LG Electronics Canada Achieves $1-Billion in Annual Sales
Company has both fastest growing revenue and brand awareness among major consumer electronics companies in Canada
Mississauga, April 21, 2008 – LG Electronics Canada today announced that the company achieved $1-billion in annual gross sales in 2007. The accomplishment, a first for LG Canada, represents growth of over 30% from just over $750 million in 2006.
At the same time, LG Canada also revealed that its brand awareness has leaped compared to its competition, nearly doubling in the past year. By the end of 2007, LG Canada’s unaided brand awareness among Canadian consumers was at 48%, up from 27% just 18 months earlier. This data is based on independent research conducted by Millward Brown, which found that LG Canada had the fastest growing brand awareness among major consumer electronics companies in Canada.
“LG Canada is a remarkably healthy company that is starting to fulfil its potential. Reaching $1-billion in sales in 2007 makes me proud of the entire company, but it is our growing brand awareness that should generate excitement for a healthy future,” said William Cho, President and CEO, LG Electronics Canada. “It is my goal to make LG Canada the number one consumer electronics company in Canada by 2010. And as Canadians continue to discover that life is good with LG we will continue to deliver products that find the perfect harmony of innovative technology and stylish design.”
In fact, Canadians are moving to LG products at a record pace. LG Canada grew market share in all of its product categories, which includes cell phones, TVs, and appliances, by double digits in 2007.
“The growth we’re experiencing at LG Canada is unparalleled to anything I’ve seen in my 20 years of marketing in Canada,” said Andrew Barrett, Vice President, Marketing, LG Electronics Canada. “To make a significant impact we revamped the brand positioning and then made a major investment to build the brand. In doing this, we have taken risks not typically associated with our industry that have paid off including the creation of a golf hole last September in downtown Montreal during the President’s Cup tournament and cutting-edge lingerie fashion shows that attracted 8,000 people at Whistler. At LG, we believe Life’s Good when you think big.”
For more information on LG Electronics Canada, please visit www.lg.ca.
About LG Electronics, Inc.
The LG brand was established in 1995. The company is a global force in electronics, information and communications products, with more than 82,000 employees working in 77 countries around the world, and annual total revenues of more than US $35-billion (non-consolidated). LG Canada has offices in Toronto and Vancouver. LG Canada is focused on delivering award-winning products known for blending style and technology. These innovative products include cell phones, flat screen TVs, laptop computers and digital appliances. For more information please visit www.lg.ca.
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