On the 15th, Du Hua, general manager of LG Electronics’ South China Region, stated that in 2013, one of LG's strategic cores was to use China as a strategic market. "The latest and highest-end products will be launched into the Chinese market, and coverage will be increased through organizations and channels." One of the measures is to launch an OLED (Organic Light-Emitting Diode) TV with a price of more than 100,000 yuan in China in May this year. .
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According to Zhong Yikang's data, in February 2013, LG's retail volume in China's color TV market accounted for 2.13%, slightly higher than the 1.98% recorded in the same period of last year.
Although its share has risen slightly, LG is one of the poorest performers in the Chinese market. According to Display Search's statistics, LG had a market share of 14% in the global color TV industry in 2012; and its share of color TV shipments in the Chinese market in the same year was only 1.6%, and it has declined year by year. This figure was 4.4% in 2010. The year is 2.8%.
Moreover, not only color TV, LG's white goods in the Chinese market as a whole is not satisfactory.
Liu Wei, deputy general manager of Ovid Consulting's flat panel division, analyzed that LG’s TV sales in China were about 1 million units last year. It is more profitable than sales. LG TV is "lost" in China because, first of all, because the product is not complete, Samsung has given the Chinese team the power to plan product, and LG is still developing products from the Korean headquarters. Therefore, the new product is listed at a slower pace than Chinese brands. Secondly, the Chinese channel is complicated. LG is a bit out of place.
Du Hua said that LG will renew its efforts to launch new products and improve channels. In 2013, the company focused on promoting high-end products such as 84-inch 4K (Ultra High Definition) television in the Chinese market.
The much-watched OLED TV will also be listed on schedule. Du Hua said that LG's 55-inch OLED TV is planned to be launched in Beijing in May 2013, and the price will be changed from 169999 yuan to 139999 yuan. “Home appliance prices are like roller coasters, and new technologies and new products can cause price fluctuations. The key to LG is to increase the brand's technical strength and lead the consumer trend in fashion appearance and technology.â€
Du Hua admits that what foreign companies lack is channels. The channels for general foreign-funded enterprises are sales in regional chains, department stores, wholesalers, and specialty stores. At present, LG's channels are mainly in the national chain. Gome and Suning’s sales account for 1/3 of LG’s home appliance sales in China.
Du Hua revealed that this year LG began to develop online to conduct online e-commerce transactions. In addition, as the demand for urbanization in rural areas has increased, the growth rate in the second and third-tier markets is much higher than that in the primary and secondary markets. LG plans to penetrate the products into the second and third-tier markets.
According to data from Ovid Consulting, the retail volume of the Chinese color TV market has increased by more than 40% year-on-year this year. This growth rate is unique in the global market. Last year, China's color TV market sold 40 million units, which accounted for about 1/6 of the 210 million color TV units in the world. This is why LG did not dare to slow down the Chinese market.