LG Electronics Inc. is a South Korean multinational electronics company. It has its headquarter in Yeouldo-dong, South Korea. It is a part of a parent company known as LG Group which is a South Korean multinational conglomerate corporation and LG stands for Lucky-Goldstar. LG Group also has its headquarter in the LG twin towers in Yeouido-dong. LG group works in many segments like electronics, chemicals and telecom products and also has many divisions like LG Electronics, Zenith, LG Display, LG Uplus, LG Innotek and LG Chem. LG Group also operates in about 80 countries. LG employs about 82000 employees in worldwide. In 2014, LG had 55.91 billion USD worth of global sales. There are four business units of LG Electronics such as:- home appliance and air solution, and vehicle components, with station India, which is their main vendor for refrigeration and washing machine in Indian sub-continent. LG Electronics was founded as Goldstar in 1958. LG Electronics was started in the year 1995 but in 2002 it started reincorporated in 2002. It’s a public company. Cho Seong-jin is currently vice president and CFO of LG Electronics and Jung-Do-Hyun is its President and CEO. LG is the world’s second-largest television manufacturer.
History of LG
In 1958, LG Electronics was founded in 1958 as Goldstar. LG electronics had produced South Korean’s first radio, refrigerators, washing machines, air conditioners and Televisions.Goldstar merged with lucky Chemicals and Lg Cable on 28th February 1995. Which then changed their name to Lucky-Goldstar and then finally to LG Electronics. In 1978, LG Electronics earned about 100 million USD for the first time in history through exports. Globalisation has helped the company a lot. It also led the rapid growth of the company. The company started its first overseas production USA in the year 1982. USA Based TV Manufacturing company Zenith was acquired by LG electronics. LG was the world’s first company to make CDMA digital mobile phones. The company also developed World’s first 60-inch plasma TV in 1998, established a joint venture with Phillips in 1999 known as LG Display. In 2013, it was the second largest LCD television manufacturers. In2005, LG was in the top 100 global brand a and also had a growth of 14%. In 2009, it was the world’s largest brand to manufacture LCD panels. LG entered into smartphone segment in 2010. The company also released world’s first 84-inch ultra-HD television.
Products LG offers
LG produces and retails a wide variety of consumer electronic products such as Televisions, smartphones, refrigerators, air conditioners, smart appliances, washing machines, monitor displays, wearable devices such as smart bands and smartwatch, home theatre systems, headphones and earphones. LG offers a wide variety in their television segments, like LCD, LED, UHD, Smart TV’s. LG also offers its innovative television which helps repels away mosquitoes and they used this technology in their washing machines and air conditionals also. Purpose of this technology was for the low-income segment of people who were living in conditions where they are vulnerable to mosquitoes.
Competitors of LG
The main competitors of this mega brand are Samsung, Sony, Panasonic, whirlpool, Haire, Electrolux, Phillips, Toshiba, oppo, xiao mi, apple, dell, Huawei etc. these all companies are major players in respect to their consumer electronic segments like smartphones, TV’s, washing machines, refrigerators.
Stores Where you can get LG products
Various products offered by Major brand LG are available on both online and offline retail stores. LG has its own website www.lg.com/In where you can check all their products for various of your use and purposes. They are available on leading online E-commerce stores like Amazon.in, flipkart.com, snapdeal.com, etc. You can get your favorite handset or a smartphone or any electronics by LG by just sitting at your home.
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