||This article appears to be written like an advertisement. (July 2014)|
|Traded as||KRX: 066570 LSE: LGLD|
|Founded||1958 (Gold Star)|
|Headquarters||Yeouido-dong, Seoul, South Korea|
|Key people||Bon-joon Koo
(Vice Chairman and CEO)
|Products||See products listing|
|Revenue||KRW 58.140 trillion (2013)|
|Net income||KRW 223 billion (2013)|
|Total assets||KRW 35.53 trillion (2013)|
|Total equity||KRW 12.69 trillion (2013)|
LG Electronics Inc. (Korean: LG전자, KRX: 066570, LSE: LGLD) is a South Korean multinational electronics company headquartered in Yeouido-dong, Seoul, and a member of the LG Group, employing 82,000 people working in more than 100 locations around the world. With 2013 global sales of USD 53.10 billion (KRW 58.14 trillion), the company operates its business through divisions: Mobile Communications, Home Entertainment, Home Appliances, Air Conditioning & Energy Solutions, and Vehicle Components. CEO of LG Electronics is Bon-joon Koo, who assumed the role of Vice Chairman of LG Electronics on October 1, 2010. LG Electronics is currently the world's second-largest television manufacturer, and the world's third-largest mobile phone maker by unit sales in the first quarter of 2014.
- 1 History
- 2 Operations
- 3 Products
- 4 Sponsorships
- 5 Slogans
- 6 Environmental record
- 7 Controversy
- 8 See also
- 9 References
- 10 External links
All information about LG Electonics' History are from its official website.
In 1958, LG Electronic was founded as GoldStar (Hangul:금성). It was established in the aftermath of the Korean War to provide the rebuilding nation with domestically-produced consumer electronic and home appliance products. LG Electronics produced South Korea's first radios, TVs, refrigerators, washing machines, and air conditioners. GoldStar was one of the LG group with a sister company, Lak-Hui (pronounced "Lucky")Chemical Industrial Corp. which is now LG Chem and LG Households.
In 1978, LG Electroncis achieved USD 100 Million in exports first in its history. For a rapid growth by globalization, the company established its first overseas production based in the US in 1982. In 1995, GoldStar was officially adopted the name LG Electronics and changed its corporate logo. LG Electronics acquired the US-based TV makerZenith. In 1997, LG Electronics made world's first CDMA digital mobile handsets and supplied to Ameritech and GTE in U.S. Achieves UL certification in U.S. In 1998, LG developed world's first 60-inch plasma TV. In 1999, LG Electronics established the joint venture with Philips, LG Phillips LCD, which is now called as LG Display.
LG Electronics takes a role as a global player in consumer electronics industry. LG launched LG Chocolate, which recorded an instant hit in 2005, took the lead in US drum washing market from 2007, and became the second-largest LCD TV brand worldwide since 2009. By 2005, LG was a Top 100 global brand, and in 2006, LG recorded a brand growth of 14%. Its display manufacturing affiliate, LG Display, is also currently the world's largest LCD panel manufacturer. In 2010, LG Electronics entered to the smartphone industry. After that, LG Electronics keeps to introducing various electronics products such as the world’s first 84-inch ULTRA HD TV, 55-inch OLED TV, smart appliances, and etc.
Home Entertainment Company
The HE Company produces and run business in TVs, A/V products, monitors, and personal computers. LG HE Company launched OLED TVs, 4K ULTRA HD TVs and CINEMA 3D Smart TVs featuring the new webOS platform this year. It is the world's second-largest television manufacturer (after Samsung Electronics),
Mobile Communication Company
The Mobile Communications Company provides smartphones – including its flagship premium G Series models, F Series and L Series – and tablets as well as wearable devices. LG MC Company is the world's Third-largest mobile phone maker by unit sales in the first quarter of 2014.
Home Appliances Company
Air Conditioning & Energy Solution Company
The Air Conditioning & Energy Solution Company total heating, ventilation and air conditioning (HVAC) and energy solutions provider. The company offers a range of customized HVAC products, including Residential Air Conditioning (RAC), System Air Conditioning (SAC), Air Quality and Building Management Systems (BMS).
Vehicle Components Company
LG Electronics Vehicle Components Company focuses on commercializing eco-friendly automotive components and core solutions, including in-car infotainment systems, electric compressors, as well as engineering and consulting services in the areas of product development, production engineering and component supply.
LG Electronics launched a 55-inch OLED TV in 2013 and 65-inch and 77-inch sizes in 2014. LG Electronics introduced their first Internet TV in 2007, originally branded as "NetCast Entertainment Access" devices. They later renamed the 2011 Internet TV's to “LG Smart TV” when more interactive television features were added, that enables the audience to receive information from the Internet while at the same time watching conventional TV programming. LG's Remote uses Hillcrest Labs' Freespace technology to allow users to change channels using gestures and Dragon NaturallySpeaking technology for voice recognition. This year, LG introduced webOS smart TV, following the company's acquisition of HP's webOS business in February 2013. More than 1 million of LG's WebOS-enabled smart TVs have been sold since the lineup debuted in March.
LG Electronics has G Series, F Series, L SeriesⅡas their smartphone line up. LG has released the G3 model recently. Other than the G3, LG officially unveiled the curved smartphone, G Flex, on October 27, 2013. LG has released it in South Korea in November 2013, and later announced releases in Europe, the rest of Asia, and North America. At Consumer Electronics Show in January 2014, LG announced an U.S. release for the G2 across several major carriers.
The LG G series is a line of Android devices produced by LG Electronics. In 2014, LG revealed three new additions to the G series of tablets, the G Pad 7.0, 8.0, and 10.1. The series itself was introduced with the G Pad 8.3. Each will include LG's Knock Code feature, which allows the user to unlock the device with a series of taps. A new version of Q Pair also will be on board, allowing the tablet to sync up with a smartphone and have phone calls and text messages passed on to it in real time.
LG Electronics sells home appliances globally such as Door-in Door refrigerators, washer and dryers, vacumm cleaners, robotic cleaners, and ovens.
In August 2013, it was announced that LG Electronics would sponsor German Bundesliga club Bayer 04 Leverkusen for the next three years with an option to extend for one more year. In the U.S., LG Electronics’ brand and product advertisements can be seen in Dodger Stadium of the Los Angeles Dodgers and Great American Ball Park of the Cincinnati Reds. LG sponsors the International Cricket Council, the world governing body for cricket, and also sponsors ICC Awards. LG also sponsors two Korean professional golf players Ja-young Kim and Bomi Lee.
From 2009 to 2013, LG Electronics sponsored Formula One for 5 years as a Global Partner and Technology Partner of Formula One. until 2013. LG was also an official supplier to Virgin Racing and Lotus Racing team, plus engine manufacturer Cosworth from 2010-2012.
LG Electronics sponsored the English football club Weyside Rovers (Guildford) from 2000 until 2002 and the English football club Fulham F.C until July 2010. LG sponsored the Brazilian football club Sao Paulo FC from 2001 to 2009, during which time the club were the winners of the 2005 FIFA Club World Championship. LG currently sponsor the Australian Football League team Fremantle Football Club, the Costa Rican football club Liga Deportiva Alajuelense, the Australian National Rugby League team Cronulla Sharks, and the Argentinian club Boca Juniors. LG also sponsors London Fashion Week and the LG Arena in Birmingham.
In addition, during the period 2001–2003 LG sponsored the snooker Grand Prix. During these years the tournament was known as the LG Cup. In 2008 LG became sponsors of the Extreme Sport 'FSO4 Freeze' festival. LG sponsored the LG Mobile World Cup texting competition.
- 'LG, Future's Technology' (June 1, 1997 – November 30, 1999)
- 'LG, Digitally Yours' (December 1, 1999 – June 30, 2004)
- 'LG, Life's Good' (July 1, 2004 – present)
LG is listed in Greenpeace’s Guide to Greener Electronics where it ranked 13th (jointly with Toshiba) out of 15 leading electronics makers in November 2011, scoring 2.8 out of 10. LG benefited from having a penalty point lifted from the previous edition (October 2010). The company was penalised for failing to meet its commitment to make products free of polyvinyl chloride (PVC) plastic and brominated flame retardants (BFRs) by the end of 2010. All of LG's mobile phones are now free from PVC and BFRs while other products such as TVs and notebooks contain PVC/BFR free parts; LG aims to phase these substances out from TVs monitors and PCs by 2012 and household appliances by 2014.
In the Guide the company scored badly on the Energy criteria, being criticized for setting a weak target for the reduction of greenhouse gas emissions and not making renewable energy part of its low carbon strategy. LG scored most points in the Sustainable Operations category with the company providing take-back for obsolete phones in 52 countries and being in the process of addressing the issue of conflict minerals. However, the guide warned that LG risks incurring a penalty point in future editions as it was still being listed as a client of Asia Pulp and Paper (APP) who have been linked to illegal logging and deforestation in Indonesia.
Choice magazine, in independent tests of popular LG fridge models in 2010, found the energy consumption in two models was higher than claimed by LG. LG was aware of the problem and had offered compensation to affected customers. In 2004, LG made 4A-rated water efficiency claims for numerous washing machines before they were certified. LG gave undertakings to the Australian Competition and Consumer Commission (ACCC) to provide appropriate corrective notices and upgrade and maintain its trade practices compliance program. In 2006, LG overstated energy efficiency on five of its air conditioner models and was again required to offer consumers rebates to cover the extra energy costs.
On December 5, 2012, the antitrust regulators of European Union fined LG Electronics and several other major companies for fixing prices of TV cathode-ray tubes in two cartels lasting nearly a decade.
In November 2013, it was discovered that some of LG's smart TVs silently collect filenames from attached USB storage devices and attempt to send them back to LG's own servers, although as of this writing the web application does not exist and the purpose of this is unknown. The same television was also found to send program viewing data to another LG-affiliated server which is in operation. Shortly after this blog entry went live, LG disabled playback on its site of the video explaining how their viewer analytics work and closed the Brightcove account the video was hosted on. By December 2013 the page itself was removed from LG's website.
Proposed USA headquarters
LG Electronics USA has proposed to build a new headquarters in the borough of Englewood Cliffs in Bergen County, New Jersey, including a 143 ft (44 m) tall building that would break the tree line of Hudson Palisades, a US National Natural Landmark. The company is planning to build an environmentally friendly having received a favorable legal decision subsequently being appealed based upon building height issues. The plan, while approved by the local government, has been met with resistance from the segments of the general public as well as government officials in New Jersey and New York.
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- LG Smart TV – Access the World of Entertainment using the LG Smart TV
- Engadget.com 26 August 2010. Tim Stevens. Hillcrest Labs brings LG's Magic Motion remote to life, cheekily points out that Sony uses it, too.
- Greek, Dinah (2012-01-24). "Dragon brings voice control to smart TVs and set-top boxes". Computeractive. Retrieved 2013-06-22.
- "LG WebOS-enabled smart TVs hit 1 million in sales". CNet. 2014-06-02.
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- "LG G Flex appears on the FCC with AT&T-friendly LTE". Engadget. Retrieved 9 March 2014.
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- "Commercial Partners of the International Cricket Council (ICC)". icc-cricket.yahoo.net. Retrieved 26 September 2009.
- "The Official Formula 1 Website". Formula1.com. 26 November 2008. Retrieved 10 June 2009.
- LG Extends Formula 1
- "London’s first ever snow and music festival strengthens LG’s corporate sponsorship portfolio". Prlog.org. Retrieved 10 June 2009.
- "FSO4 Freeze, Sponsored by LG, Snowboard and Music Festival". Londonfreeze.com. Retrieved 10 June 2009.
- Sang-hun, Choe (27 January 2010). "Rule of Thumbs: Koreans Reign in Texting World". Seoul: New York Times. Retrieved 10 February 2010.
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- "Philips, LG Electronics, 4 others fined 1.47 billion Euros for EU cartel". The Economic Times. 5 Dec 2012. Retrieved 5 December 2012.
- DoctorBeet's Blog: LG Smart TVs logging USB filenames and viewing info to LG servers. Doctorbeet.blogspot.fr (2013-11-18). Retrieved on 2013-12-09.
- Goodin, Dan. (2013-11-19) Smart TV from LG phones home with user’s viewing habits, USB file names. Ars Technica. Retrieved on 2013-12-09.
- Former N.J. governors ask LG to rethink plan for high-rise HQ along the Palisades. NJ.com (2013-06-07). Retrieved on 2013-12-09.
- LG supporters looking for Gov. Christie's help in fight over high-rise HQ on the Palisades. NJ.com. Retrieved on 2013-12-09.
- THE CLOISTERS AND PALISADES | World Monuments Fund. Wmf.org (2013-10-08). Retrieved on 2013-12-09.
- Alana Quartuccio (September 3, 2013). "Study Predicts Englewood Cliffs LG Project Will Bring Huge Revenue Boost". Englewood-EnglewoodCliffs Patch. Retrieved October 31, 2013.
- Sullivan, S. P. "Former N.J. governors ask LG to rethink plan for high-rise HQ along the Palisades" NJ.com (June 7, 2013)
- Sullivan, S. P. "LG supporters looking for Gov. Christie's help in fight over high-rise HQ on the Palisades" NJ.com (July 3, 2013)
- Ma, Myles. "Opponents protest as LG celebrates start of work on Englewood Cliffs headquarters" NJ.com (November 14, 2013)
- Byrne, Brendam T.; Kean, Thomas H.; Florio, James J.; and Whitman, Christine Todd "The Threat to the Palisades" (op-ed) New York Times (March 24, 2014)
- Associated Press "NJ conservation groups file briefs opposing LG's planned construction on Palisades" NJ.com (April 7, 2014)
- Ma, Myles. "Senate advances bill banning tall buildings along Palisades" NJ.com (June 7, 2014)
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