Monthly Archives: October 2020

LG Electronics expected its best-ever third-quarter earnings,

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LG Electronics Inc. on Thursday expected its best-ever third-quarter earnings, as its home appliance and TV sales apparently got a boost from pent-up demand amid the pandemic-driven stay-at-home trend.

In its earnings guidance, the South Korean tech firm projected its operating profit at 959 billion won (US$831 million) for the July-September period, up 22.7 percent from a year earlier.

Its third-quarter operating income estimate beats the market consensus of 888.7 billion won in the data compiled by Yonhap Infomax, the financial arm of Yonhap News Agency, which surveyed 10 Korean brokerage houses in the past three weeks.

LG also expected its third-quarter sales to be 16.9 trillion won in the three-month period, up 7.8 percent from a year earlier. The figure is also above the market consensus of 16.4 trillion won.

Both sales and operating profit are the largest for any third quarter in its history.

LG did not break down performances of its respective business divisions, saying it will announce the detailed earnings later this month.

Analysts believe LG’s products highlighting health and hygiene features, such as air purifiers and steam dryers, led its home appliance sales amid the pandemic, while its TV sales also jumped due to the fast-growing stay-at-home economy and demand recovery in North America.

“As stay-at-home trends continue due to COVID-19, sales of its premium home appliances and TVs have been solid,” Lee Wang-jin, an analyst at eBest Investment & Securities, said.

“With reduced marketing costs, sales of 75-inch or larger TVs went very well.”

According to market researcher TrendForce, LG was the world’s second largest TV vendor in the third quarter after its TV shipments increased 6.7 percent on-year to 7.94 million units.

Compared with the second quarter, LG’s TV shipments soared 81.7 percent.

This photo provided by LG Electronics Inc. on Sept. 4, 2020, shows the company's OLED TV displayed at a store in Australia.

This photo provided by LG Electronics Inc. on Sept. 4, 2020, shows the company’s OLED TV displayed at a store in Australia.

LG’s struggling mobile business has been projected to narrow its operating losses in the third quarter with smartphone sales increasing.

The company expanded its budget smartphone lineup in major markets to overcome the long slump in the mobile business, which has been in the red since the second quarter of 2015.

“LG’s mobile business is expected to have reduced its operating loss with demand recovery in the United States and some benefits from the Huawei ban in the Latin American market,” Kim Rok-ho, an analyst at Hana Financial Investment, said.

LG’s vehicle component solutions business has been also tapped to post improved earnings in the third quarter as global automakers started to resume operations after lockdowns.

Shares in LG dived 2.91 percent to 93,300 won on the Seoul bourse, underperforming the broader KOSPI’s 0.21 percent increase despite its upbeat earnings guidance

HARVESTfresh ™ combined refrigerators by Beko .

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RCNA406E60LZXRN and RCNE560E61ZXN are in fact the innovative combined free-standing refrigerators (respectively 60 and 70 cm wide and the first 2 m and the second 192 cm high) proposed by the brand, expression of a snappy aesthetic and equipped with the best technologies for home storage.

In particular, the HARVESTfresh ™ technology , based on nature, imitates the solar day thus keeping vitamins A and C unchanged and for a long time: in fact, thanks to the presence of three efficient lights inside the vegetable bowl, the day-night cycle is followed. Through the three lights, which are activated according to the cycle of the day and turn off during the night (dark period), sunrise is imitated with blue, midday with green and sunset with red light, while the period darkness identifies the night. If the fridge door is opened during the dark period, one of the three lights will turn on, in order to allow greater visibility of the operation.

HARVESTfresh ™, after rigorous scientific tests conducted by independent laboratories and academic research, has received the INTERTEK certification, revealing the effectiveness of this solar cycle for the optimal preservation of vegetables, which thus keep intact the supply of vitamins .

The Beko combi refrigerators are also equipped with the Total No-Frost NeoFrost ™ Dual Cooling cooling system , a special technology that cools with two separate cooling systems, thus maintaining a high humidity level in the fridge and at the same time the dry freezer environment. , frozen and natural (no frost).

They are also characterized by the practical external Touch Display on the door, a device capable of displaying the temperatures set in the fresh food and freezer compartment, without having to open the door. In addition, versatility is at home in these combined units: thanks to the SmoothFit ™ flush-to-wall opening, the refrigerator can also be positioned near the walls or corners of the house, as the door remains conveniently open at 90 °.

Available in Dark Inox and Inox Look colors , the appliances are equipped with the ProSmart ™ Inverter compressor that allows you to cool faster, consume less and be four times quieter than normal refrigerator compressors. The interiors also ensure optimal space management and technologies to improve food storage, such as the freshness package which also includes the EverFresh + ® drawer in which temperature and humidity are controlled to reduce condensation and thus ensuring fresh fruit and vegetables up to 30 days. The compartment dedicated to meat, fish and dairy products is kept just above the freezing temperature to preserve their freshness.

The power of steam: the Gaggenau CombiVapore ovens

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A new generation of state-of-the-art appliances capable of revolutionizing the culinary habits of the private chef, while ensuring objects with an exclusive and elegant design: the CombiVapore ovens of the 400 and 200 series by Gaggenau .

A leading luxury brand in the production of professional household appliances, Gaggenau already introduced the steam oven in private kitchens 20 years ago , perfecting its creations year after year and allowing the use, in a single combination, of the of steam and hot air cooking, the convenience of automatic programs, precise temperature control and a state-of-the-art cleaning system, performances previously only possible in restaurant kitchens.

Since then, the Gaggenau CombiVapore ovens have made aesthetic and technological research their cardinal principles: the sculptural shapes and precious materials are combined with exceptional culinary performances in the ovens of the 200 and 400 series, made possible thanks to some important innovations, including the connection direct water and automatic cleaning system.

In fact, both lines include both models of combined steam ovens with tank, and with direct connection to the water system , capable of eliminating the need to load and unload the tank and thus offering high flexibility and ease of use, especially by mode. of preparation that require long times, such as cooking at low temperatures in sous-vide functionality, ensuring a constant supply of fresh water

Great attention is then given to maintenance, with the automatic cleaning system : by simply using a specially designed cartridge composed of bicarbonate and citric acid, maximum hygiene is ensured, while eliminating the need for manual oven cleaning.

For those looking for perfection in the execution of delicious recipes, Gaggenau introduces the temperature measurement probe in the two series of ovens , capable of detecting the internal temperature of the food with the utmost precision: it is in fact equipped with three sensors capable of continuously identify the remaining cooking time, guaranteeing professional results with every use.

In addition, to allow unlimited flexibility of use, the dimensions of the cavities of the CombiVapore ovens have been enlarged, reaching a capacity of 50 liters , so as to allow home chefs to prepare more dishes and in large quantities.

Demonstrating the constant commitment to creating aesthetically beautiful products, Gaggenau gives the 200 and 400 series a distinctive design: the full surface grill is elegantly hidden under the glass ceramic , thus guaranteeing the highest level of formal cleanliness and essentiality even inside the oven. enhanced by the presence of a striking LED lighting system that directs the light towards the back of the oven, making the dishes being cooked clearly visible and allowing greater control.

Finally, all Gaggenau steam combi ovens are equipped with Home Connect , which offers those who use them maximum freedom, thanks to the direct control of its functions via apps from smartphones and tablets.

Two decades of refinement and innovation have led us to the new 400 and 200 Series CombiVapore ovens. – declares Peter Goetz , CEO of Gaggenau – Our technological leadership has allowed us to create an appliance capable of offering perfect cooking results without limits and a minimal and modern aesthetic in the kitchen. We believe that having the ability to cook like a professional is a luxury that those who love being in the kitchen demand

Hisense Plans To Open Washing Machine Factory in Africa

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Hisense has made public its plans to open a washing machine manufacturing plant in South Africa by February 2021.

This will be the company’s second manufacturing plant in the continent, following the opening of a KES 2.2 Billion plant back in 2013 that is used to produce TVs and fridges. In 2019, Hisense added an additional production line that saw it start assembling smartphones in the Atlantis factory.

“Since launching washing machines in the country three years ago, Hisense has achieved a 12% market share in that segment,” the group said.

The new factory, which will also be in Atlantis, north of Cape Town in South Africa, will add an additional 200 jobs into the country’s economy. Hisense says that they currently employ more than 800 people and reach over 3000 people through their outreach programmes that train and uplift the wellbeing of people in communities around South Africa.

In 2019, Hisense managed to put out more than 530,000 TVs and 331,000 fridges from their factory in the country. “In 2019, one in four TVs or fridges sold in South Africa was a Hisense,” said the company.

Hisense has also made significant inroads in Africa, with products also being exported to 13 other African countries, including Kenya, South Africa, Namibia, Mozambique, Zimbabwe, Malawi, Zambia, Botswana and Lesotho.

Hisense has appointed actress Gong Li as its new global brand ambassador

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Hisense has appointed famous Chinese-born Singaporean actress Gong Li as its new global brand ambassador.

“The cooperation between Gong Li and Hisense, which has promoted Chinese brands to the world, brings out the best in each other,” the company said in a statement.

According to Hisense, the reason behind the appointment is that Gong Li’s spirit coincides with the brand’s focus and benefits its overseas marketing activitie