LG to Launch Internet-Accessed Appliances in Taiwan Dec 18, 2002

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South Korea's LG Electronics Inc plans to launch home appliances that can access the Internet as early as February 2003 in Taiwan, the company said. "We are introducing home networking products such as the Internet refrigerator, microwave, air-conditioner, and washing machine," Michael Ahn, executive vice-president of LG Electronics said at the event. "During the first stage of the launching process, we offered our Internet products in [South] Korea, the UK, U.S., Mexico, Australia, and Spain. I am very proud to say that it has been very successful."

Mr. Ahn did not release figures for the number of products sold in the first stage of the launch, but he did reveal that the resources to fund research in these new products had come from LG's success in digital appliance sales in recent years. For the past 5 years LG's digital appliance sales have shown an annual growth of over 20 percent, with an operating margin of 12 percent. LG launched its Net refrigerator in the U.S. in October. The second-generation model to be launched in Taiwan incorporates a camera so users can record and send video-mails.

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