Ratio Magazine :: The Inside Track to East Africa’s Economies - EAC Regional: Press Releases: LG diversifies into Security Appliances

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EAC Regional: Press Releases: LG diversifies into Security Appliances

Thursday, 17 September 2009

Nairobi, 16 September 2009 --- Korean consumer electronics giant LG Electronics through its Business Solutions (BS) arm is set to diversify its products portfolio in the region to include security appliances. Towards this end, the firm is already sourcing for a local partner to distribute its recently launched state of the art security systems.

According to the company’s manager in charge of audio and video systems, Mr. Sunny Sharma, the company will be introducing the security systems among them closed circuit television cameras (CCTV) into the Kenyan market very soon. “We are in the process of establishing a local business partner who will be in charge of distributing these ultra modern products from Business Solutions,” said Mr. Sharma.

The giant Korean electronics manufacturer established the Business Solutions unit early this year to cater for a specific market niche for its cutting edge electronic products. Among other products from Business Solutions are state of the art PC monitors which are market leaders in the Middle East region and most of Africa.

According to LG management, Business Solutions was launched with the aim of diversifying the product portfolio and giving specific attention to specific products. Sharma said the company would use a two pronged approach to maintain and grow its market reach in the region. This will include creating untapped product portfolio and expanding the value chain from device provider to solution provider. “The former method has been tried countless times in the history of LG Electronics, which had started as a radio company then later expanded its product portfolio to most of consumer electronics field,” he said.

The company will be targeting Kenya as its footprint into the regional market where the sales of Business Solutions products is comparatively low to the LG products. “Considering the performance of other LG product categories that were launched a few years ago, I am sure of the great potential for Business Solution products,” added Mr. Sharma.

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