LG targets refrigerator sales worth USD40 million in Saudi Arabia

One is a full-size, side-by-side refrigerator with a 13-inch TFT LCD TV monitor and radio functions, while the other is an Xtrawide three-door, side-by-side fridge product.

LG is the market leader in refrigerator sales in the GCC, for both number of units sold and value of sales turnover. According to German-based research bureau GfK, LG is number one for refrigerator sales in Saudi Arabia, with a market share of 23 per cent. LG generated sales worth US$30 million in the Kingdom last year, and is expecting sales revenue from its fridge products to hit US$40 million by the end of 2005

Attending today's product launch, Mr. C.K Cho, General Manager of LG Electronics Saudi Arabia, said: "With the introduction of these new refrigerator products, LG will further consolidate its leadership position. The TV refrigerator has been launched after local consumer research showed that today's multi-tasking men and women want to use their kitchen for leisure time and entertainment as much as for cooking. This new fridge will allow consumers to enjoy music, movies, satellite broadcasting and cable TV in the kitchen."

Mr. Cho added: "LG is a market leader in the big capacity side-by-side refrigerator segment with 30 per cent market share in the GCC, and innovative products like LG's new TV fridge demonstrate why."

LG's interactive TV fridge is one of two large-size, side-by-side refrigerators offering tremendous capacity, styling, hygiene and functionality. Both fridges are available in a range of colours, and a titanium finish. The new LG products are treated with silver ions to beat bacteria, fungi and mold. The interiors also boast large cooling compartments, and the side-by-side door configuration, supporting wide drawers and adjustable shelves, enables easier storage of large food platters.

A segmented freezer drawer at the base of the refrigerators increases both convenience and storage capacity, as it slides out to facilitate loading from the side. The TV fridge has a capacity of 27 cubic feet, while its three-door, side-by-side twin is slightly smaller, with a gross capacity of 25 cubic feet.

With the three-door, side-by-side refrigerator, LG makes it possible to store food in any shape or size. The fridge features extra wide storage space in the form of adjustable bins and drawers, and five digital sensors for accurate temperature controls to ensure food preservation and freshness. It also has a tilting freezer door for easy access to inner drawers.

Attending today's launch, Mr. H.K Seo, Managing Director of United Yousef M. Naghi Co. Ltd, LG's distributor in Saudi Arabia, said: "Innovation based on customer feedback is the key to growth. We believe in offering customers the latest in cutting-edge technology, and our association with LG Electronics ensures we offer the latest and most striking products."

Mr. Seo added: "According to recent studies, by 2005, over 100 million homes are expected to use networked digital appliances, and we believe a large proportion of these homes will be in the Middle East and Africa. The new LG refrigerator models combine digital technology and artificial intelligence with LG's renowned build quality and are styled with the modern home in mind."

Investment in research and development, together with detailed customer research, enables LG to set the pace for advanced digital appliance technology. The company is increasing research and development investments every year to reach US$3.38 billion in 2007 and more than US$5.1 billion in 2010, making a grand total of US$25.3 billion spent on R&D by 2010.