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South Korean multinational electronics company

LG Electronics Inc.
Type Public

Traded every bit

KRX: 066570
LSE: LGLD
ISIN US50186Q2021
Industry Consumer electronics
Home appliances
Reckoner hardwares
Predecessor GoldStar (1958–2002)
Founded
  • October 1958; 63 years ago  (1958-10) (every bit GoldStar)
  • March 1995 (1995-03) (equally LG Electronics; re-incorporated in 2002)
Founder Koo In-hwoi (The original GoldStar)
Headquarters LG Twin Tower 128, Yeouido-dong, Yeongdeungpo District, Seoul, Republic of korea

Area served

Worldwide

Key people

Kwang-Mo Koo
(Chairman)
Jo Seong-Jin
(Vice Chairman and CEO)
Jung Do-Hyun
(President and CFO)
I. P. Park
(President and CTO)
Products See products listing
Revenue Increase KRW 74.72 trillion (2021)[1]

Net income

Increase KRW three.87 trillion (2021)[1]
Full avails Increase KRW 48.21 trillion (2020)[1]
Total equity Increase KRW 17.54 trillion (2020)[1]

Number of employees

75,000+ (2020)[2]
Parent LG Corporation
Subsidiaries Zenith Electronics
Website www.lg.com

LG Electronics Inc. (Korean: 엘지 전자 ; RR: Elji Jeonja ) is a South Korean multinational electronics visitor headquartered in Yeouido-dong, Seoul, South Korea. LG Electronics is a part of LG Grouping, the quaternary largest chaebol in South Korea, and often considered as the superlative of LG Group with the group's chemical and battery division LG Chem. It comprises four business units: home entertainment, mobile communications, home appliances & air solutions, and vehicle components. LG Electronics caused Zenith in 1995 and the largest shareholder of LG Display, world's largest brandish visitor by acquirement in 2020.[ citation needed ] LG Electronics is as well the world's second largest Tv set manufacturer behind Samsung Electronics. The company has 128 operations worldwide, employing 83,000 people.[3]

History [edit]

1958–1960s [edit]

In 1958, LG Electronics was founded as GoldStar (Hangul: 금성 ). It was established in the aftermath of the Korean State of war to provide the rebuilding nation with domestically-produced consumer electronics and habitation appliances. The start of the country'southward national broadcasting that created a booming electronics market and a shut relationship information technology chop-chop forged with Hitachi helped GoldStar to produce South korea'south first radios, TVs, refrigerators, washing machines and air conditioners.[4] GoldStar was ane of the LG groups with a brethren company, Lak-Hui (pronounced "Lucky") Chemical Industrial Corp. which is now LG Chem and LG Households. GoldStar merged with Lucky Chemical and LS Cablevision on 28 Feb 1995, changing the corporate proper name to Lucky-Goldstar and so finally to LG Electronics.

1970s–1990s [edit]

Goldstar first went public in 1970; by 1976, it was producing 1 million televisions annually[5]. In 1982, Goldstar opened its starting time overseas factory, which was based in Huntsville, Alabama.

In 1994, GoldStar officially adopted the LG Electronics brand and a new corporate logo. In 1995, LG Electronics acquired the US-based TV manufacturer Zenith and absorbed it 4 years afterwards. Also in that year, LG Electronics made the earth's first CDMA digital mobile handsets and supplied Ameritech and GTE in the US, the LGC-330W digital cellular telephone. The visitor was also awarded UL certification in the The states. In 1998, LG developed the earth's first 60-inch plasma TV and established a joint venture in 1999 with Philips – LG.Philips LCD – which now goes by the proper name LG Brandish. In 1999, LG Semiconductor merged with Hynix.[6]

2000s–present [edit]

In club to create a holding company, the former LG Electronics was split off in 2002, with the "new" LG Electronics being spun off and the "sometime" LG Electronics irresolute its proper noun to LG EI. Information technology was then merged with and into LG CI in 2003 (the legal successor of the former LG Chem), so the visitor that started as GoldStar does not currently exist.

LG Electronics plays a large role in the global consumer electronics industry; it was the second-largest LCD TV manufacturer worldwide as of 2013.[7] By 2005, LG was a Acme 100 global brand and recorded a make growth of xiv% in 2006.[8] As of 2009, its display manufacturing chapter, LG Brandish, was the world's largest LCD console manufacturer.[9] In 2010, LG Electronics entered the smartphone manufacture. LG Electronics has since connected to develop various electronic products, such equally releasing the globe's first 84-inch ultra-HD TV for retail sale.[10]

On five December 2012, the antitrust regulators of the European Wedlock fined LG Electronics and five other major companies (Samsung, Thomson since 2010 known equally Technicolor, Matsushita which today is Panasonic Corp, Philips and Toshiba) for fixing prices of TV cathode-ray tubes in two cartels lasting well-nigh a decade.[xi]

On 11 June 2015, LG Electronics institute itself in the midst of a human rights controversy when The Guardian published an article by Rosa Moreno, a former employee of an LG television assembly factory.[12]

At the end of 2016, LG Electronics merged its German branch (situated in Ratingen) and European headquarter (situated in London) together in Eschborn, a suburb of Frankfurt am Chief.[13]

In March 2017, LG Electronics was sued for its treatment of hardware failures with recent smartphones such every bit the LG G4.[14]

Koo Bon-joon, who was the CEO and the current vice chairman of LG Electronics,[15] was replaced by his nephew Koo Kwang-mo in July 2018 as CEO and vice chairman.[sixteen] The move came subsequently the succession of Koo Kwang-mo as the chairman of the parent company LG Corporation who succeeded his adoptive father and uncle Koo Bon-moo afterwards Bon-moo died of a brain tumor on 20 May 2018.[17]

LG announced in November 2018 that Hwang Jeong-hwan, who took the task as president of LG Mobile Communications in October 2017, will be replaced by Brian Kwon, who is head of LG's hugely profitable home entertainment business organisation, from 1 December 2018.[18] Also in 2018, LG decided to end smartphone production in Republic of korea to move production to Vietnam, in lodge to stay competitive.[19] LG said Vietnam provides an "abundant labor forcefulness" and that 750 workers at its South Korean handset factory would be relocated to its home appliance establish.

On v April 2021, LG announced its withdrawal from the phone manufacturing industry after continuous loss in the market. In 2020, LG faced a loss of v trillion won (Usa$iv.iv billion).[20] [21] [22] [23]

As of December 1, 2021, the current Chief Strategy Officer William Cho will have over for Bell-seok Kwon as the CEO of LG Electronics.[24]

COVID-19 response [edit]

On December 25, 2021, LG Electronics launched a video entrada showing some of the initiatives the company has taken during the COVID-xix pandemic to support India. The video shows how the company has handled the pandemic from the beginning and includes urgings of adept hygiene practices to include social distancing, mitt-washing, mask wearing, and using paw sanitizers.

In a strategy to cope with demand for contactless shopping during the covid-nineteen pandemic, LG Electronics has opened a number of unmanned stores that allow for customers to authenticate themselves at the principal entrance, check product data, and purchase products using a mobile telephone or QR code. The company currently operates nine unmanned stores and this volition increase to xxx by the terminate of June 2022. Currently these retail locations are just bachelor in South korea.[25]

Products [edit]

LG Electronics' products include televisions, habitation theater systems, refrigerators, washing machines, computer monitors, wearable devices, solar modules, smart appliances and, formerly, smartphones.

Televisions [edit]

The LG SL9000 was one of several new Borderless HDTV's advertised for release at IFA Berlin in 2009.[26] LG Electronics launched an OLED TV in 2013 and 65-inch and 77-inch sizes in 2014.[27] [28] LG Electronics introduced its first Internet Goggle box in 2007, originally branded equally "NetCast Entertainment Access" devices. They later renamed the 2011 Internet televisions to "LG Smart Television" when more interactive television features were added, that enable the audition to receive data from the Internet while watching conventional Tv set programming.

In November 2013, a blogger discovered that some of LG's smart TVs silently collect filenames from attached USB storage devices and program viewing data, and transmit the data to LG'south servers and LG-affiliated servers.[29] [30] Shortly later this weblog entry went live, LG disabled playback on its site of the video, explaining how its viewer analytics work, and airtight the Brightcove account the video was hosted on.

LG manufactures remote control models that employ Hillcrest Labs' Freespace engineering to allow users to change channels using gestures[31] and Dragon NaturallySpeaking technology for voice recognition.[32]

As of 2014, LG is using webOS with a ribbon interface with some of its smart TVs. LG reported that in the beginning eight months after release, information technology had sold over v million webOS TVs.[33]

In 2016, exclusively to India, Indian arm of Republic of korea's LG Electronics Inc started selling a Telly that would repel mosquitoes.[34] It uses ultrasonic waves that are silent to humans but cause mosquitoes to fly away.[34] It was released on 16 June 2016. The engineering was also used in air conditioners and washing machines.[34] The TV is aimed for lower-income consumers living in weather condition that would make them susceptible to mosquitoes.[34]

In 2018, it was reported that LG was planning to sell big-screen televisions that could be rolled up and retract automatically with the push button of a button come 2019.[35]

Mobile devices [edit]

In April 2021, LG officially confirmed that it volition shut downward its mobile sectionalization.[36] [37] Earlier, in that location had been rumours that LG considered selling its mobile partitioning with Vingroup and Volkswagen named as potential buyers.[38] [39]

Mobile phones [edit]

LG Electronics used to industry smartphones and tablet devices.[xl] Other than the G3, LG officially unveiled the curved smartphone, G Flex, on 27 October 2013. LG released it in South korea in November 2013 and later announced releases in Europe, the rest of Asia and North America.[41] [42] At Consumer Electronics Show in January 2014, LG announced a Usa release for the G2 across several major carriers.[43] In 2015, LG released LG G4 globally in late May through early June.[44] On 7 September 2016, LG unveiled the V20,[45] and the V30 was appear on 31 Baronial 2017. LG G6 was officially appear during MWC 2017 on 26 February 2017.[46] The G7 ThinQ model was appear at a 2 May 2018 media conference.[47]

In Apr 2021, after months of speculation, LG confirmed that the smartphone partitioning will be officially shut downwards in July 2021.[48] The decision to shut down LG Mobile came nigh from poor sales caused past stiff competition from rival Samsung and Chinese upkeep brands such as Oppo and Xiaomi. LG became the first major smartphone make to completely withdraw from the market.[49]

Tablet computers [edit]

In 2014, LG announced three new additions to the One thousand series of tablets, which have LG's Knock Code characteristic, allowing users to unlock devices with a series of taps. The tablets too feature Q Pair which allows tablets to sync up with a smartphone, with phone calls and text letters passed on to the tablet in real time.[50]

Smart watches [edit]

LG and Google appear the Android Vesture-based smartwatch, the LG Thou Lookout man, that was in June 2014.[51] In August 2014, the LG G Spotter R that has a circular face (similar to the Moto 360) was released.[52] The LG Sentinel Urbane that LG'south third Android Vesture-based smart watch has released in April 2015. This was the first device to support newer smartwatch features such as Wi-Fi, and new parts of Android Habiliment's software interface, like the ability to draw emoji to friends.[53]

Rolly keyboard [edit]

In 2015, LG announced a Bluetooth keyboard that folds up forth the iv rows of keys for portability. The Rolly keyboard is fabricated of solid plastic. 2 tiny plastic arms fold out from the end of the keyboard to support a tablet or smartphone and it can toggle betwixt two dissimilar Bluetooth-continued devices at a time. Battery life is an expected three months on a single AAA battery.[54]

Home appliances [edit]

LG Signature LSA fifty A air purifier

LG articles habitation appliances including refrigerators, washing machines, tumble dryers, vacuum cleaners, air conditioners and microwave ovens. In June 2014, LG Electronics announced the launch of its smart appliances with HomeChat messaging service in South Korea. HomeChat employs LINE, the mobile messenger app from Korean visitor 'Naver', to let homeowners communicate, control, monitor and share content with LG'southward smart appliances.[55] Users tin can transport uncomplicated letters, such as "first washing bicycle," in guild to command their washing machines.[55]

In December 2021, LG Electronics announced they were testing and ecologically friendly washing auto that uses liquid carbon dioxide equally a cleaner. The company will be conducting a two-yr test prove the safety with a goal of having commercial CO2 washers in shopping mall laundries. This new process creates no wastewater and will exhaust gas.[56]

Competitive position: innovation [edit]

In 2021, the World Intellectual Property Organisation (WIPO)'due south annual World Intellectual Property Indicators report ranked LG's number of patent applications published under the PCT Organisation as fourth in the world, with 2,759 patent applications being published during 2020.[57] This position is an impressive increment from their previous ranking every bit tenth in 2019 with 1,646 applications.[58] In the same 2021 report, LG's number of designs in industrial design registrations published nether the Hague Organisation was ranked equally 1st in the world, with 446 design registrations being published during that year,[57] retaining their previous 1st place ranking in 2019 for 449 design registrations existence published.[58]

Marketing and public relations [edit]

[edit]

LG Sports Limited, a subsidiary of LG Corporation, owns the Korean Baseball Organisation (KBO) LG Twins (LG 트윈스). Through an acquisition in 1990, the MBC Blue Dragons (who was one of the six original founding members of the KBO in 1982) became the LG Twins.[59] The team has won 2 Korean Series (1990 and 1994). LG attracts a large omnipresence of fans and to much of their enjoyment, took third place in the league.[threescore]

In August 2013, LG Electronics appear that it would sponsor German Bundesliga club Bayer 04 Leverkusen for the side by side three years with an option to extend for one more twelvemonth. LG sponsors the International Cricket Council, the globe governing body for cricket and likewise sponsors the ICC Awards.[61]

From 2009 to 2013, LG Electronics sponsored Formula Ane equally a Global Partner and Technology Partner.[62] LG was also an official supplier to Virgin Racing and Lotus Racing squad, plus engine manufacturer Cosworth from 2010 to 2012.[63] LG also sponsors London Way Week and the LG Arena in Birmingham.[64]

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 Farthermost Sport 'FSO4 Freeze' festival.[65]

The LG Electronics company in Australia dissolved its sponsorship with cricketer David Warner on 27 March 2018 and dropped him as the brand ambassador of the company over the ball tampering scandal during the tertiary Exam of their 2017–18 tempestuous serial confronting South Africa.[66] [67] Warner had an agreement with the company in 2014 and his contract had been planned for renewal.[68] [69]

Ecology record [edit]

Option mag, in independent tests of popular LG fridge models in 2010, found the free energy consumption in two models was college than claimed by LG. LG was aware of the problem and had offered bounty to affected customers.[70] In 2004, LG made 4A-rated water efficiency claims for numerous washing machines before they were certified. LG gave undertakings to the Australian Competition & Consumer Commission 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 once again required to offer consumers rebates to cover the actress energy costs.[70]

In March 2018, it was announced that one of LG steam clothing intendance arrangement earned the Asthma & Allergy Friendly Certification.[71] In May 2020, a deadly gas leak in LG chemic plant in Visakhapatnam killed 12 people. An investigation was set up up to expect upon the thing revealed many causes for the accident. Improper storage design, haphazard maintenance of the erstwhile storage tank, the temperature within the oldest of the three storage tanks holding styrene monomer, a chemical used in making polystyrene products, rose to more than than half dozen times the permitted level due to polymerization, which resulted in the ascension of heat due to the chemical reaction are the few causes. It was also suggested to movement the company to a less populated area.[72]

United States headquarters [edit]

Oct 2019 in Englewood Cliffs

LG Electronics USA had proposed to build a new headquarters in the borough of Englewood Cliffs in Bergen County, New Bailiwick of jersey, including a 143 ft (44 k) alpine building that would stand taller than the tree line of the Hudson Palisades, a US National Natural Landmark.[73] [74] [75] The company proposed to build an environmentally friendly facility in Englewood Cliffs, incidental to Bergen Canton's per-capita leading Korean American population, having received an initially favorable legal conclusion concerning building height bug.[76] The plan, while approved past the local regime, met with resistance from the segments of the full general public as well every bit regime officials in New Bailiwick of jersey and adjacent New York.[77] [78] [79] [80] [81] [82] [83] [84] The initial court conclusion upholding the local government approval was overturned by a New Bailiwick of jersey appellate court in 2015 and LG afterward submitted a revised, scaled-down, 64-human foot edifice for approving past the borough of Englewood Cliffs in 2016.[85] LG broke ground on the new United states$300 million Englewood Cliffs headquarters on 7 February 2017, to be completed in late 2019.[86]

Slogans [edit]

  • "We Put People First" (1997–1999)
  • "Digitally Yours" (1999–2004)
  • "A Amend Life with Digital" (2002–2004)
  • "Life's Good" (1999–present in Australia and 2004–present in the rest of the world)
  • "Innovation for a Better Life" (2016–present)

See also [edit]

  • LG Uplus
  • Tech companies in the New York metropolitan surface area

References [edit]

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External links [edit]

  • Official website
    • LG Electronics on Instagram
    • LG Electronics on Instagram
    • LG Electronics on Facebook
    • LG Electronics's channel on YouTube
  • LG India
  • LG Electronics Global Website
  • LG Electronics Air Solution Global Blog

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