Best Buy First National Retailer in U.S. to Carry New LG Products; Refrigerators, Washers, Dryers and Microwaves To Hit Stores in May.Lifestyle Editors/Business Editors MINNEAPOLIS--(BUSINESS WIRE)--March 20, 2003 Best Buy Stores LP, a subsidiary of Minneapolis-based Best Buy Co., Inc. (NYSE NYSE See: New York Stock Exchange :BBY BBY Best Buy (stock symbol) BBY Before Battle of Yavin (Star Wars) BBY BeBeyond (Chinese online community) ), and LG Electronics are teaming up to offer consumers high quality and high-tech appliances. Beginning in May, Best Buy will be the first national retailer in the U.S. to carry LG refrigerators and laundry pairs, many of which will be exclusive products to Best Buy. An existing line of microwaves also will be added to the product category. The assortment will be available to customers nationwide in more than 500 Best Buy stores. "This is a great opportunity for our customers - more selection and more choice," said Mark Overgard senior vice president of Home Essentials for Best Buy. "We continue to diversify our product offerings and strive to provide customers with unique appliances at great prices." "We are truly excited about this new partnership between LG and Best Buy, bringing to life a new consumer demographic for our company," said Simon Kang, president, Home Appliance Division, LG Electronics U.S.A., Inc. "Best Buy recognizes our mutual strengths in providing high-performance, top design and technology-advanced products to consumers. The new partnership allows us to expand our customer base, while better serving the overall public." Currently, out of 104 Future Shop locations in Canada, 99 carry LG Electronics' major appliances (washer, dryers, refrigerators, freezers) and 102 carry some form of LG appliances (microwaves or vacuums). About LG Electronics' Digital Appliance Any apparatus controlled by a computer. It may refer to an actual household appliance (coffee maker, toaster, etc.) that is computerized, but often refers to a handheld device such as a pager, cellphone or PDA. See Internet appliance. Division LG Electronics' Digital Appliance Division has demonstrated tremendous global growth over the past few years with over $5.8 billion in sales in 2002. In the U.S. alone, LGE LGE LG Electronics LGE Local Government Employers (UK) LGE Laser Guided Energy LGE Louisville Gas & Electric LGE Loop or Ground-start, Exchange (Newbridge) has more than tripled its sales in three years, and the division holds a greater vision for the future. With such overwhelming success, LGE believes this is the right time to build the LG brand into a full-line appliance company. About LG Electronics Beginning with LG Chemicals in 1947 and LG Electronics in 1958, LG currently consists of 47 affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. in four business fields: Chemicals & Energy, Electronics and Telecommunications, Finance, and Service with 300 worldwide offices and subsidiaries and 130,000 employees. Since establishing its first overseas manufacturing subsidiary in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. in 1982, LG has pursued international expansion and today is a global company with regional headquarters in key locations around the world. LG is headquartered in Seoul, Korea. LG Electronics is the largest company within the LG family, with revenues of $13 billion (US) and 64,000 employees working in 72 international subsidiaries. LG Electronics products are marketed in more than 180 countries. LG Electronics is comprised of four separate companies: Digital Display & Media Company, Digital Appliance Company, Mobile Handsets Company and Information & Communications Systems Company. The LG Electronics Digital Appliance Company (LGE DAC See D/A converter and discretionary access control. DAC - Digital to Analog Converter ) produces laundry products, refrigerators, microwave ovens, vacuum cleaners and air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. systems. About Best Buy Stores LP Best Buy Stores LP, a subsidiary of Minneapolis-based Best Buy Co., Inc., is one of the nation's leading specialty retailers of technology and entertainment products and services. Best Buy was founded in St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , Minn. in 1966. Best Buy Stores reach an estimated 300 million consumers per year through more than 500 retail stores in 48 states and online at BestBuy.com. For more information about Best Buy, visit the virtual pressroom at http://onlinepressroom.net/bestbuy. About Best Buy Co., Inc. Minneapolis-based Best Buy Co., Inc. (NYSE:BBY) is one of North America's leading specialty retailers of consumer electronics, personal computers, entertainment software and appliances. The Company operates retail stores and commercial web sites under the names: Best Buy (BestBuy.com), Future Shop (FutureShop.ca), Geek Squad The Geek Squad is a subsidiary of the Best Buy Company and is based in Richfield, Minnesota [1]. Originally founded in 1994 by Robert Stephens, it offers various computer-related services and accessories for residential and commercial clients. (GeekSquad.com), Magnolia Hi-Fi (MagnoliaHiFi.com), Media Play (MediaPlay.com), Sam Goody Sam Goody is a music and entertainment retailer in the United States and formerly in the United Kingdom. It is owned and operated by Musicland, which itself is owned by former rival Trans World Entertainment which also runs Suncoast Motion Picture Company and, until January 2006, (SamGoody.com), and Suncoast (Suncoast.com). The Company reaches consumers through nearly 1,900 retail stores in the U.S., Canada, Puerto Rico and the U.S. Virgin Islands. |
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