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Biz News Korea(Eng)
LG Elec hopes to double global destinations for air care products
- Collected
- 2016.11.17
- Distributed
- 2016.11.21
- Source
- Go Direct
“With LG’s prowess in air solution business, we will lead the global home appliance market,” said the company’s Home Appliance & Air Solution (H&A) division president Jo Seong-jin at a press conference at LG Twin Tower in Yeouido, Seoul on Thursday.
The company’s air purifier sales for this year have doubled since the launch of PuriCare last year. The growth has been largely driven by brisk sales in Korea and Taiwan. It hopes to increase the number of PuriCare sales networks from current 15 countries to 30 countries by 2018 after entering the U.S. and European market next year.
The global air cleaners’ market has been growing by more than 10 percent per annum over the last three years to amount to $3.7 billion this year. The Chinese market is the biggest at $1.5 billion, followed by that of the U.S. and Japan at $700 million each.
The company plans to focus on its upscale home appliance line-up LG Signature and air care brand PuriCare for the time being.
As of 14:51 p.m. on Thursday, shares of LG Electronics rose 0.32 percent to 47,150 won in Seoul trading.
By Lee Dong-in
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]