Global Strategy of Lg Electonics
Chapter 1
AN INTRODUCTION AND COMPANY BACKGROUND LOOK AT LG ELECTRONICS LTD
Consumer electronics are irresistible, there is nothing quite fascinating than to see someone use an electronic gadget for the first time. There is absolutely no question that consumer technology sparks imagination like nothing else. The Consumer-Electronics industry is the world of entertainment, communication and office products. Currently, the global consumer electronics industry is dominated by the South Korean, Japanese and American companies. One of these South Korean companies is LG Electronics Inc. Originally being established in 1958, LG Group is the merger of two Korean companies, Lucky and GoldStar, hence the acronym LG. Its current slogan, “Life’s Good” is the bacronym. LG Electronics is the flagship of LG Group, one of the world’s largest electronics conglomerate. The company is the world’s second largest manufacturer of television sets and third largest producer of mobile phones. Being its headquarters in Seoul, South Korea, LG currently employees 95,000 people worldwide with 75 subsidiary companies globally. The main area for production division lies in mobile communication, digital appliances, digital display and digital media.
In terms of distribution networks and worldwide sales, LG stands highest in the consumer electronics industry. Being a good control over the white goods market, LG has the highest market share in the home appliances. The company’s desire to create a happier, better life has always surrounded its history. It has unveiled many new products, applied new technology in the form of mobile devices and digital television in the 21st century and continues to reinforce its status as a global company.
A BRIEF LIGHT INTO CONSUMER ELECTRONIC INDUSTRY:
From the early 1900’s till late 1980’s and 90’s, consumer electronics, computers, and telecommunications have developed as separate industries. Then came the era of digitalization and it changed the rules of the
AN INTRODUCTION AND COMPANY BACKGROUND LOOK AT LG ELECTRONICS LTD
Consumer electronics are irresistible, there is nothing quite fascinating than to see someone use an electronic gadget for the first time. There is absolutely no question that consumer technology sparks imagination like nothing else. The Consumer-Electronics industry is the world of entertainment, communication and office products. Currently, the global consumer electronics industry is dominated by the South Korean, Japanese and American companies. One of these South Korean companies is LG Electronics Inc. Originally being established in 1958, LG Group is the merger of two Korean companies, Lucky and GoldStar, hence the acronym LG. Its current slogan, “Life’s Good” is the bacronym. LG Electronics is the flagship of LG Group, one of the world’s largest electronics conglomerate. The company is the world’s second largest manufacturer of television sets and third largest producer of mobile phones. Being its headquarters in Seoul, South Korea, LG currently employees 95,000 people worldwide with 75 subsidiary companies globally. The main area for production division lies in mobile communication, digital appliances, digital display and digital media.
In terms of distribution networks and worldwide sales, LG stands highest in the consumer electronics industry. Being a good control over the white goods market, LG has the highest market share in the home appliances. The company’s desire to create a happier, better life has always surrounded its history. It has unveiled many new products, applied new technology in the form of mobile devices and digital television in the 21st century and continues to reinforce its status as a global company.
A BRIEF LIGHT INTO CONSUMER ELECTRONIC INDUSTRY:
From the early 1900’s till late 1980’s and 90’s, consumer electronics, computers, and telecommunications have developed as separate industries. Then came the era of digitalization and it changed the rules of the
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