World News

Industry news and insights from Europe and around the World

UK News

Latest news and developments in the United Kingdom

Products

Keep up-to-date with the latest new products and technology

Features

General articles, applications and industry analysis

LG looks for ac growth

26359944_sSouth Korea: LG Electronics says it plans to generate at least £2.8bn (KRW5 trillion) from air conditioning this year as it broadens its sales area.

While commercial sales remained stagnant, LG’s air-conditioner division, excluding components, reported £2.58bn (KRW4.6 trillion) in revenue last year, according to reports in the Korea Times.

“This year, we are aiming to grow revenue by double-digits,” Nho Hwan-yong, president of the company’s air-conditioning division, told reporters in Seoul today.

LG intends to offset worsening profitability in commercial sales by focusing more on export markets, including the Middle East, China and South America and broadening its business territories to China, Europe and the United States to achieve this year’s growth target.

 

Latest News

17th May 2025

MHI targets US data centre market

JAPAN: Mitsubishi Heavy Industries has established a new base in Dallas, Texas, for its data centre business.
17th May 2025

Parts Town named master distributor

USA: Parts Town has been named as the master distributor for genuine OEM replacement parts for The Whalen Company’s HVAC equipment across the United States.
16th May 2025

Carrier Transicold enhances cold chain training in Africa

USA/RWANDA: Carrier Transicold has delivered transport refrigeration units and connected cold chain solutions to support training courses and sustainable cold chain systems in East Africa.
16th May 2025

Daikin opens residential AC factory in Indonesia

INDONESIA: Production of residential air conditioners has commenced at Daikin's new $220m factory in Indonesia.
15th May 2025

Danfoss set to introduce new case controller

DENMARK: Danfoss is set to introduce a new high performance controller for plug-in and remote TXV refrigerated display cases. 
15th May 2025

MHI 1234yf chiller wins second award

JAPAN: Mitsubishi Heavy Industries’ R1234yf chiller has won its second major Japanese technology award.