LG to strengthen corporate identity with Signature

Jo Seong-jin, left, president of LG Electronics’ home appliance and air solutions division, poses with company executives while introducing LG Signature’s high-end appliances at a launch event at the company’s R&D center in southern Seoul, Monday. / Courtesy of LG Electronics

By Lee Min-hyung

LG Electronics launched its premium brand LG Signature, Monday, in a move to strengthen its corporate identity amid tepid growth in the electronics industry and burgeoning rivalry from Chinese manufacturers.

LG Signature’s lineup includes a collection of high-end appliances ― including refrigerator, washer and television. After the local debut, the company will expand the product line in key markets this year ― including the United States and Europe.

“The new brand was launched to serve as a key driver developing our brand identity, rather than focusing on increasing sales figures,” said Jo Seong-jin, president of the company’s home appliance and air solutions division, during the launch event.

This came at a time when the company seeks fresh momentum to differentiate its products from the cheaper options of Chinese competitors.

“We will keep on adjusting our positioning and marketing strategies to successfully penetrate into the premium devices market,” he said. “LG also plans to expand product categories for the Signature, after the brand establishes itself in the market.”

The company also said it plans to launch the brand in the U.S. market in June.

This comes about three months after the company unveiled the brand during the Consumer Electronics Show (CES) in Las Vegas this January.

“We are expecting favorable responses especially in Korea and the U.S., seen from the favorable responses at this year’s CES,” said the company chief. “But it differs from product to product. For example, Signature washers are expected to gain strong support in the European market where washing machine demand runs high.”

He also explained the company’s business-to-business (B2B) marketing strategy in the premium appliance market.

“We are also going to launch the Signature Kitchen Suite, the B2B-version of LG Signature, in Korea no later than July,” he said.

The Signature Kitchen Suite is a package of high-end consumer electronics provided only for the built-in appliance market.

“For the B2B sector, we are adopting separate branding strategies to more efficiently compete with rivals such as Whirlpool,” he said. “That’s why we left LG out of the B2B brand.”

During the event, the company introduced specific features of each LG Signature product.

In particular, the 65-inch LG Signature OLED TV comes with a thickness of 2.57 millimeters. An OLED TV does not require a backlight, making it thinner and more energy efficient, the company said. The Signature OLED TV sells at 11 million won ($9,439) here.

The premium TV is also equipped with high-dynamic-range (HDR) technology, creating more compelling black and white images, the company said.

“Streaming service providers, including Netflix, are distributing hundreds of HDR programs each year,” said LG Electronics’ TV business chief Kwon Bong-seok.

The company said its Signature OLED TV will be the best option for generating perfect black colors and HDR content.