SEOUL, March 28 (Korea Bizwire) – LG Electronics Inc. said Monday it will start sales of its high-end “LG Signature” home appliances series that covers products ranging from TVs to refrigerators, in its latest bid to beef up profitability.
The South Korean company said Signature is its first brand of extra-premium goods. The products, set to officially go on sale in South Korea by the end of this month, will gradually reach overseas markets.
LG said consumers of Signature products will receive special services from an exclusive team of experts who will take care of delivery, installation and warranty support.
The Signature products will include a new organic light-emitting diode TV that boasts a high-end stereo system jointly developed with the U.S.-based Harman Kardon.
The TVs will also adopt High Dynamic Range technology that allows screens to deliver vivid displays by optimizing brightness, boasting improved quality compared with previous Ultra HD TVs. The 65-inch version of the TV will come with a price tag of 11 million won (US$9,401).
The Signature refrigerator, priced at 8.5 million won, allows users to take a look inside through transparent glass by touching it twice, a feature that took a cue from “KnockOn” technology adopted on LG smartphones that allows users to unlock their device by tapping the screen.
Home appliances and entertainment segments sustained the firm’s profitability last year, rising as a hope amid the weak handset sales.
The home entertainment business posted an operating profit of 109.2 billion won in the fourth quarter, rising sharply from 2.1 billion won posted a year earlier on the back of the improved sales of high-end models.
The home appliances and air solution division posted an operating profit of 214.8 billion won in the October-December period of 2015, also doubling from 92.2 billion won posted a year earlier.’