LG Electronics (Thailand) Co, the marketer of LG home-appliance products,aims to become the market leader of microwave ovens in the Thai market next year.
Hyun Woo Lee, the company's managing director, said LG currently ranked third in the 1-billion-baht microwave oven market in Thailand, with a market share of about 24% last year. It expects its market share to climb to 30% by the end of this year or early next year, positioning it as the segment leader.
But Mr Lee said the penetration rate per household of microwave ovens in Thailand is under 10% at present, compared more than 50% in many countries.
Market demand for microwave ovens is 430,000 units per year. The market is divided into three segments - microwave only, microwave and grill and a combination of microwave, grill and steam. Of the total, microwave-only ovens make up 89%.
Mr Lee said that the company had sold 500-600 units of LG SolarDom, a premium microwave line, and expects the number to double next year.
Yesterday, the company organised the LG Life Tastes Good Championship 2009,the second microwave-cooking contest.
Sales of LG's home appliance business in the first eight months of this year grew 14% on par with its earlier projection. It is on course to achieve 6 billion baht in sales by the end of this year including those of air-conditioners.
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