LG Electronics has introduced two new refrigerators in Saudi Arabia, including its full-size, side-by-side refrigerator with a 13-in TFT LCD TV monitor and radio functions. The other model is a three-door, side-by-side product.
Currently, LG is considered the market leader in refrigerator sales in the Gulf Cooperation Council (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 percent. LG generated sales worth U.S. $30 million in the region last year, and is expecting sales revenue from its refrigerators to hit $40 million by the end of 2005.
"With the introduction of these new refrigerator products, LG will further consolidate its leadership position," said C.K Cho, general manager of LG Electronics Saudi Arabia. "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 also said that LG leads the GCC market in the larger capacity side-by-side refrigerator segment with 30 percent market share, and "innovative products like LG's new TV fridge demonstrate why."
Both refrigerators are available in a range of colors and a titanium finish. The new models are also treated with silver ions to protect against bacteria, fungi, and mold. The interiors feature large cooling compartments, and the side-by-side door configuration, supporting wide drawers and adjustable shelves. A segmented freezer drawer at the base of the refrigerators increases storage capacity. The TV fridge has a capacity of 27 cu ft, while its three-door, side-by-side twin is slightly smaller, with a gross capacity of 25 cu ft.
According to H.K Seo, managing director of United Yousef M. Naghi Co. Ltd, LG's distributor in Saudi Arabia, recent studies show that by 2005, more than 100 million homes are expected to use networked digital appliances.
"We believe a large proportion of these [networked] homes will be in the Middle East and Africa," he said. "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." (AME Info)
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