LG joins Lowe’s to tap U.S. home appliance market

Home appliance giant LG Electronics said yesterday it has signed an agreement with U.S. home appliance retailer Lowe’s as part of efforts to expand its reach into the world’s largest market.

Under the agreement, LG will supply its home appliance products, including refrigerators and washers, to Lowe’s nationwide chains and online store starting next year, according to LG Electronics.

“More U.S. consumers will be able to experience LG’s high-efficiency home appliance products,” said a company official.

LG has been moving to ink supply deals with major U.S. retail chains in a bid to boost its presence there. In 2005, the company signed an agreement with Home Depot, one of the world’s leading home improvement and construction product retailers. The company has also signed supply agreements with U.S. department stores and electronics retailers such as Sears and Best Buy.