LG Electronics Holds a 3G Phone Launching Ceremony with Hutchison
LG Electronics Holds a 3G Phone Launching Ceremony with HutchisonLG Electronics Holds a 3G Phone Launching Ceremony with Hutchison
- Celebrating the successful launching of 3G phones in the European market
- Delivery of 500,000 units in one month since the first shipment will supply 3 million units
by the end of this year
- Attending the ceremony were LGE CEO & Vice Chairman S.S. Kim,
Hutchison Whampoa Group Managing Director Canning Fok and other distinguished
executives from both companies.
- LGE will lead the 3G mobile phone market with its technological
prowess, and also by forming a strategic partnership with Hutchison
LG Electronics Inc. (CEO: S.S. Kim, 06657.KS) recently forged a record agreement to supply 3 million W-CDMA handsets to Hong Kong-based Hutchison Whampoa Limited. LGE has now set out to emerge as the true leader in the global 3G market.
LGE held an LG-Hutchison 3G Phone Launching Ceremony at the LG Gangnam Tower Amoris Hall on June 8, 2004 to celebrate both companies' successful launching of 3G phones. More than 150 people attended the event, including LGE CEO & Vice Chairman S. S. Kim, LGE Telecommunication Equipment & Handset Company President Mun Hwa. Park, and Hutchison Whampoa Group Managing Director Canning Fok, as well as other senior executives from both companies.
The event marked LGE's delivery of over 500,000 LG W-CDMA phones of 'U8110' model in one month since the first shipment, and its successful entry into the European 3G phone market. LGE is set to
supply the record volume of 3 million third-generation W-CDMA dual-mode handsets (model: LG-U8110 series) to Hutchison Whampoa by the end of this year. LGE is the first Korean company to enter the overseas 3G market.
The 'U8110' model is a GSM/GPRS-compatible, dual-mode W-CDMA camera phone. It is a European-style 3G terminal that presents state-of-the-art multimedia features, such as video telephony, VOD, MMS, etc.
Further to the supply of 3G phones to Hutchison, LGE is embracing the strategy of 'customer partnership leader' to closely meet the needs of European 3G services operators with its customized products. LGE will thus expand its presence in the 3G handset market that is expected to grow rapidly at over 50% annually.
Mr. Mun Hwa Park, President of LGE Telecommunication Equipment & Handset Company said, "This event has presented both companies a successful vision and provided an opportunity to re-affirm our partnership. By leveraging our technological know-how in the 3G business, we are actively pursuing to rank among the global top 3 by 2006."
Mr. Canning Fok, Group Managing Director of Hutchison Whampoa, said in his speech, "Since its launch in the UK and Italy, LG's new lightweight pocket-size 3G handset have been winning rave reviews, and is certainly helping 3 to draw even more consumers to enjoy the unique video mobile services, such as person-to-person video calling, high quality video streaming and fast access to the wide range of exciting and useful content in our mobile partner sites. Hence, we are confident that the LG video mobile phones will help to boost subscriber growth.
By combining Hutchison's excellent network, exciting content and applications, with LG's superior handset product, I am sure 3 will continue to be the leading provider for unrivalled 3G services for customers. "
About Hutchison 3G
Hutchison 3G (H3G) is the leading global player in the 3G arena, holding licenses in ten markets with total population coverage of approx. 175 million. These include Australia, Austria, Denmark, Hong Kong, Ireland, Israel, Italy, Norway, the UK and Sweden.
In just three years, H3G has built an entirely new network, achieving probably the world's fastest rollout of a radio network in the entire telecom industry. Marketed globally under the 3 brand, H3G is the first operator in the world to provide dual-mode 3G services. To date, 3 services has commenced in seven markets including Italy, the UK, Australia, Austria, Sweden, Denmark and Hong Kong, and announced over 1.7 million subscribers in May this year.
H3G is a division of the Hong Kong-based multinational conglomerate Hutchison Whampoa. (For more information, please visit www.three.com)
About LG Electronics, Inc.
LG Electronics, Inc. (06657.KS) was established in'58 as the pioneer in the Korean consumer electronics market. The company is a major global force in electronics and information and communications products with more than 64,000 employees working in 76 overseas subsidiaries and marketing units around the world. With annual total revenues of more than US $16.9 billion (non-consolidated), LG Electronics comprises three main business companies: Digital Display & Media, Digital Appliance, Telecommunication Equipment & Handset.
The LG Telecommunication Equipment & Handset Company provides total solutions ranging from wired and wireless handsets to telecommunication equipment. The company is a leader in the innovation and development of cutting-edge technologies in next-generation wireless telecommunications and is steadily expanding its global market share in 3G (WCDMA / cdma2000) wireless systems.