LG Takes IFA2015 to Release New Home Entertainment Strategy
In order to achieve the goal of selling one LG OLED TV per minute, Brian Kwon, CEO of LG Home Entertainment Division, listed four primary marketing strategies aimed at consolidating LG's leading position in the home entertainment market: (1) Expanding the lineup of OLED TV products, Lead the global OLED TV market; (2) Increase marketing efforts to expand market penetration of OLED TVs; (3) Consolidate the company's dominant position in the smart TV platform business; (4) Improve the profitability of audio and video product segment markets .
Expanding the lineup of OLED TV products
After launching the world’s first 4K OLED TV with high dynamic range (HDR), LG plans to promote HDR technology to more OLED TV products. LG's 4KOLED TV has a novel design with a thickness of only 4.8 mm at the thinnest point and is expected to attract new customers. LG will also introduce more OLED TV products using a series of new features, design features and display formats to meet the different needs of consumers. LG believes that as other manufacturers release OLED TV products one after another, more and more consumers will begin to accept OLED TVs, prompting further growth in this market segment.
LG Takes IFA2015 to Release New Home Entertainment Strategy
Increase marketing efforts
The company will increase its investment in marketing activities, and increase the sales of OLED TVs internationally by holding tour product launches and exhibiting OLED technology at major airports around the world. LG believes that the positive evaluation of LGOLED TVs by product testing organizations and the media will attract more consumers' attention. A U.S. publication recently rated LGOLED TV as the best TV of the year; LG's 65EG9600 TV was also named "king of television" by electronics distributor Value Electronics.
Consolidate smart TV platform business
LG will continue to inject more fresh blood into the webOS platform, including smart TV content from partners such as Netflix and YouTube, movies from local content providers, and several new applications. The company will team up with Amazon to provide HDR content streaming services for webOS 2.0 smart TV users, and at the same time introduce premium upgrade packages for webOS 1.0 users, including free features provided by webOS 2.0.
Improve profitability of audio and video products
LG plans to increase the profitability of displays, digital signage, and audio-visual products. The company's digital signage series products use ultra-thin display screens with a border thickness of less than 2mm to reach the thinnest level in the world. With this product, LG is expected to consolidate its position as a provider of high-end display solutions. The company will also actively introduce a variety of high-end display products, such as 4K resolution 21:9 flat and curved display. LG also plans to launch a series of curved column speakers and portable speakers during IFA 2015 to further enrich the Bluetooth audio lineup.
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