SEOUL: LG Electronics Inc, a South Korean multinational electronics company, is positive on Malaysian consumers acceptance on its recently launched artificial intelligence (AI) enabled appliances, thus significantly boosting sales in the next one to three years.
LG Electronics (M) Sdn Bhd managing director KT Kim said it is a long journey to get consumers to fully adopt AI enabled electronics and appliances - called LG ThinQ, but emphasised that the optimism is positive on prospects in Malaysia.
"It may not have a material impact this year as it is a long process for consumers to buy all of our AI-enabled appliances for their home. But this is just the beginning.
"But we are giving out a strong message to consumers that we are leading this kind of innovation, and I believe in that sense of marketing, we could become the leader in smart life innovator in this market one to three years,” he told reporters on the sidelines of LG Innofest 2018 here today.
LG will be launching its organic light-emitting diode (OLED) and Super ultra-high-definition (UHD) TVs in Malaysia next month, the first of LG ThinQ series.
The new TV products featured the company’s exclusive ThinQ AI technology and advanced α (Alpha) processor which will lead the way in solidifying LG’s position in the global market for premium TVs, with the market for OLED TVs forecast to see sales of 2.5 million units this year from 1.6 million in 2017.
Kim said TVs are LG’s product that are most popular in Malaysia currently.
Other ThinQ line ups include SKY10 soundbar home speakers, 24-inch high-tech dryer, TWINWash washing machine and InstaView Door-in-Door refrigerators.
Meanwhile, Kim said the group is looking to achieve another double digit growth in revenue this year, following the launch of new products this year.
After previous stops in Cape Town and Cannes, LG brought its annual InnoFest roadshow to Asia from April 23 to April 25, taking place at the new LG Science Park in Seoul, South Korea.
Over 250 representatives from LG, its distribution/retail partners and members of the media from across the region are taking part in this year’s event, themed An Invitation to the AI Home That Thinks of You.
This year, LG is showcasing a variety of AI-enabled appliances that are compatible with global platforms such as Amazon Alexa and Google Assistant which the VIP guests can experience for themselves in a natural home environment.
LG global marketing center vice president Han Chang-hee said LG InnoFest is the perfect opportunity to introduce the Group’s unique ThinQ AI-enabled products to partners in key regions.
“AI technology is fast becoming a part of our world but the realisation of how fast this revolution is coming is still unrealised by many consumers.
“InnoFest allows us to bring our partners - who are engaging local customers on a daily basis - into the fold,” he said.