LG Company is a name that is one of the highest rated organizations that offer high quality electronic appliances. A multinational electronics firm based in Seoul in South Korea, the company
has about 119 subsidiaries across the world that caters to its customers. When it comes to its products, the organization is divided into four different units. These are Mobile Communications, Home Entertainment, Vehicle Components and Home Appliances & Air Solutions.
Founding Date: 1958
Company Name: LG Corporation
Industry: Consumer Electronics/Telecommunications
Country: Yeouido-dong, Seoul, South Korea
Company Website: www.lg.com
LG Company was founded in 1958 by Koon In-hwoi with the aim of contributing to the development of the country after the Korean War. Initially the company was named GoldStar and was instrumental in manufacturing the first radio, television, refrigerator and other home appliances. The company went on the manufacture many other products like detergents and soaps and marketed these under the name of Lucky. The company thus became Lucky-GoldStar.
In the year 1995, when Lucky-Goldstar merged with LS Cable, the company was rechristened as LG which was apt, given the abbreviation had the initials of both the companies and was also in sync with their caption “Life’s Good”.
Innovations by LG Company
LG has been a pioneer of sorts in developing some outstanding electronic equipment over the years. It launched the first ever CDMA mobile phone in the market which became an instant hit encouraging other electronic giants to follow suit.
LG is also known for having developed the first 60 inch plasma TV in 1998. In the year 2007, it launched the first Internet TV which the internet savvy generation fell for immediately. The television is available worldwide and is known as LG Smart TV.
LG Company manufactures and markets all kinds of consumer electronics, chemical products and telecom accessories. With its branches and manufacturing units spread across the globe, catering to the global audience is quite easy.
Its range of electronic products includes televisions, music systems, home theater units, washing machines, smartphones, CDMA phones, refrigerators, computer VDU and smart devices. Industrial textiles, cosmetics and rechargeable batteries are the important products manufactured by its chemical units.
Other than this, the company also produces polycarbonates, medicines and decorative materials. In the telecom field, it offers services like long and short distance calling, broadband internet services etc.
The LG Company
The LG group is a huge corporate house that employs 82000 employees who work in its various subsidiaries across the world. With the mass appeal that the company enjoys, its operations have been divided in an organized manner to ensure that all the functions are carried out smoothly.
The electronic unit of the company is divided into LG Electronics, LG Innotek, Lusem and LG Display. The telecom unit on the other hand is diversified as LG CNS, LG Uplus, SERVEONE and LG N-Sys. The chemical unit is also divided as LG MMA, LG Healthcare, LG Household, LG Life Sciences and LG Hausys.
With a global sale of 55.91 billion, LG Company continues to grow at a steady pace and is all set to become the world leaders in its field.