LG Electronics Bets on Innovation, Energy and Power Savings to Grow Market Share in its Home Appliances Division

 Consumer electronics giant LG Electronics is looking at doubling its sales volumes in the Home Appliances division in the next year, thanks to a sustained innovation trajectory and heightened marketing efforts.

The global consumer electronics maker currently controls 35 per cent of the regional Home Appliances market.

The company will be betting on the ability of its appliances in helping consumers make huge savings on power and water in its efforts to maintain the market leadership. Some of the latest appliances can realize up to 70 per cent savings on electricity while the washing machines can save up to 60 per cent on water.

The company is already enjoying a good market run in the region especially on its Home Appliances such as refrigerators and washing machines.

 

Currently an estimated 70 per cent of refrigerators and washing machines in the east and central Africa market are LG products, a situation largely attributed to the company’s flexibility in meeting changing consumer demands.

 

Managing Director for East and Central Africa Mr Josep Kim said the company will continue spending a considerable amount on research, innovation and development to ensure that the company grows and maintains its market leadership both regionally and on the global front.

“A random check among Kenyan and regional households will reveal that about seven out of every 10 refrigerators and washing machines in use are our products. As a company, we take this as strong vote of confidence in our appliances and commit to continue with the innovation journey to meet and even surpass consumer expectations,” said Mr. Kim.

He was speaking at a media event hosted to take stock of the changing regional market trends in the home appliances portfolio. The event comes in the wake of heightened market competition which Mr. Kim is confident that LG Electronics will wither and continue with its market dominance.

 

“The amount of investments we commit to research and development is unmatched. The rising sales volumes are testimony that we are indeed on the pulse of the consumer needs. We will leverage on this going forward,” he said.

 

The company has also made substantial progress in patenting its products in the wake of rising cases of counterfeit goods in the region. Although the company’s Home Appliances category is not seriously affected by the menace, Mr. Kim said the LG Electronics will continue working closely with government anti-counterfeit agencies in concerted efforts to protect the market.

The latest LG refrigerators come with an in-built Low Voltage Stabilizer which guards against power fluctuations while the  Washing Machines exclusively have the  Auto Restart function  which picks from where is stops in case of power outage, this accounts for the huge savings in time and energy. The company’s Microwaves come with intelligent i-sensor function which Cooks and Grills to the consumer’s taste without supervision.

“The I-sensor actually enables the microwave to go off once the food is well done. Basically it’s pre-programmed with preset menus for different foods of the world,” said Angel Bisamaza, the Product Manager in the Home Appliances business unit.

 

According to Mr. Kim, one of the company’s major selling points is the availability of products for various market segments.

 

“This ensures that there is something priced for everyone. The performance however is what sets us from the rest of the competition,” he said.

The company also announced plans to engage in a vigorous consumer education to create awareness on maximizing utility of its various products. This will be done through existing avenues like the customer service centre situated along Ngong Road and Mobile Service Bus which goes round the country attending to customers in remote areas of the country.

Reprieve for Cancer Patients as Pharmaceutical Firm Drastically Slashes cost of Medication

Global pharmaceutical firm Pfizer International has announced an average 60 per cent drop in the cost of cancer medication in a fresh drive to combat escalating prevalence of the disease.

The price drop will apply to drugs manufactured by the company for treatment of cancer as well as pharmaceutical equipment such as machinery and other testing kits involved.

The company has also donated $200,000 through various non-governmental organizations towards fighting the scourge in Kenya.

 

The drastic drop in cost of medication is widely expected to translate into increased access to cancer treatment especially among middle and low income households.

While commenting on the development, Pfizer Country Manager for Nigeria and East Africa Region Dr. Enrico Liggeri said the company was also enhancing partnerships with various non-governmental organizations to ensure increased access to medication especially among developing countries.

In Kenya, the company is has partnered with AMPATH in a number of programmes towards this cause.

“Our commitment is to make cancer treatment more accessible. We are doing this through partnerships with various governments, non-governmental organizations and other health sector stakeholders,” said Enrico.

Kenya has in the recent times witnessed rising cases of cancer related deaths some involving high profile members of the society. The official attributed the rising cases of cancer to poor dietary habits especially those involving solid fats, smoking and lack of physical exercise.

He lauded the Kenyan government for its commitment in preventing cancer adding that this commitment must be matched with long term policy documentation on how the country plans to combat cancer going forward.

According to Prof. Othieno Abinya, an Oncologist and the Kenyatta National Hospital, access to cancer medication in the country is on a steady increase and the latest price drop by Pfizer will go a long way towards this.

 

“As a country, we do not have sufficient infrastructure to handle the high prevalence of the disease. However in the recent time, concerted efforts by the government and business entities like Pfizer have seen substantial ease of access,” said Dr. Abinya.

He advised that the government moves to decentralize cancer centres from Nairobi to the counties to increase access to medication.

Both Ministers handling health portfolios in Kenya, Prof. Anyang Nyong’o of Medical Services and Beth Mugo of Public Health are Cancer survivors, a situation Dr. Abinyo says could herald a lot of government goodwill in fighting the disease.

Both Dr. Liggeri and Dr. Abinyo advised Kenyans to go for cancer testing reiterating that early detection accounts to over 70 per cent of success in treatment.

“Most cancer cases especially those involving cervix, breast, skin and throat are treatable on early detection. It only becomes a challenge when one goes for treatment long after the disease has spread to unmanageable levels,” said Dr. Abinya.

CRB Africa Unveils New Name and Introduces New Analytic Scoring Model to Market

CRB Africa announced today that it will be rebranding to the name of  parent company, TransUnion. The credit reference bureau was recently acquired by Transunion, the global leader in credit and information management, which increased its collective African footprint to 12 countries on the continent. The official rebranding announcement also marked the introduction of the TransUnion Kenya Financial Sector Score, a new analytical scoring model for the financial sector, specifically developed for the Kenyan market.

The generic score provides a globally tested analytical tool that optimizes business customer acquisition and management practices.

Grant Phillips, CEO of TransUnion Africa Regions, remarked: “TransUnion is pleased to be opening a new and exciting chapter in Kenya. With operations in 32 countries around the world and 100 year-strong history in Africa, we are proud to introduce both the TransUnion brand and our new scoring model to Kenya.

“Scoring enables credit granters in emerging markets to make decisions based upon tested and proven predictive criteria such as affordability and payment behavior. It provides a truly objective view of the consumer and helps to eliminate the need for subjective or discriminatory information such as age, gender, marital status or even address. Through predictive scoring, the credit process is streamlined and credit risk for lending can be effectively managed – helping to create a positive economic impact for the region.”

“With more than 20 years’ experience in credit referencing and debt management in Africa, CRB Africa prides itself on our strong client relationships, high business ethics and our deep commitment to our people and the region, ,” said Michael Karanja, Chairman of CRBAfrica. “As part of TransUnion, we now have the global reputation, expertise, systems and suite of solutions to dramatically enhance the services we can offer the market.”