CG Electronics, the authorised distributor of LG in Nepal, opened the LG Lifestyle Shoppe at Sitapaila, Kathmandu on January 23. The showroom is an exclusive outlet featuring a wide range of LG and CG products. With this, the number of LG brand shops in Kathmandu has reached five. The newly-opened showroom has innovative products ranging from home entertainment and home appliances, to air conditioning and energy solutions. Brain Park, managing director, LG Electronics Singapore and Nirvana Chaudhary, managing director, CG CorpGlobal, jointly inaugurated the showroom. New Business Age caught up with Park to know about LG, its market presence in Nepal and future plans. Excerpts:
How is the market of LG in Nepal?
We are growing every year. In 2017, the market of LG in Nepal surged by 20 percent compared to 2016. We achieved this growth because of the full support from Chaudhary Group (CG). There will be a tough competition in the consumer electronics market this year, and we can only compete by providing quality and innovative products to the customers. We expect the sales of LG in Nepal to grow by 10 percent this year despite the competition. Despite the fact that Nepal is a smaller market compared to other markets in the South Asian region, the sales of LG here is overwhelming because of the hard work of CG.
How is LG doing globally?
We are the number one brand globally in refrigerator, washing machine, air conditioners and television segments. There is a fierce competition in the global market. We are the leader in some parts of the world, whereas our competitors are giving us tough competition in other parts of the globe. We strive to be the world’s number one brand in every possible segment by providing quality products to our customers.
LG’s OLED UHD television sets have been causing a buzz in the global tech market for some time now. How do you see the prospects of these high-end TVs in Nepal?
The LG UHD TVs incorporate technologies that convert picture to UHD quality for better visual experience of the viewers. With the changing times, the television industry has already shifted to OLED TVs and UHD TVs. The demand for such TVs is gradually rising in Nepal too. If the cable service providers shift to UHD format from the current FHD channels, it will definitely make the market of UHD TVs bigger.
How has been the partnership of LG with CG?
The partnership is already 30 years old. Without the help of CG, it would have been very difficult for LG to grow in Nepal. Our number one position in the consumer electronics market would have been impossible without CG. We supply quality products to CG, and the after sales service provided by CG has been amazing. CG has maintained a healthy relationship with Nepali customers over the years as the authorized distributor of the LG brand. Both companies have benefited from the partnership and we look to strengthen it further in the future. Our partnership policy is also different from those of our competitors. We appoint only one distributor in each country and make sure that we grow together.
What makes the LG brand different from other brands?
The technologies we use in LG appliances are energy efficient. We are the first company to introduce the high energy efficient inverter technology for consumer electronics. This is the main reason why consumers choose the LG brand over other brands.
CG has been opening LG Lifestyle Shoppe in various parts of the capital for some time now. How have the outlets helped in expanding the brand presence of LG?
In 2017, the brand shops accounted for about 40 percent of the overall sales of LG products in Nepal. These exclusive LG showrooms include more premium products than the normal outlets. We are also planning to expand the presence of LG brand shops across all provinces of Nepal.