Korean conglomerate Lucky Goldstar is set to embark on a massive branding spree, dropping the name Goldstar and describing itself as LG.
Kieran Sumner, who heads up LG Electronics, said that the company will spend large sums of money in national advertising campaigns to rebrand the company.
?The Goldstar name will disappear completely,? he said. ?Our handheld CE products will be branded as LG coinciding with the launch.?
Sumner said that Goldstar, as a brand, had not been successful and it was important not to associate the companies other wide range of interests with that. As well as manufacturing monitors CDs, DVD-Roms, CDs, Video CDs, palmtops, digital cameras, and video conferencing kit, the Korean parent also has interests in the petrochemical and ship-building industries. The LG branding exercise will extend across those areas too.
Sumner revealed that LG Electronics will manufacture 15-inch and 17-inch monitors at its Newport plant, beginning in October, and is likely to extend this to 19-inch and 21-inch units in the future. The UK plant will act as a European centre.
His unit of LG sells through distributors Ingram, Ideal, Micro P, Osmosis and Northamber in the UK. LG Electronics will also push more products through the retail channel, including Byte, DSG and Crown. Sumner said he was particularly keen for the channel to understand the changes.Alex Campbell, marketing manager at Osmosis, welcomed the move. He said that the word Goldstar had the wrong connotations for the company.
Meanwhile, LG Electronics said that sales of its 16-speed CD-Roms now outpaced 8-speed units by a factor of 5 to 1. DVD drives, he said, were unlikely to prove a significant revenue stream until next year.
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