LG Electronics plans sales blitz on US market for induction ranges

LG Electronics Inc. this year has launched an all-out sales offensive for induction ranges and cooktops in the US, the world's leading market for premium home appliances, to gain an advantage amid fears over the danger of gas stoves in America.

Industry sources on Wednesday said the company recently devised a strategy focusing on sales of induction ranges and cooktops in the US mainly to lead the popularization of induction technology and secure a market leadership position. Through March 1, LG Electronics is offering up to 20% off on select products that combine induction and oven functions.

LG Electronics is aggressively pushing its induction solutions because of spreading fears in the US over the danger of gas stoves, per a study published in an academic journal saying 13% of pediatric asthma is caused by use of a gas stove. Los Angeles and New York have enacted laws prohibiting the installation of gas stoves in new homes.

From this year, the home appliance industry is expected to see a surge in the US in the replacement of gas stoves with induction-using electric ones. The Wall Street Journal said American home appliance companies such as General Electric and Viking are also developing electric ranges using induction technology and expanding their lineup because of the gas range controversy.

The industry message is one of a “big opportunity” for LG Electronics, which had a strong lineup of high-performance induction electric ranges on the US market before the study came out. One of the company's products last month won first place on Consumer Reports' list of this year's best induction electric ranges.

LG Electronics plans to raise sales by emphasizing the power of induction electric range products and their eco-friendliness and safety. Sales of its ranges in America rose about 25% from 2020 to last year and are expected to see higher growth this year.

The company is also advancing its induction technology in South Korea. A leading example is the addition of a "recipe cook" function that allows easy cooking of steamed rice at home.

"The level of technology has advanced to the point where the induction process self-manages difficult fire control and cooking time settings," an LG Electronics source said. "We will grab a leadership position on the domestic and global markets for induction electric ranges with high-performing products."

Write to Ji-Eun Jeong at jeong@hankyung.com