SEOUL, KOREA- “LG Electronics is expected to see its sales in Europe rise by 10-15 percent this year, although the European home electronics market may post a negative growth due to the recession,” said Cho Sung-Jin, president of home appliances at LG Electronics.
Cho held a press conference on September 7 at Europe’s largest home electronics fair IFA 2013 where he said that LG Electronics will go all-out to take a leading initiative in Europe which accounts for 25 percent of the world’s home electronics market, aimed at leapfrogging itself into the world’s No. 1 home electronics company by 2015.

The company now occupies the largest share in the washing machine markets of the Czech Republic, Greece, and France. In the category of overall home appliances, LG Electronics ranks No. 3 or 4 in Europe with a share of about 7 percent.

To achieve this goal, LG Electronics plans to adopt a two-track strategy approaching both premium and mid-range markets.