Nairobi, 06 November 2020 – LG Electronics in partnership with Opalnet Limited
has today its fourth brandshop amid a 20% increase in consumer demand attributed
to Kenyans increasing preference for using smart electronics and appliances.
LG Electronics East Africa Managing Director Mr. Sa
Nyoung Kim said that an increase in disposable income, a growing middle-class
and a preference to usage of smart electronics and appliances has led to an
increase in demand for LG products since March 2020.
“This brandshop is a showcase of our commitment to
redefining retail standards in the Kenya which we see as having a great growth
potential for LG. Furthermore, we strongly believe that recently introduced
Extended Producer Responsibility Regulations Bill has encouraged the setup of
smart homes and uptake in smart electronics and appliances that support the internet
of things which LG strongly supports,” said Mr. Kim.
The new outlet – operated by LG’s authorized
distributer OpalNet – is located at AdLife Plaza Building in the Nairobi
Kilimani Area and will sell all LG’s popular electronic household products.
Opalnet Limited Managing Director Mr. Rakesh Singh
noted that the brandshop opening seeks to serve a market segment that would
like to interact with products prior to purchase.
“In the last months, we have seen an increase in the
purchase of the LG TWINWASH™ washing machines, the LG OLED televisions and
NanoCell television. Most of our customers visiting our dealers and retail
outlets seeking electronics that will bring the cinemalike experience in their
homes awhile minimizing physical contact,” said Mr. Rakesh.
Designed to meet consumer’s needs, the new shop will also
feature a ThinQ Experience Zone displaying products equipped with Smart ThinQ
and AI technology. This intended to give consumers an exclusive opportunity to
witness firsthand how the company is enabling the AI, premium lifestyle
experience. The product lineup will include the OLED TVs, InstaView™
Door-in-Door® refrigerators, LG TWINWash™ washing machines, DUALCOOL Air
Conditioners among other home appliances.
LG East Africa remains a leading supplier of home
electronics and appliances in the region and has stores in Kenya, Uganda,
Tanzania, Ethiopia, South Sudan, Zambia and Rwanda. Over the years, the company
has been working closely with Opalnet Limited to ensure that LG products get as
closer its consumers. Currently, there are four premium shops in the Kenyan
market as the company plans to expand the premium brand shops to other towns in
the country as well as in the East Africa region.
Last month, LG Electronics Inc. (LG)
announced its third-quarter 2020 consolidated revenue of USD 14.24 billion and
operating profit of USD 807.14 million. Both sales and profits were the
highest for a third quarter in 62-year history of LG Electronics. Led by strong
growth in home appliances and home entertainment, overall sales increased 7.8
percent and operating income improved by 22.7 percent compared with the same
period last year.
The LG Home Appliance & Air Solution Company reported third-quarter revenues of USD
5.18 billion, an increase of 15.5 percent from the same quarter last year and
the highest quarterly sales in the company’s history thanks to a growth in
demand for steam-capable appliances such as washing machines and Stylers. The
LG Home Entertainment Company posted sales in the third quarter of USD
3.09 billion, 14.3 percent higher than the same period last year driven
primarily by the resurgence in demand of premium products such as OLED and
large screen TVs in mature markets of North America and Europe. The company
aims to continue its success by increasing the proportion of premium TVs and to
grow online sales.
ABOUT LG ELECTRONICS, INC.
LG Electronics is a global innovator in technology and consumer goods
with a presence in almost every country in the world and a diverse workforce of
74,000. LG is composed of five companies – Home Appliance & Air Solution,
Home Entertainment, Mobile Communications, Vehicle Component Solutions and
Business Solutions. With 2019 global sales of USD 53 billion, LG is a
leading manufacturer of a wide range of products from TVs, washing machines,
refrigerators, air conditioners, mobile devices, digital signage and automotive
components. LG is also known for its premium LG SIGNATURE and advanced LG ThinQ
brands, which feature the company’s artificial intelligence technology. For
more news on LG, go to www.LGnewsroom.com