LG Electronics, part of the LG Group corporation, is a multinational electronics company headquartered in Seoul, South-Korea. The company was founded in 1958 with the name GoldStar and renamed to LG Electronics after merging with Lucky Chemical in 1995. Considered one of the leading consumer electronics companies—with around 46 billion U.S. dollars in global revenue—LG electronics employs a total of 83,000 people working in over hundred local subsidiaries worldwide. South Korea, North America and Europe make up the companies’ most important markets, with almost two thirds of its revenue coming from these regions.
The company currently comprises four business segments: Home Entertainment, Mobile Communication, Home Appliance & Air Solution, and Vehicle Components. LG’s Home Entertainment segment alone generated around 14 billion U.S. dollars in revenue in 2016, making it LG’s largest business segment along with the Home Appliance & Air Solution segmnt, followed by its Mobile Communication segment. In that same year, LG Electronics also maintained its position as the second largest manufacturer of LCD TVs. Smartphones are also part of LG Electronics’ product portfolio as the company sold 55 million units worldwide in 2016, a share of 3 to 4 percent of the global smartphone market.
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