LG Electronics newest technological breakthrough sheds light
Seoul, Korea, June 13, 2005 – LG Electronics, a pioneer and leader in Home Appliance convergence, announced its plans to develop Plasma Lighting System (PLS), the next generation lighting system, as a new business venture. The company plans to achieve sales of US $1 billion by 2015. LG also plans to focus its business efforts on selling core PLS component modules while introducing four 'PLS' products.Seoul, Korea, June 13, 2005 – LG Electronics, a pioneer and leader in Home Appliance convergence, announced its plans to develop Plasma Lighting System (PLS), the next generation lighting system, as a new business venture. The company plans to achieve sales of US $1 billion by 2015. LG also plans to focus its business efforts on selling core PLS component modules while introducing four 'PLS' products.
"The PLS technology eliminates the need for mercury to produce light, so it is environment friendly," said Young-Ha Lee, CEO of the Digital Appliance Company at LG Electronics. "We believe PLS products will quickly replace streetlamps and industrial lightings and we plan to utilize the LG brand's global recognition and sales network to achieve sales of over US $1 billion by 2015," said Mr. Lee.
LG targets the high wattage market of 300-plus Watt lighting products. The market represents US $3.7 billion of the US $80 billion global lighting market and the figure is projected to grow to US $7 billion by 2010.
During the earlier stage of the new initiative, LG plans to install PLS products on recognizable buildings and to forge partnerships with other lighting equipment providers around the world. And LG hopes to develop the initiative as a core business for the company.
"We believe it is important to forge mutually beneficial relationships with lighting system manufacturers with industry expertise to successfully jumpstart our entry in the market and to produce various lighting products," said Young-Jin Bae, the Chief of the PLS division at LG Electronics. "We hope to eventually be able to produce PLS modules for our partners to manufacture completed lighting products."
LG has already agreed on partnership deals with 5 Korean manufacturers and is looking for similar partnerships overseas. The company invested over US $200 million to develop the technology since 1999. More than 1,000 PLS products have already been installed worldwide for test purposes.
Invented first by Thomas Edison, all light bulbs produce light energy through an electrode. However, the Plasma Lighting System eliminates the need for an electrode, instead uses microwaves to produce plasma energy, which emits light. Because a PLS lighting does not have an electrode, it is 20,000 hours long lived and is said to produce light that is closest to the natural sunlight.