LG Unveils Streaming Blu-ray Player
The company also showed the 1808p LG90 (47 inches; $3,599), its first LCD LED backlighting model with local dimming. Specs include a million-to-one contrast ratio, ISFcc certification, and a simplified user interface.
He said that all LG 1080p sets carry Intelligent Sensor technology, which automatically optimizes image quality, brightness and color, enabling a 56 percent power savings.
Another bit of “green”-related news was the announcement by LG Electronics USA president Teddy Hwang of a partnership between LG and Waste Management. The LG Electronics Recycling program, launching this month, will permit consumers to drop off any LG, Zenith or Goldstar products for recycling free of charge at 160 centers around the country that cover most of the 50 states and will cover all of them by September.
At the product show, LG Electronics North America CEO and president Michael Ahn provided an overview of LG’s U.S. sales and market share performance for this year. He said that despite the economic slowdown, LG’s overall sales grew 18 percent to enable the company to achieve $5.6 billion in revenues. “Eighty to 90 percent of consumers recognize the LG brand,” he said.
In mobile phones, the company achieved a 22 percent market share. In flat-panel TVs, since the changeover from the Zenith brand in October 2004, LG has gained two to three percent market share each year and it realized a nine percent market share in the U.S. for the first quarter of 2008. “In the second half, we expect to achieve double-digit market share,” he added. While the appliances market has been struggling industrywide, Ahn said, with sales down nine percent versus 2007, “we grew just one percent, but did better than our competitors.”
In logistics, he said, the company saved 15 percent in its U.S.-side costs, despite gas price spikes. It has also invested in bolstering its number of technicians, and is on target to employ over 100 in-house by year’s end versus just 20 last year. “The most important resource is people for success,” he stated, “and we are recruiting top-notch talent.”