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Evolution and History of LG Electronics

LG Electronics: One of the most well known electronic companies
Evolution and History of LG Electronics

Founding and Early Years

  • In 1958, LG Electronics was founded as GoldStar (Korean: 금성). It emerged in the aftermath of the Korean War, with a mission to provide domestically produced consumer electronics and home appliances to help rebuild the nation.
  • The start of national broadcasting in South Korea created a booming electronics market, and GoldStar quickly forged a close relationship with Hitachi. This meant they would be able to make radios, televisions, and more. 

Merger and Transformation

  • GoldStar was one of the LG groups alongside a brethren company called Lak-Hui Chemical Industrial Corp. (pronounced “Lucky”). Lak-Hui later became LG Chem and LG Household & Health Care
  • In 1995, GoldStar merged with Lucky Chemical and GoldStar Cable, leading to a corporate name change to Lucky-Goldstar and eventually to LG Electronics.
  • In 2002, LG Electronics underwent further restructuring, creating a holding company. The “new” LG Electronics was spun off, while the “old” LG Electronics changed its name to LG EI.
  • In 2003 LG Electronics merged with LG CI(Legal successor of LG Chem) which would dissolve the original Goldstar entity. 

Business Units and Subsidiaries

  • LG Electronics is a part of LG Corporation, the fourth largest chaebol (conglomerate) in South Korea. It comprises four big business units:
    1. Home Entertainment: Known for its TVs, audio systems, and displays.
    2. Mobile Communications: Focused on smartphones and related technologies.
    3. Home Appliances & Air Solutions: Includes refrigerators, washing machines, air conditioners, and more.
    4. Vehicle Components: Engaged in automotive electronics and components.
  • LG Electronics acquired Zenith in 1995 and is the largest shareholder of LG Display, the world’s largest display company by revenue in 2020.
  • It is also the world’s second-largest television manufacturer, trailing only behind Samsung Electronics.
  • LG Electronics operates 128 locations and employs 83,000 people.

Continued Innovation

  • LG Electronics plays a significant role in the global consumer electronics industry.
  •  It was the second-largest LCD TV manufacturer worldwide as of 2013 

Remember, LG Electronics has come a long way from its humble beginnings, and its legacy continues to shape the world of technology and innovation!




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