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LG Electronics Tops Global Microwave Oven Market
Feb 10, 2004
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LG Electronics Inc. reported that it was the leading manufacturer in the global microwave oven market in 2003, topping the list for the second year in a row.

Citing a market report by a Japanese research institute, LG Electronics said it sold 13.69 million microwave ovens last year, accounting for 23.3 percent of the world market.

"Since the first production of microwave ovens in 1981, we have advanced into the global market by establishing factories in foreign countries, such as Britain in 1989, China in 1995 and Brazil in 1996, and have raised customers' preference for our products by using results of market analyses and customer studies in manufacturing microwave ovens," LG Electronics said.

Continuous development of designs and cuisine satisfying each region's characteristics also helped the South Korean company maintain its international competitiveness in the market, it said. (Yonhap)

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