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7/27/2019 LG Electronics Inc
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LG Electronics Inc. (Korean: LG전자, KRX: 066570, LSE: LGLD) is a South
Korean multinational electronicscompany headquartered in Yeouido-dong, Seoul, and a member of
the LG chaebol . The company operates its business through five divisions: Mobile Communications,
Home Entertainment, Home Appliances, Air Conditioning & Energy Solutions, and Vehicle Components.
It is the world's second-largest television manufacturer (after Samsung Electronics),[2] and the
world's third-largest mobile phone maker by unit sales in the first quarter of 2014.[3] The symbol mark
stands for their resolve to establish a lasting relationship with, and to achieve the highest satisfaction for
LG customers. The letters "L" and "G" in a circle symbolize the world, future, youth, humanity, and
technology. Their philosophy is based on Humanity. The symbol mark consists of two elements: the LG
logo in LG Grey and the stylized image of a human face in the unique LG Red color. Red, the main color,
represents the friendliness, and also gives a strong impression of LG's commitment to deliver the best. [4]
Contents
[hide]
1 History
2 Operations
o 2.1 Home Entertainment Company
o 2.2 Mobile Communication Company
o 2.3 Home Appliances Company
o 2.4 Air Conditioning & Energy Solution Company
o 2.5 Vehicle Components Company
3 Products
4 Marketing
5 Sponsorships
6 Slogans
7 Environmental record
o 7.1 Proposed USA headquarters
8 Controversy
9 See also
10 References
11 External links
History[edit]
1985~1960's
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In 1958, LG Electronic was founded as GoldStar.[5]
The group was formed through the merger of two
Korean companies, Lak-Hui (pronounced "Lucky") and 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).
1970's~1990's
In 1994, GoldStar gained sponsorship from The 3DO Company to make the first 3DO Interactive
Multiplayer[citation needed ]. In 1995, GoldStar was renamed LG Electronics, and acquired the US electronics
company Zenith. LG Solar Energy is a subsidiary formed in 2007 to allow LG Chem to
supply polysilicon to LG Electronics for production of solar cells.
2000~Present
By 2005, LG was a Top 100 global brand, and in 2006, LG recorded a brand growth of 14%.[6]
Its display
manufacturing affiliate, LG Display, is now the world's largest plasma panel manufacturer.[7]
On December 5, 2012, the antitrust regulators of European Union fined LG Electronics and several other
major companies for fixing prices of TV cathode-ray tubesin two cartels lasting nearly a decade.[8] In
January 2009 LG was able to buy the domain name LG.com for low six figures USD. In 2008, LG took its
first dive into thesolar panel manufacturing pool, as it announced a preliminary deal to form a joint
venture with Conergy. Under the deal, set to be completed by year's end, LG would acquire a 75 percent
stake in Conergy's Frankfurt solar-panel plant.[9] LG has produced camcorders called ARTCAM and
DSLRs.[10]
Operations[edit]
LG Electronics has 5 business units and more than 110 operations worldwide, employing 86,000 people.
LG Electronics owns Zenith and controls 37.9 percent of LG Display.[11]
All information about LG Electonics' biz domains are from its official site. [12]
Home Entertainment Company[edit]
The HE Company produces and run business in TVs, A/V products, monitors, and personal computers. LG
HE Company launched OLED TVs, 4K ULTRA HD TVs and CINEMA 3D Smart TVs featuring the new webOS
platform this year. It is the world's second-largest television manufacturer (after Samsung
Electronics),[6]
Mobile Communication Company[edit]
The Mobile Communications Company provides smartphones - including its flagship premium G Series
models, F Series and L Series - and tablets as well as wearable devices. LG MC Company is the world's
fourth-largest mobile phone maker by unit sales in the third quarter of 2013.[7]
Home Appliances Company[edit]
The Home Appliances Company manufactures refrigerators, washing machines, dishwashers, cooking
appliances, vacuum cleaners, built-in appliances, and healthcare products.
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Air Conditioning & Energy Solution Company[edit]
The Air Conditioning & Energy Solution Company total heating, ventilation and air conditioning (HVAC)
and energy solutions provider. The company offers a comprehensive range of customized HVAC
products, including Residential Air Conditioning (RAC), System Air Conditioning (SAC), Air Quality and
Building Management Systems (BMS).
Vehicle Components Company[edit]
LG Electronics Vehicle Components Company focuses on commercializing eco-friendly automotive
components and core solutions, including in-car infotainment systems, electric compressors, as well as
engineering and consulting services in the areas of product development, production engineering and
component supply.
Products[edit]
LG Electronics' products include computers, televisions, mobile phones,and home appliances.
LG Electronics introduced their first Internet TV in 2007, originally branded as "NetCast Entertainment Access" devices. They later renamed the 2011 Internet TV's to “LG Smart TV ” when more interactive
television features were added, that enables the audience to receive information from the Internet
while at the same time watching conventional TV programming.[13][14] LG's Magic Remote uses Hillcrest
Labs' Freespace technology to allow users to change channels using gestures[15]and Dragon
NaturallySpeaking technology for voice recognition.[16]
An LG Direct Drive washing machine
An LG Optimus 3D mobile phone/smartphone
An LG laptop PC
An LG water filter
An LG Smart TV
Marketing[edit]
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In 2013, LG Electronics unveiled a new brand identity defined from the perspective of customers. The
new brand theme “It’s all Possible,” visualized with the LG Red Circle, is applied to all products and
brand campaigns of LG Electronics around the globe.
LG is concentrating global marketing resources on its diverse products, such as curved OLED TV, Ultra
HD TV, side-by-side refrigerator with the world’s largest capacity, high-end smartphone G Series, and
Multi V system air conditioner and Inverter V residential air conditioner with global top level energy
efficiency.[citation needed ]
Sponsorships[edit]
In August 2013, it was announced that LG Electronics would sponsor German Bundesliga club Bayer 04
Leverkusen for the next three years with an option to extend for one more year. LG sponsors
the International Cricket Council, the world governing body for cricket. It also sponsors ICC Awards.[17]
In the U.S., LG Electronics’ brand and product advertisements can be seen in Dodger Stadium of the Los
Angeles Dodgersand Great American Ball Park of the Cincinnati Reds. It also sponsors professional golf
players Ja-young Kim and Bomi Lee.
LG Electronics sponsored the English football club Weyside Rovers (Guildford) from 2000 until 2002 and
the English football club Fulham F.C until July 2010. LG sponsored the Brazilian football club Sao Paulo
FC from 2001 to 2009, during which time the club were the winners of the 2005 FIFA Club World
Championship. LG currently sponsor the Australian Football League team Fremantle Football Club, the
Costa Rican football club Liga Deportiva Alajuelense, the Australian National Rugby
League team Cronulla Sharks, and the Argentinian club Boca Juniors.
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 Extreme Sport 'FSO4 Freeze' festival
[18]
and in January 2009 LGbecame a Global Partner and Technology Partner of Formula One.
[19] LG is now an official supplier to
Virgin Racing, as well as Lotus Racing and engine manufacturer Cosworth.[20]
LG sponsors the LG Mobile
World Cup texting competition.[21]
LG also sponsors London Fashion Week and the LG Arena in
Birmingham.[22] They also have sponsored professional Starcraft 2, Incredible Miracle since 2011
LG is an Official Device Partner of the hit movie, The Wolverine
Slogans[edit]
'LG, Future's Technology' (June 1, 1997 – November 30, 1999)
'LG, Digitally Yours' (December 1, 1999 – June 30, 2004)
'LG, Life's Good' (July 1, 2004 – present, Used Before UEFA Euro 2004 Ended)
Environmental record[edit]
LG is listed in Greenpeace’s Guide to Greener Electronics where it ranked 13th (jointly with Toshiba) out
of 15 leading electronics makers in November 2011, scoring 2.8 out of 10. LG benefited from having a
penalty point lifted from the previous edition (October 2010). The company was penalised for failing to
meet its commitment to make products free of polyvinyl chloride (PVC) plastic and brominated flame
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retardants (BFRs) by the end of 2010. All of LG's mobile phones are now free from PVC and BFRs while
other products such as TVs and notebooks contain PVC/BFR free parts; LG aims to phase these
substances out from TVs monitors and PCs by 2012 and household appliances by 2014.[23]
In the Guide the company scored badly on the Energy criteria, being criticized for setting a weak target
for the reduction of greenhouse gas emissions and not making renewable energy part of its low carbon
strategy. LG scored most points in the Sustainable Operations category with the company providing
take-back for obsolete phones in 52 countries and being in the process of addressing the issue of conflict
minerals. However, the guide warned that LG risks incurring a penalty point in future editions as it was
still being listed as a client of Asia Pulp and Paper (APP) who have been linked to illegal logging and
deforestation in Indonesia.[23]
Choice magazine, in independent tests of popular LG fridge models in 2010, found the energy
consumption in two models was higher than claimed by LG. LG was aware of the problem and had
offered compensation to affected customers.[24] In 2004, LG made 4A-rated water efficiency claims for
numerous washing machines before they were certified. LG gave undertakings to the Australian
Competition and Consumer Commission (ACCC) 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 again required to offer consumers rebates to cover the extra energy
costs.[24]
Proposed USA headquarters[edit]
The Hudson Palisades and Palisades Interstate Park with GWB at left.A LG Electronics USA plan to build a
143 ft (44 m)highrise that would break the tree line is controversial.
LG Electronics USA has proposed to build a new headquarters in the borough of EnglewoodCliffs in Bergen County, New Jersey, including a 143 ft (44 m) tall building that would break the tree line
of Hudson Palisades, a US National Natural Landmark.[25][26][27] The company is planning to build
an environmentally friendlyhaving received a favorable legal decision subsequently being appealed
based upon building height issues.[28] The plan, while approved by the local government, has been met
with resistance from the segments of the general public as well as government officials in New Jersey
and New York.[29][30][31][32][33][34][35]
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Controversy[edit]
In November 2013, it was discovered that some of LG's smart TVs silently collect filenames from
attached USB storage devices and attempt to send them back to LG's own servers, although as of this
writing the web application does not exist and the purpose of this is unknown. The same television was
also found to send program viewing data to another LG-affiliated server which is in
operation.[36][37] Shortly after this blog entry went live, LG disabled playback on its site of the video
explaining how their viewer analytics work and closed the Brightcove account the video was hosted
on.[38][39] By December 2013 the page itself was removed from LG's website.