The Business Year

Camilo Riveros

Country Manager, Sony

Jared Kim

Country Manager, LG Electronics

Global electronics brands find in Colombia an attractive market with a large appetite for cutting-edge technologies and products.

What has been the focus of the company in Colombia?

CAMILO RIVEROS Our electronic products are based on quality, service, and affordability. Those are the main focuses of our business in Colombia in particular. Currently, the products that provide the most growth in Colombia are headphones, speakers and cameras, which are closely related to the pandemic and the new era of home offices, online classes, and other online aspects of our lives. Consumer electronics market has been growing consistently in the past years not only due to the pandemic. For example, “Día sin IVA” could represent months of sales in just one day. As a premium brand, Sony products are vastly accepted by Colombians because we represent a way to fill their world with emotion through technology.

JARED KIM LG is developing technology not only for specific consumers but for all who want to have access to cutting-edge technologies that make their life easier. The purchasing power of the younger generation is increasing, and they are interested in buying online. LG and its commercial partners are working together to improve e-commerce capabilities to meet their expectations in terms of user experience, availability, product information, fast delivery, and so on. In terms of availability, LG is getting better due to a global negotiation with shipping companies during last quarter 2021 and Colombian consumers are being able to have better access to our products all across the country.

How is Sony important to the Colombian economy?

CR Regarding employment, during the pandemic we were able to maintain our headcount and starting from 2022 we hired more people in our direct and indirect headcounts. In the near future, we will continue to invest in the retail area in Colombia for the medium and long term. Colombia is on the same level as Chile, which is a benchmark for other industries. Colombia is part of the SIA group, which are the Caribbean, Central American, and Andean countries. Colombia is the strongest country within the bloc in terms of sales, headcount, and other metrics.

What is LG Electronics’ approach to innovation and its strategy to understand consumer needs?

JK LG Colombia has almost 1.000 promoters in the point of sales, they have direct communication with consumers who want to buy our product. This communication helps us understand what Colombian consumers are looking for from LG. Also, we run an important investment on customer surveys, studies and digital channels listening in order to better understand consumer behaviors and needs. All the information collected is shared with headquarters and is taken into consideration in product and services development to improve user experience.

What will be the focus of development for Sony in the mid and long term?

CR Our main objective is to understand Colombian consumers in order to offer what they really need at the right moment. Once that, our strategy for the mid and long term is to offer the “best in town” affordable programs and the best quality service to our products. In Colombia we will continue to grow and increase our presence in the market: through innovation (affordable programs) and the awareness that the basis of the business is the people.

What is LG focusing on in order to be a brand of the future and to continue innovating?

JK LG is positioned as the number one electronics company in Colombia and wants to continue to be an innovative company, with innovative technology, products, and ways to communicate with consumers. LG will continue to provide innovation to make Colombian consumers’ life easier, which is part of the purpose of LG Brand. Our headquarters in South Korea is continuously investing for Colombia in order to understand consumers’ behavior and find their insights to deliver the best of our brand according to their needs. LG has launched cutting-edge technology products and services such as WashTower, Interview, and new OLED TV, successfully, ThinQ based on IOT and AI and “LG a tu lado” preference service program, which demonstrate our leadership in this market.

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