LG Electronics, a part of the LG Corporation, is a multinational electronics company headquartered in Seoul, South-Korea. South Korean businessman Koo In-Hwoi founded the company then known as Goldstar in 1958. The company changed their name to LG Electronics after a merger with Lucky Chemical in 1995. LG is considered one of the leading consumer electronics companies in the world —with around 52.555.76 billion U.S. dollars in global revenue as of 2020in 2019. South Korea, North America, Europe, and Asia make up the companies’ most important markets, with close to 85 percent of total revenue coming from these regions.
The company is currently comprised of several operating segments including; Home Appliance and Air Solution, Home Entertainment, Mobile Communications, Vehicle Component Solutions, Business Solutions, and LG Innotek Co. Limited and subsidiaries. LG’s Home Appliance & Air Solution segment alone generated over 18 billion U.S. dollars in revenue in 2019, making it LG’s largest business segment, followed by Home Entertainment, which brought in over 13 billion U.S. dollars in revenue in 2019. In that same year, LG Electronics also maintained its position as one of the largest manufacturers of LCD TVs. Smartphones are another an important part of LG Electronics’ product portfolio with the company selling 28.5 million units worldwide in 2019.
In the domestic market, LGs biggest competitor is Samsung Electronics, a similar Korean consumer electronics giant which focuses on many of the same products. Both companies have highly competitive product lines across a variety of appliances, such as refrigerators, washing machines, and air conditioners. The high level of competition that exists in their own domestic market ensures that both companies are prepared for the highly competitive international markets.
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In the following 6 chapters, you will quickly find the 27 most important statistics relating to "LG Electronics".