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Company Name: LG Electronics

Description: LG Electronics is a multinational corporation based in Seoul, South Korea. The company is the second-largest manufacturer of consumer electronics in South Korea, and the third-largest home appliance manufacturer in the world. Furthermore, LG Electronics is also the world’s fourth largest mobile communications provider. In fact, the company has 75 worldwide subsidiaries which design and manufacture the aforementioned products.

The corporation is the flagship of the LG Group, which is one of the largest Korean business conglomerates. The Chief Executive Officer and Vice Chairman is Yong Nam, who was appointed in January 2007. Other members of the management board include Chief Technology Officer and President Woo Hyun Paik, and Chief Finance Officer and Executive Vice-President David Jung.

LG Electronics was founded in 1958 and was originally named Goldstar. The company initially produced home appliances such as air conditioners, radios, refrigerators, washing machines and televisions.

However, in 1995, Goldstar went into a merger with another Korean company called Lucky. The merger gave rise to the name “LG” – an abbreviation of Lucky and Goldstar.

Twelve years and many consumer electronics and home appliances later, LG Electronics collaborated with LG Chem to produce solar cells. The team-up led to the formation of LG Solar Energy, and this year (2008) LG is venturing into the manufacture of solar panels.

This year also saw the further expansion of the company with the acquisition of American company Zenith Electronics. Nevertheless, notwithstanding its ownership of Zenith Electronics, LG also controls LG Displays, which is the result of LG’s enterprise with Philips Electronics.

With the aforementioned acquisitions, mergers and collaborations, LG Electronics has significantly enhanced its product line. Indeed, its digital display product range includes flat-panel computer monitors, LCD (Liquid Crystal Display) TVs, micro-display panel TVs, monitors, OLED panels, PDP modules, plasma TVs, and USB memory devices.

Furthermore, the corporation’s digital media line includes car infotainment, CD+RW, desktop PCs, DVD recorders, home theater systems, Karaoke systems, MP3 players, notebook PCs, PDAs, and DVD rewriters.

Some of the other notable products of LG Electronics today are MP3 players, Cyon Mobile Phone, Dios Premium Home Appliances, the Flatron range monitors and Platon CRT TVs.

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