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LG Electronics, Inc. history, profile and history video

 LG Electronics, Inc. engages in the manufacturing of display devices, home appliances, multimedia goods, electronic parts, and develops software. It operates through the following business area: Home Entertainment, Mobile Communications, Home Appliance, Air-Conditioning, Energy Solution and Independent business area. The Home Entertainment business area provides products such as televisions, monitors, personal computers for IT, Car Infotainment, and produces Chemical and Electronic Materials. The Mobile Communications business area offers products such as handsets and tablets. The Home Appliance business area provides products such as refrigerators, washing machines, cooking, cleaning and health care appliances. The Air Conditioning and Energy Solution business area manufactures products such as Light Emitting Diode (LED) lightings, residential and system air conditioners. The Independent business area provides products such as compressors, storage devices, PC, telematics and solar cells. The company was founded by In-Hwoi Koo on October 1, 1958 and is headquartered in Seoul, South Korea.

“LG Electronics History

1958–1960s

In 1958, LG Electronic was founded as GoldStar. 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 brandname of Lucky, while electronic products were sold under the brand name of GoldStar (Hangul:금성).LG Electronics produces Korea’s first radios, TVs, refrigerators, washing machines, and air conditioners.

1970s–1990s

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. In 1997, LG Electronics made world’s first CDMA digital mobile handsets and supplied to Ameritech and GTE in U.S. Achieves UL certification in U.S. In 1998, LG developed world’s first 60-inch plasma TV. In 1999, LG established LG Philips LCD with Philips.

2000–present

By 2005, LG was a Top 100 global brand, and in 2006, LG recorded a brand growth of 14%. Its display manufacturing affiliate, LG Display, is now the world’s largest plasma panel manufacturer. LG Solar Energy is a subsidiary formed in 2007 to allow LG Chem to supply polysilicon to LG Electronics for production of solar cells.

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 tubes in two cartels lasting nearly a decade. 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 the solar 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. LG has produced camcorders called ARTCAM and DSLRs.”

*Information from Forbes.com and Wikipedia.org

**Video published on YouTube by “LGBlogUK