Consolidating Market Leadership with Innovation

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As over 250 patrons of LG Electronics from across the Middle East and Africa relish the outcome of the 2017 edition of InnoFest, the company’s annual innovation event, Raheem Akingbolu writes on how cutting edge technology has helped the brand to carve a niche in the global electronics market

Consumers’ quest for sophisticated products has always driven players in the global electronic market to think out of the box and come out with compelling products. In a way, this has given rise to the level of competition among electronic brands globally. Of course, it has also turned out to be blessing in disguise for consumers who now have more choices and better products.

For LG Electronics, the winning number has been ‘innovation’ all through. Through it, the LG brand has not only become a household name but has suddenly emerged as one of the most respected global leaders in the electronic market. few days ago, the company held the Innofest 2017, its annual two-day innovation event, where array of innovative and premium product line-up were made available for over 250 retailers, partners and customers from across the Middle East and Africa (MEA), that witnessed the event. Building upon a long history of award-winning designs and innovative technologies, the company at the forecasted growing demand for ultra-premium products as it ushered in an enhanced line-up for MEA in 2017.

Innofest 2017

Held in Barcelona, Spain, Innofest 2017 represented a crucial platform for reiterating LG’s position in the global consumer electronics and appliance industries. Also, it highlighted the brand’s increased focus and commitment in not only emerging as a leader in the premium product category but also showcasing an expansive line-up of innovative and energy efficient products, planned for MEA, across multiple business units.

President, LG Electronics Middle East & Africa, Kevin Cha, was quoted to have stated at the event that Technology is progressing at a faster pace than ever and the force of the change is becoming even more powerful.
“Today it has progressed to the point where innovation is no longer about creating a better life; instead it is the desire to create a better lifestyle for consumers that underpins our premium product philosophy. 2017 will see LG Electronics pursuing an innovative, energy efficient and a premium product market strategy, positioning the company as a technology innovator with a flair for convenience, design and style,”

According to reports on the annual event, the products paraded included the stylish and most talked about LG Signature line-up, revolutionary OLED TVs and ground-breaking TWIN Wash washing machines. Others are; smart home appliances, energy efficient products and everything in between. It has also been reported that the 2017 line-up combined the best of LG’s cutting-edge technology and world-class design with exquisite attention to detail for today’s most discerning consumers.

OLED W7

With more than 120 awards at CES® 2017, LG’s revolutionary new LG Signature W7 OLED 4K TV bagged the official Engadget CES’ Best of the Best Awards.

Riding on this success, Innofest 2017 is focussing on bringing ground-breaking technologies to the Middle East & Africa markets. The OLED W7 series exemplifies cutting-edge innovation within the home entertainment space. The innovative design of the W7 series follows LG’s “less is more” philosophy, stripping away everything to emphasize the beauty of the screen alone. LG OLED TVs are less than 4mm thick when measured from the wall, to which they can be mounted with magnetic brackets, without any gap between the TV and the wall. The sense of immersion is completed through up-firing speakers which produce Dolby Atmos sound.

LG Signature

Another set of products that were celebrated at the event was LG’s most talked about LG Signature Line-up with the LG Signature OLED TV, LG Signature Refrigerator, the LG Signature TWINWash washing machine and the LG Signature Air Purifier as highlights at the show.

Observers and brand analysts believe that LG’s premium product strategy will witness a boost with the introduction of these premium products across key markets in MEA in 2017.

LG TWINWash

Among the key attractions within the home appliances category was said to be the LG TWINWash™, a product that allows consumers the ability to wash two loads of laundry at the same time. The redesigned 24kg capacity TWINWash is being considered globally as an exceptional innovation for any family on the look-out for the next big thing in home appliances that will make life much simpler.

IoT & Robotics

If there is any product caused a stir at the conference, it was the company’s latest foray into the development of ground-breaking line-up of intelligent robots. It is part of the company’s innovations in artificial intelligence and developments in the IoT ecosystem. The line-up includes a home robot that doubles as a smart home gateway and intelligent home notification centre, enhancing convenience in users’ day-to-day lives.

Green & Energy efficient Air Conditioning Solutions
In the same trend, LG also used the occasion to showcase its latest air conditioning solutions with the cutting edge Inverter Technology. Through the inverter compressor, LG’s products are able to operate under the extreme climatic conditions of the Gulf, even up to 65℃.

While regular air conditioners can only turn on and off, LG Inverter Technology can control rotation frequency to produce cooling more efficiently. The energy saving efficiency has been certified by TUV. The inverter technology is reliable due to increased durability, and it offers optimal indoor environmental comfort for users.

Giving appraisal on the array of products, Cha concluded that the brand has made great strides with the continued support and goodwill of business partners across MEA.
“We are thrilled that through InnoFest 2017, we can continue to meet with our key stakeholders, discuss local market opportunities and expand the reach of our new line-up to many more discerning consumers across the region,” he added.

LG was applauded with 21 CES Innovation Awards from the Consumer Technology Association (CTA™) in 2017 across home appliance, home entertainment and mobile communications categories. LG’s latest products are said to be built on the foundation of excellence and come with a number of new cutting-edge features designed to transform the lives of the consumers. To this end, the management of the company has stated that delivering innovation for a better life will continue to be the foundation of LG’s product strategy for 2017.

Positioning strategies

According to THISDAY findings, many marketing activities have helped LG brand to grow but top among them has been innovation. In the area of communication, the company has also explored almost all legs of communications to reach its target audience. Its handlers have come out with good campaigns, experiential marketing and sponsorships
For instance, it sponsored the English football club Weyside Rovers from 2000 until 2002 and the English football club Fulham F.C until July 2010. It also sponsored the Brazilian football club Sao Paulo FC from 2001 to 2009, during which time the club were the winners of the 2005 FIFA Club World Championship. In August 2013, it was announced that LG Electronics would sponsor German Bundesliga club Bayer 04 Leverkusen for the next three years with an option to extend for one more year. Because of the huge followers that sports command, the brand has been able to attract a lot of patrons in all the markets it involves in sponsorship.