LG Electronics has reported strong trading conditions as the market prepares for a further boost following this week’s interest rate drop.
LG Electronics marketing director, Gemma Lemieux told Appliance Retailer that the strong lead-in to 2025 was driven by promotional events in November and December.
“We saw positive market activity in November and December, with particularly strong interest across our consumer electronics product categories. This reflects consumer demand for innovative, premium technology even in the face of broader economic challenges.
“Black Friday was our biggest sales event for the year, driven by strategic promotions across our key product categories, including TVs and home appliances. This success showcases the strong consumer appetite for LG technology.
“While Black Friday was our peak sales period, the 2024 Christmas season delivered strong sales, matching and exceeding the results from previous years. This consistent performance reflects the ongoing demand for LG products that enrich consumers’ homes and create more enjoyable experiences, particularly during the festive season.”
Overall, Lemieux noted 2024 was a strong year for LG with continued growth in TV sales.
“We understand the impact of cost of living pressures on Australians and we remain committed to providing value and innovation across our entire product portfolio.
“Our TV range offers a model for every budget and need, with consistent features and innovative technology available at accessible price points. Similarly, from the laundry to the kitchen, our home appliances offer a diverse selection of innovative products designed to meet the unique needs of Australian homes, at accessible prices.”
In her Leaders Forum submission to Appliance Retailer published late last year, Lemieux commented further on the success of the business in 2024.
“We strive to inspire optimism in the next generation, designing products that empower individuals to find positivity and cherish everyday moments. As we evolve into a smart life aolution company, we put people at the centre of our design process so that our products enhance daily life, adding a bit of joy to the everyday.”
Looking at the key moments that shaped 2024, LG celebrated two major milestones – 10 years of the LG webOS Smart TV platform and the 30th anniversary of LG in Australia and New Zealand.
“With webOS now featured across 1.7 million smart TVs in Australia, our platform is always improving to meet changing customer needs. In response to customer feedback, we introduced our webOS Re:New program, offering access to webOS firmware upgrades for up to five years. Meanwhile, we reflected on 30 years of growth from humble beginnings in 1994 as ‘Lucky Gold Star’ with just 24 staff, to becoming a consumer electronics leader with a team of 300.”
Lemieux added that the biggest learning of 2024 was understanding that Australians are increasingly looking for technology that suits their individual needs and enhances their everyday lives.
“People no longer want one-size fits-all solutions when it comes to their technology; they’re looking for products that can be personalised to their routines, preferences and spaces.”
LG also recognises that AI is driving the consumer electronics industry and anticipates that this demand will continue to grow.
“At the heart of this is our concept of ‘Affectionate Intelligence’. Our approach to AI is that it can be caring, empathetic and attentive, adapting to individual needs in ways that feels intuitive and supportive. We remain dedicated to enhancing our ThinQ smart home ecosystem, where LG appliances and our empathetic AI work in union to deliver customised comfort, care and convenience.”
According to Lemieux, the biggest opportunities for growth in the current environment lie in aligning with values Australians increasingly prioritise.
“Expanding our CSR efforts presents a key growth opportunity. By making tangible contributions to important causes, we will inspire meaningful engagement with Australians, build stronger customer relationships, and create a legacy that means something for future generations.”