerating its advance into the Chinese market, often referred to as the ‘graveyard of foreign home appliances.’
According to industry sources, LG Electronics is speeding up its expansion into China by focusing on home appliances equipped with designs that reflect the tastes of local consumers and AI technology.

The business segment achieving the greatest success is the clothing care appliance sector, spearheaded by LG Styler. According to market research firm AVC and others, LG Styler, which was introduced for the first time in 2015 in China, ranked first in the Chinese clothing care appliance market last year, securing a 38.46% market share.
It is assessed that the company has successfully established itself in the Chinese clothing care appliance market, outpacing Chinese appliance company CouCoq, which ranked second with a 19.93% share during the same period, and Samsung Electronics, which took third place with 15.43%.
The Chinese home appliance market has transformed into a prime example of a blue ocean as local companies such as TCL and Hisense have grown rapidly, leveraging price competitiveness as a weapon. Amid these environmental changes, LG Electronics has shifted its strategy, with LG Styler, to a premium approach centered on ‘experience’ rather than ‘price.’
The growth of LG Styler is also confirmed by its global sales performance. Since its launch in 2011, cumulative sales surpassed one million units in 2021, and then broke through two million units in cumulative global sales just five years later. Currently sold in 27 countries worldwide, the LG Styler recorded sales growth of over 30% compared to the last year in the Greater China market, including China and Taiwan, as of last year.
LG Electronics plans to accelerate its efforts to target the business-to-business (B2B) market in China, extending beyond home appliances. In particular, the company is creating new demand by expanding the application of the LG Styler to premium accommodation facilities such as hotels and resorts in China.

 
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