Since 2002, Korean electronics giant LG Electronics struggled to launch its brand in the US market. Five years later, it became the top seller of refrigerators and washing machines, and has since been successfully maintaining its lead in the two home appliance categories with current respective market shares of about 24 per cent. LG achieved annual revenue growth of 20 per cent in the Americas, rising to more than $13 billion from $5.6 billion under the leadership of Michael Ahn, a former president and CEO of LGE Americas. Ahn, who’s currently a senior adviser to the company, tells INSEAD Knowledge in an interview that it took a long time for LGE to gain public acceptance of its products as premium products. Even securing national distributors was fraught with difficulties...
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