SEOUL, KOREA - LG Electronics held a new product exhibition InnoFest at Venice, Italy, on March 19. As many as 450 buyers from 21 European countries paid visits to the exhibition. This figure more than doubled the number recorded last year. A variety of items on display there, including curved ultra HD TVs, attracted acclaims from the participants.

 

Encouraged by the favorable responses it gained from the InnoFest in Europe, LG Electronics plans to hold another InnoFest event in Seoul next month, inviting a group of Asian buyers to Seoul.

LG Electronics, a flagship unit of LG Group, which has faced difficulty due to its late entry into the smartphone market, is showing signs of rebounding. The group’s other business units, including LG Display and LG Chem, are also gaining vigor gradually.

LG Electronics, for example, whose mobile business has slumped since 2009, is looking ways to make a turnaround. To establish stronger presence in the smartphone market, the company adopted a two-track strategy that focused on increasing its share in both premium and mid- and low-price segment.