LG to expand appliance subscriptions to India to speed up leasing business

Quick Summary:

LG aims to expand its markets with more products as the subscriptions are attracting more customers, a company official said on Thursday.“The service has been well received as it reduces the initial burden of purchasing home appliances and allows customers to use products under expert management such as cleaning and replacement of consumables,” said the official.

The business, excluding care services such as repair, cleaning and maintenance, reported sales of 1.2 trillion won ($880.6 million) in the first nine months of the year, surpassing the revenue of 962.8 billion won for the entire 2023, according to its latest quarterly earnings report.

The South Korean tech giant has already launched the service, which allows customers to lease 300 products of 23 different kinds such as TVs and washing machines instead of purchasing, in various markets including Malaysia, Thailand and Taiwan, based on its success at home.

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Article Details

Category: Economy

Markets: South KoreaIndiaMalaysiaTaiwanThailand

Topics: Global Appliance Customers Subscription Sales Year Markets Business Service South Products

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-14 @ 19:45:48 (1 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 283 words

Reading Time: 2 minutes read

Sentences: 14 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 23583801

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