LG Electronics wakes up the ancient soul of Louvre with breath-taking technologies
- Holds an artistic launching ceremony that match Louvre's masterpieces with- Holds an artistic launching ceremony that match Louvre's masterpieces with
cutting-edge technologies of the 21st century
- Introduces its new display products, its stunning 42" plasma TV and top-of-
the-line LCD TV
- Impresses the world with the ensemble of LG's stylish products and unique
exhibition art work
- Pave the way to the No.1 plasma TV market share by the end of this year and
the top 1 LCD TV seller by 2007 in Europe
- Aim to become the global No. 1 producer in PDP modules by 2005, plasma TV by
2006, and digital TV by 2007 .
Seoul, Korea Apr 19, 2005 - LG Electronics holds a pan-European launching ceremony on April 18th at two prestigious locations in Paris, the Louvre and the Lido, to introduce two ambitious new products, a 42" plasma TV (model name: 42PX4RV) and a premium LCD TV line (model name: LP 1 series).
With this ceremony, LG Electronics showcases the most tempting Plasma and LCD TV available in Europe, while solidifying its image as the world leader in Flat Panel Displays.
This event was planned to pave LG Electronics' way to the No.1 plasma TV market share in Europe by the end of this year and, furthermore, the No. 1 Plasma TV market share in the world by 2006.
The plasma TV to be unveiled in this ceremony is the 42PX4RV model, which boasts the highest picture quality in its tier with LG's innovative technologies, such as 10,000:1 contrast and 1,500cd brightness. The 42PX4RV also comes with the film filter, which eliminates glare and double images, and the new XD engine, which converts analog signals to HD grade picture quality.
The other product to be unveiled is the LP1 series, LG's most up-to-date premier LCD TV line. The series demonstrates the pinnacle of LG's TV technology with its huge size, superior picture quality, dynamic design and many other premium features. Furthermore, LP1 series already attracted the industry's attention by sweeping three world renowned awards such as the CES Innovations Award, iF Design Award and Reddot Design Award in 2005.
In addition to LG's innovative new display products, this launching ceremony has already gathered huge interests from the industry, even before the event, due to the artistic exhibit set, which fuses the magnificent antiquity of Louvre with modern art, the extreme blaze and glamour of the Lido cabaret.
LG Electronics surprised the world by bringing beautiful masterpieces back to life with the LG screens. Bruno Contensou, a well-known artist for his works including the Cartier Foundation, Guggenheim Museum in New York, Digital World Pavilion at Futuroscope and many more, let the most famous masterpiece of the Louvre come back to life in a form that no one has yet dared to use in exhibitions: video graphic effects. The animated video sequences brought Mona Lisa to the contemporary universe. As for the art work, Bruno quoted "the words such as quality, aesthetic, art, entertainment perfectly characterize the new category of LG's plasma and LCD TV. Moreover, these words are also the ones that completely incarnate the city of Paris. Therefore, I thought that the conjunction of Paris, Louvre, Lido and LG's display is coincidental and inevitable".
LG Electronics is expecting this launching event in Paris will spearhead LG Electronics' journey to becoming the global top display company. In 2005, through aggressive marketing based on swift product differentiation strategies, LG Electronics is expected to become the No.1 PDP maker with 15% market share in the European market, which will reach around 1.5 million in units. The growth rate of 2004 strongly supports this feasible goal.
To reach this goal, LG Electronics is planning to focus on the European market, one of its 3 major strongholds including North America and China, by enlarging the production lines, focusing on the development of premium brands and expanding strategic alliances with distribution channels. LG Electronics is expected to increase the production capacity of its Poland DTV factory from 300,000 per year to 600,000 units by 2005 in order to meet the increasing demands and strengthen the production mechanism.
So far, LG Electronics has made distinctive progress as a major display company with premium products such as plasma and LCD TVs based on its advanced technology and intuitive marketing strategy. Since 1999, LG Electronics has steadily grown into one of the biggest contenders in the market. Through continuous investments in R&D, LG Electronics' plasma TV improved from 4.3% market share in February 2004 to 15.5% in February 2005, making LG Electronics 1st in Europe.
LG Electronics is experiencing rapid growth in major countries, for example, the 3% market share in the United Kingdom in February 2004 has expanded to 15.4% in February 2005 making LG Electronics No.2 in the market, and the 4% market share in Germany increased to 15.7% (No.1). Also, LG Electronics achieved 1st place in Spain (20.9%), Italy (16.3%) and Portugal (33.4%), and 2nd place in the Netherlands (17.5%) and Greece (22.9%), respectively, in February 2005.
Such achievement owes to the tremendous popularity of the model 'RZ-42PX11', a newly introduced product that was selected Best Hit Model in the 4th quarter of 2004.
"Unveiling the state-of-the-art display product in Louvre, a historical place where numerous masterpieces are presented, is our strong expression of pride about LG products." said James Kim, President and CEO of LG Electronics European Headquarters. "This will be a historical momentum of securing No.1 position in the Flat Panel Display TV market in Europe."
Meanwhile, LG Electronics is currently transforming its plants in Poland, Mexico, and China to focus their production on premium products. Based on such effort, LG Electronics is planning to become global number 1 in PDP modules by 2005, plasma TVs by 2006, and Digital TVs by 2007.