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LG Electronics introduced its flagship washing machines for the second half of 2008 and announced its business strategies for achieving the top position globally in the category as well as total sales of US$7 billion by 2012. LG introduced the new products and its strategy at a launch event and press conference at the Lotte Hotel in Seoul, Korea.
"Our washing machine business has shown solid sales in spite of global economic hardship thanks to effective localization strategies and reliable products," said Young-Ha Lee, president and CEO of LG Digital Appliance Company. "Constant introduction of products based on consumer insights and progressive technology will allow us to become the global leader in washing machines."
LG says that its total washing machine shipments are expected to reach 10 million units in 2008, a 12% increase from last year. In front-loading washing machines, it said its accumulated sales volume from 1990 through 2007 has reached 10 million units.
In August, LG is launching a new front-loading washing machine in North America, featuring a 16.9-inch wide square-shaped door and a 4.5 cubic foot capacity.
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