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Jan. 01, 2003
LG Electronics Aiming to be the First and the Best in China's Color Handset Market
LG Electronics Aiming to be the First and the Best in China¡?s Color Handset Market
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LG Electronics Aiming to be the First and the Best in China's Color Handset Market
- Held cdma2000 1x color handset launch in Beijing on October 14 with participation of Vice Chairman Yong-Ak Noh of LG Electronics (China) Co., Ltd. and local dealers
- LGE to deliver over 1 million CDMA handsets to China within the year including 500,000 handsets to be supplied to China Unicom
- To position as high-end handset brand with introduction of handset with high-quality LCD screen at the end of year
LG Electronics is stepping up its marketing drive in China – one of the top 3 strategic markets for the company for mobile handset business along with Korea and the U.S., - with introduction of the latest CDMA color handset.
On October 14, LGE hosted the official launch ceremony for its newest CDMA color handset (Model: CU-8080) with the participation of over 300 guests at the Changcheng Hotel in Beijing, China. Local dealers and guests from local information and communication related government departments joined Vice Chairman Yong-Ak Noh of LG Electronics (China) Co., Ltd, Research Fellow Jeong-Rhul Lee of LGE???s Information&Communications China Business Division and other LGE representatives in celebration of the launch of LGE's newest handset equipped with many new features and technology.
The launch of the color handset was based on the company's strategy to strengthen its dominant position in the Chinese handset market by leveraging growing demand for CDMA handsets resulting from explosive growth of CDMA subscribers since its service launch in April this year. LGE will also utilize high public awareness of the LG brand and the successful service/distribution networks LGE has established here to reach its goal.
The new cdma2000 1x color handset LGE is introducing to China (Model: CU-8080) supports 65,000 colors to allow users to enjoy various multimedia data including color moving video in clearer and sharper images. It also has horizontally designed external LED in 7 different colors. The product was created to appeal to the unique requirements and interests of the twenty- and thirty-somethings who are the trend setters in China.
At the launch ceremony, LGE also presented its vision for CDMA business and briefed participants on LGE???s competitive edge in handset technology including the 65,000 color handset to be introduced to China.
LGE's strength in technology and product quality that enabled the world's first commercialization of CDMA technology will serve as the base for LGE successfully targeting the market with the newest color handset. Our goal is to grow as the No. 1 in China's CDMA handset market, and we have every confidence that we will reach our destination, said Vice Chairman Yong-Ak Noh of LGE (China).
Early this year, LGE obtained approval from the Chinese government to establish Langchao LG Digital Mobile Communication Co., Ltd, a joint venture for CDMA handset manufacturing with annual production capacity of 2 million handsets, in the city of Yantai in Shandong province; and the plant is currently in operation. LGE also operates Langchao LG Digital Mobile Communication Technology R&D Center Co.,Ltd – R&D subsidiary established last year.
Moreover, to increase LG brand exposure in CDMA handset which LGE introduced to China in line with the launch of CDMA services here, LGE installed large LED outdoor advertisement signs around Wanfuxing street – the central shopping district of Beijing. It has also selected 6 major areas within Beijing International Airport for display of LG handsets with the latest design, attracting interest from local Chinese and foreigners coming through the bustling and busy airport.
China???s CDMA handset market is recording explosive growth with this year's size expected to reach around 7 million units. Such sharp growth will inevitably mean fierce competition among global handset makers to increase their share of the market.
LGE will also supply over 1 million CDMA handsets to China including the 500,000 handset supply agreement concluded with China Unicom late last month. LGE plans to build LG as the high-end handset brand leveraging on its cutting-edge product quality and differentiated design to solidify its position as a major local player here by 2005.
LGE aims to introduce strong handset product line up with strong product leadership in China. To this end, LGE plans to continue to introduce new handsets to China this year including new GSM/GPRS handsets, and new sophisticated and elegantly designed CDMA handset with organic EL screen and 40-sound rich ring tones to be on the market at the year's end.
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