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LG Electronics

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LG Electronics
Company typePublic
IndustryMobile Communication, Digital Display, Digital Appliance and Digital Media
Founded1958
Headquarters Seoul, South Korea
Key people
Yong Nam, Vice Chairman & CEO
RevenueIncrease $68.8 billion USD
Number of employees
82,772 (29,948 in Korea/ 52,824 overseas) - as of 2006
ParentLG Group
WebsiteLG Electronics Worldwide

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LG Electronics (KRX: 066570, LSE: LGLD) is a South Korean multinational corporation and one of the world's largest electronics companies. It is a part of LG Group, operating in 80 countries.

Summary

LG Electronics developed iris recognition technology in 1999 and markets it for security, convenience, privacy enhancement and productivity purposes.　

By 2005, LG was considered a Top 100 global brand, and just a year later, LG recorded a brand growth of 14%. Now the world's largest plasma panel manufacturer, its joint venture, LG.Philips LCD, is a major maker of liquid-crystal displays for TVs.

In 2006, the company's mobile phone division, LG Mobile, marketed the LG Chocolate phone, changing the company's image of the maker of 'fat' 3G phones. It now focuses on the design and marketing of phones such as the LG Shine and LG Prada (KE850). As a result, the company was picked as 'The Design Team of the Year' by the Red Dot Design Award in 2006~2007 and is often called the 'New Apple' or 'New Sony' in the industry and online communities. They also sponsor English Premier League club, Fulham FC.

Billboards at Dundas Square in Toronto, Canada, featuring an LG advert.

Brand name history

The previous company name was Lucky-GoldStar, from which the abbreviation of LG was derived. The current "Life's Good" slogan is a backronym. Before the corporate name change to LG, household products were sold under the brand name of Lucky, while electronic products were sold under the brand name of GoldStar (Hangul:금성). The GoldStar brand is still perceived as a discount brand.

In September 2007, LG launched an online video contest called “Life’s Good When…” to generate awareness of their “life’s good” philosophy and encourage consumers to engage positively with the brand. The contest, which is hosted by YouTube, has generated over 600 entries and 700,000 video views by November. Winners will receive more than $30,000 worth of LG appliances and electronics.

Sponsorship

LG Electronics sponsored the English football club Leicester City and Weyside Rovers (Guildford) from 2000 until 2002. LG Electronics currently sponsors the English football club Fulham F.C, the Brazilian football club São Paulo, AEK from Greece, the International Cricket Council, Australian Football League club the Fremantle Football Club and National Rugby League club Cronulla Sharks.

Business areas and main products

Mobile communications

CDMA Handsets, GSM Handsets, 3G Handsets, Cellular Phones

Digital appliance

Air Conditioners, Refrigerators, Microwave Ovens, Washing Machines, Vacuum Cleaners, HomeNet, Compressors for Air Conditioners and Refrigerators

Digital display

Plasma TVs, LCD TVs, Micro Display Panel TVs, Monitors, PDP Modules, OLED Panels, USB Memory, Flat Panel Computer Monitors

Digital media

Home Theater Systems, DVD Recorders, Super Multi DVD Rewriters, CD±RW, Notebook PCs, Desktop PCs, PDAs, PDA Phones, MP3 Players, New Karaoke Systems, Car Infotainment

Company brands

See also

Template:IT giants

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