[Concall] LG Electronics "Simultaneous Targeting of Premium and Entry-Level TV Markets Amid Chinese Low-Cost Offensive"

Lee Jung-hee, Executive Vice President of LG Electronics HE Management, stated during the Q3 earnings conference call on the 24th, "As you may already know from the market, Chinese companies are pursuing a strategy to expand market share by selling entry-level products and extra-large lineups at lower prices. This strategic direction is far from our goal of creating customer value through product differentiation, and excessive price cuts raise concerns about distribution inventory issues and profitability deterioration across the industry ecosystem."

He continued, "We aim to maintain competitive advantages in premium TV product lines such as OLED and QNED, which have already been recognized for their product quality, and to respond to competition with Chinese companies by securing cost competitiveness through purchasing and production efficiency in the entry-level TV market. We will provide customer value with LG TV's differentiated product competitiveness and secure an appropriate level of profitability."

He added, "For example, by expanding the release of entry-level products equipped with webOS, which is regarded as a company strength, we have strengthened product competitiveness in the volume zone, maintained relatively favorable evaluation levels, and achieved increased sales of entry-level products."

LG Twin Towers, Yeongdeungpo-gu, Seoul
Photo by Yonhap News

This content was produced with the assistance of AI translation services.