LG Electronics unveiled its luxury product brand “LG Signature” on December 23. The brand is aimed at targeting the upper 5-percent consumers.
The LG Signature brand will feature an upgraded functionality and design and higher prices even compared to those of existing premium brands.
This move reflects LG Electronics’ strategy to place more focus on the premium market, in a situation where competition with Chinese up-and-coming rivals is getting fiercer and the size of the low-cost product market is dwindling.
LG Electronics plans to showcase a string of brand-new TVs, refrigerators, washing machines, and air purifiers under the LG Signature brand in the upcoming home electronics show CES which is scheduled to be held in Las Vegas on January 6.
LG Electronics has the experience of developing individual product brands such as Whisen for air-conditioners and PuriCare for air purifiers. Unlike these instances, however, LG Signature will become a brand which will cover the entire spectrum of LG’s home electronics product lineup, including TVs.
