... The company was originally established in 1958 as Goldstar, producing radios, TVs, refrigerators, washing machines, and air conditioners. The L.G group was a merger of two Korean companies Lucky and Goldstar. Is the second largest producer of television and third largest producer of mobile phones. LG Electronics India Pvt. Ltd., a wholly owned subsidiary of LG Electronics, South Korea was established in January, 1997 after clearance from the Foreign Investment Promotion Board (FIPB). LG set up a state-of-the art manufacturing facility at Greater Noida, near Delhi, in 1998, with an investment of Rs 500 Crores In 2004, LGEIL also up its second Greenfield manufacturing unit in Pune, Maharashtra LG plans to set up Rs 500-cr unit in South L.G. GROUP L.G. ELECTRONICS L.G.CHEM L.G.TELECOM MOBILE COMMUNICATIONS INFORMATION AND ELECTRONIC MATERIALS CHEMICAL AND POLYMERS DIGITAL DISPLAY DIGITAL MEDIA LG SOLAR ENERGY DIGITAL APPLIANCES INDUSTRIAL MATERIALS ° o Demographic - Income -Occupation Geographic -Tier 1 cities - Tier 2 cities Psychographic -Life style -Personality Behavioural -Value -Benifit o Market leader in home appliances. Has got manufacturing unit in tax incentive . Wide range of products to serve all categories. Widest distribution network in the industry(47 barnches,10000 trade partners). Good after sales service offered. Samsung being its competitor...
Words: 1764 - Pages: 8
...Korean MNEs and International Business (주)LG전자 김이현 문다인 문희재 1 LG 전자 기업 분석 기본 배경 - 대한민국에 본사를 둔 전자 제품을 생산하는 다국적 기업 - LG그룹의 대표 계열사 - 대한민국 시장 점유율 2위의 대기업 연혁 1958년 : 금성사(Goldstar)란 이름으로 설립 1960년대 : 대한민국 최초로 선풍기, 냉장고, 흑백 텔레비전, 에어컨 생산 1978년 : 수출액 1000억을 돌파 1984년 : 수출액 1조원 돌파 1995년 : 금성사에서 ‘LG전자’로 상호 변경 2004년 : 세계 최초로 지상파 DMB폰 개발 글로벌 기업으로서 LG - 1982년 : 미국 헌츠빌에 첫 번째 LG생산기지 설립 - 이후 중남부와 북부 아메리카, 유럽으로 글로벌 타겟 확장 - 현재 83개의 해외 자회사와 39개의 해외지점 2 LG 전자의 경쟁력 SWOT 분석 Strength - 국내 최대 규모의 ESS 통합 시험 설비 구축 - 기업용 보안 플랫폼 기술력 증명 Weakness - 스마트폰에 이어 TV역시 판매 부진 - 등돌린 투자자 SWOT 분석 Opportunity - 국내 시장을 넘어 해외 시장에서의 폴더형 스마트폰 수요 상승 - ‘안드로이드 페이’의 세력 확장 - 롯데 사태로 인한 반사 이익 Threat - 글로벌 환율 약세와 위완화 절하로 인한 수출 약세 - 단통법으로 인한 시장 침체 Michael Porter의 산업구조분석 기존 기업 간의 경쟁 및 잠재적 진입자의 위협 3 해외 진출 현황 & 글로벌 전략 해외 진출 현황 및 글로벌 전략 복잡한 유통구조 및 정부 규제 까다롭고 합리적인 국민 성향 해외 진출 현황 및 글로벌 전략 기업슬로건 전략 프리미엄 제품군 런칭 • 소비자가 원하는 기업상 반영 • 세탁기, 냉장고, 청소기, 디스플레이, 에어컨 • 호주인들의 인생관 반영 마케팅전략 • 지상파 방송 프로그램 ‘핫하우스’ 후원 • 호주의 인기 스포츠인 럭비와 축구팀 후원 해외 진출 현황 및 글로벌 전략 국내 가전 시장 포화상태 유명 기업들의 해외 시장 점령 해외 진출 현황 및 글로벌 전략 발로 뛰는 홍보 • 축제 기간의 신제품 전 시회와 로드쇼 개최 제품의 차별화 • 인도인의 니즈 파악 철저한 현지화 • 시장 진출 초기부터 제 품 개발과 판매 등 전 과 정에 현지인 채용 해외 진출 현황 및 글로벌 전략 한국 브랜드에 익숙하지 않음 현지 브랜드의 입지 거셈 해외 진출 현황 및 글로벌 전략 제품의 차별화 서비스의 차별화 • 인터넷 가전 및 첨단 제 품의 프리미엄시장 공략 + 기존 제품의 편리성 • 고객감동 서비스에 주력 마케팅의 차별화 • ‘로열티 포인트 프로그 ...
Words: 382 - Pages: 2
...1.0 Introduction of LG Electronics Inc. LG Electronics Inc. is a South Korea multinational electronics company which is also known as the global leader and technology innovator in consumer electronics. The LG Company was a merger of two Korean companies, Lucky and Goldstar, from which the “LG” abbreviation was derived. (Mariush,2012) The company’s headquarter is located in Yeouido-dong, Seoul and the flagship subsidiary of the LG Group. LG has a global sales of KRW (Korean Won) 54.26 trillion which is equal to USD 49 billion in the year 2011. The company operates its business with four business units: mobile communication, air conditioning & energy solution, home entertainment and home appliance. (LG, 2012) It has 75 subsidiaries operates around the world that design and manufacture its products. LG is the world’s second largest flat screen television-set maker after Samsung Electronics Co. (Lee, 2012) Home Entertainment The LG Electronics which is also known as the top global players in home entertainment produces flat panel displays, audio players, video products, monitors, commercial displays and security systems for the consumers and also the commercial markets. LG is not only focusing on creating full-features devices but it is also emphasizing on following the technology boundaries to improve the products. Mobile Communication LG has committed to provide the best ever user experience to expand the next generation of communication by inventing new technologies...
Words: 3058 - Pages: 13
...Introduction LG is a South Korean company that manufactures mobile phones, as well as other devices such as televisions and home appliances. They also offer Appliances , computer product, solar, LG originally stood for "Lucky Goldstar", but is now promoted as meaning "Life's Good". And LG is the fourth largest mobile phone manufacturer in the world. LG Porter's Five Forces Analysis The Bargaining Power of Buyers The bargaining power of buyers is petty moderate. There aren't many companies have same quality of products as those of LG. They have really high technologically televisions, monitors, notebook PCs. It stand out among existing competitors. Everything from the slim and sleek, it make the products superior to the competing companies. The Bargaining Power of Suppliers LG 's bargaining power of suppliers is very low. The company forms information partnership to create cooperation among supply chain partners for mutual success. It enters into a cooperative relationship with its suppliers by becoming their shareholders. This allows LG to promote strategic relationships with equipment and parts suppliers, which enables a stable source of supply at competitive prices. The result is high-quality parts at a lower cost which is done through sharing product concepts with suppliers early in the product development cycle. Threat of Substitute Products or Services The threat of substitute products is low. Their main production is panel TV, Substitutes for LCD are LED...
Words: 783 - Pages: 4
...Brochure More information from http://www.researchandmarkets.com/reports/1874391/ LG Electronics Inc.: Company Profile and SWOT Analysis Description: Synopsis ICD Research's "LG Electronics Inc.: Company Profile and SWOT Analysis" contains in depth information and data about the company and its operations. The profile contains a company overview, business description, financial ratios, competitor benchmarking data, SWOT analysis, key facts, information on products and services, details of locations and subsidiaries, plus information on key news events affecting the company. Summary This SWOT analysis and company profile is a crucial resource for industry executives and anyone looking to gain a better understanding of the company's business. ICD Research's "LG Electronics Inc.: Company Profile and SWOT Analysis" report utilizes a wide range of primary and secondary sources, which are analyzed and presented in a consistent and easily accessible format. ICD Research strictly follows a standardized research methodology to ensure high levels of data quality and these characteristics guarantee a unique report. Scope - Examines and identifies key information and issues about LG Electronics Inc. for business intelligence requirements - Studies and presents the company's strengths, weaknesses, opportunities (growth potential) and threats (competition). Strategic and operational business information is objectively reported - Provides analysis on financial ratios...
Words: 1009 - Pages: 5
...LG’s Michael Ahn on Becoming a Global Player in the Consumer Electronics Market: Knowledge@Wharton ( http://knowledge.wharton.upenn.edu/article.cfm?articleid=2667) LG’s Michael Ahn on Becoming a Global Player in the Consumer Electronics Market Published : January 06, 2011 in Knowledge@Wharton In 2000, executives at South Korea-based LG Electronics set the goal of becoming a top-three player globally by the close of the decade. One year early, in 2009, the company achieved its goal. Meanwhile, revenue has jumped from $5.6 billion in 2004 to more than $13 billion in 2010. Michael Ahn guided the branding effort for LG Electronics North America before stepping down as regional president and CEO last year to become a senior adviser at LG Electronics USA. In a recent conversation with Knowledge@Wharton, Ahn -- who was visiting the University of Pennsylvania to make a speech as part of the Wharton Leadership Lecture series -- named patience, consumer-targeted marketing and achieving synergy among the firm's different divisions as the factors catapulting LG Electronics from a relatively obscure maker of commodity goods to a premium global brand. An edited version of the conversation appears below. This is a single/personal use copy of Knowledge@Wharton. For multiple copies, custom reprints, e-prints, posters or plaques, please contact PARS International: reprints@parsintl.com P. (212) 221-9595 x407. Knowledge@Wharton I would love to start by talking about the consumer electronics...
Words: 1692 - Pages: 7
...LG electronics is a part of LG corportation. LG electronics which is called GoldStar at that time was founded by KOO IN-HWOI who was founder of LG corporation in 1st Oct 1958 at KOREA. At that time, radios were attracting interests as embodiments of civilization, bringing news of the world to their listeners. Mr. Koo thought, ‘we could make a radio by ourselves likes TOSHIBA, NATIONAL.’ So, he founded GoldStar. And finally, at 15th Nov 1959 they made the first Korean radio which is including more than 60% of domestic components. It was beginning of both LG electronics history and Korean electronic industry’s history. LG electronics started expanding their business to overseas by exporting radios to U.S at 29. Nov. 1962. LG electronics Singapore. Started business as the international purchasing office(IPO) in Singapore in October, 1989 for the first time in the Korean industry history. LG Electronics was able to purchase parts from the Singapore manufactures at lower cost and supplied to the plants of USA ,Europe, and Korea. They have 5 main business domains, which is Home Entertainment, Mobile Communications, Home Appliances, Air Conditioning and Business Solutions. LG Electronics Singapore Pte. Ltd.’s mode of entry is a wholly owned subsidiary. a wholly owned subsidiary is a means of entering new markets in which a firm fully owns its subsidiary in foreign countries. Because LG corporation which is holding company located in Korea owns all of the LG Electronics Singapore...
Words: 1096 - Pages: 5
...LG Electronics’ is the intercontinental Company which has a range of industrialized Units and sources. The company focus the international market for his product .the political environment nothing but how the law and government taxation policy influence an organization .There is a lot of political interaction has integrated in this business and it has operated between the political and legal factors. This factor may increase the cost of factor some time it decrease the product cost. The LG electronics facing lots of problem while its production and exporting goods to the overseas. Economic Analysis: LG has a very big competitive market in world and it have constant development in their innovation in electronics equipment , secondary products, planned process of LG etc.. it have leads to sell goods to other countries . The LG contribute the world wide STOCK MARKET and money market also. The LG have well and strong economic source and it has capable of introduce some new technology to the electronic market. LG leads the electronics market with enormous technology and economic resource. The below the table shows the financial highlight of LG electronics. The sale of the company is constantly increase the last seven year it possible by the good economic status The LG has introduce the product with satisfy the customer needs as well as safer environment. The product wont harmful to the environment and people .The LG try to produce green environment that mean it reduce the emission...
Words: 925 - Pages: 4
...LG ELECTRONICS South Korean multinational corporation South Korea's second largest electronics maker and the world's third largest appliance maker Company has 75 subsidiaries worldwide Design a d manufacture te ev s o s, home appliances, and es g and a u actu e televisions, o e app a ces, a d telecommunications devices. LG Electronics owns Zenith Electronics and controls LG Displays, a joint venture with Philips Electronics By 2005, LG was a Top 100 global brand. In 2006, LG recorded a brand growth of 14% World s World’s largest plasma panel manufacturer In 2006, its net income was $226 million, on total revenues of $24.7 billion COMPANY – ITS SUBSIDIARIES • LG Display, is one of the largest manufacturer of liquid crystal displays p y • In 2006, the company's mobile phone division, LG Mobile, marketed the LG Chocolate TM phone, changing the company's i ' image of th maker of thi k 3G phones. f the k f thick h • Focuses on the design and marketing of phones such as the LG Shine and LG Prada (KE850 ( • The company was picked as 'The Design Team of the Year' by the Red Dot Design Award in 2006~2007 • Called the 'New Apple' or 'New Sony' in the industry and online communities • S Sponsor E li h Premier League club -Fulham FC. English P i L l b F lh LG ELECTRONICS - ORIGIN Established in 1958 as GoldStar, producing radios, TVs, g , g , refrigerators, washing machines, and air conditioners. Merger of two Korean companies, Lucky and GoldStar, from which the abbreviation of...
Words: 4438 - Pages: 18
...CASE OF LG GROUP: DEVELOPING TOMORROWS GLOBAL LEADERS There is no company which is resistant to environmental changes, especially business environment. As the year comes by, new inventions or innovation will absolutely give impact on every type of business in the world. However, the causes of the impact, in other words, the root of the changes in the environment is not merely coming from company external territory; in most cases the impacts (either negative or positive) can come from external territory and internal territory of the company. This written analysis focuses on the LG Group’s Chairman Koo who once stated and defined his vision for the LG group to develop and improve significantly and to be a leading company in its local market area (Korea) and the wider market scope, international market and increase its revenue significantly within 7 years period. This is known as “LEAP 2005”. Even though is not an easy task to do, he is much certain that the group can do that. He considers the past performance of the group and the major internal changes within the company will enable it to achieve what its chairman wants. The main key success, as the management agrees, lies on the future leaders of the group. There are several questions that arise as the result of the discussion between the management in relation with this key point, namely where and how to find these future leaders, what capabilities of competencies these leaders should possess how to develop these key competencies...
Words: 2139 - Pages: 9
...Lg Porter's Five Forces Analysis Introduction LG is a South Korean company that manufactures mobile phones, as well as other devices such as televisions and home appliances. They also offer Appliances , computer product, solar, LG originally stood for "Lucky Goldstar", but is now promoted as meaning "Life's Good". And LG is the fourth largest mobile phone manufacturer in the world. LG Porter's Five Forces Analysis The Bargaining Power of Buyers The bargaining power of buyers is petty moderate. There aren't many companies have same quality of products as those of LG. They have really high technologically televisions, monitors, notebook PCs. It stand out among existing competitors. Everything from the slim and sleek, it make the products superior to the competing companies. The Bargaining Power of Suppliers LG 's bargaining power of suppliers is very low. The company forms information partnership to create cooperation among supply chain partners for mutual success. It enters into a cooperative relationship with its suppliers by becoming their shareholders. This allows LG to promote strategic relationships with equipment and parts suppliers, which enables a stable source of supply at competitive prices. The result is high-quality parts at a lower cost which is done through sharing product concepts with suppliers early in the product development cycle. Threat of Substitute Products or Services The threat of substitute products is low. Their main production is panel...
Words: 314 - Pages: 2
...A PROJECT ON “BRAND LG” [pic] Presented By: Gurjit Singh – 3022 Heman Makwana – 3023 G. Kalaiarasan – 3025 Kalpana Patel – 3026 Acknowledgement We would like to thank Prof Sohan Mahanty for providing us with such an important and challenging opportunity of preparing a project report on Branding which has enabled us to learn a lot about the Branding strategies, LG’s product innovations and marketing tactics for the Indian market. It is a matter of great pleasure to express our sincere gratitude and thanksgiving to our Director – Dr. Bigyan Prakash Verma. Last but not the least, we extend our sincere thanks to all the people who helped us directly or indirectly in way of ideas and valuable thoughts for making this project, a grand reality. History of LG Brand: | LG's history dates back to 1947 when Lucky Chemical Industrial Company (LCIC), the first chemical company in South Korea, was | |established. In 1958, LCIC started Goldstar Company to manufacture consumer durables. Within a year of its inception, Goldstar manufactured| |South Koreas first radio, A 501. | |In the 1960s, it started exporting radios to the US and Hong Kong and manufactured Korea's first telephone, refrigerator and black & white | |television. With the consumer durables business picking-up, LCIC changed its name to Lucky Goldstar. ...
Words: 3388 - Pages: 14
...SECTION IV: RECOMMENDATIONS Decision Criteria MABE’s decision criteria for evaluating their current position as part of a joint venture in Russia includes: * The joint ventures’ ability to generate future sales growth and substantial operating margin * The impact of Russia’s changing external environment on the joint venture and MABE as a whole * Other global opportunities for growth in emerging markets, including China and India OPTION 1. Continue Operations in Russia with the JV Cons: * The JV may have not yielded the results the venture intended on achieving, but the potential for earning increased profit exists. They will have to work hard for it to produce, as it should. * Amount of expenses currently incurred by MABE can be cut significantly but not at the current operational plan. Pros: * The venture currently has a 4 percent market share in stove sales, and a 2 percent market share in refrigerators and washing machines in operations in Russia. * Sales were at $70 Million in 2011, which suggests an increase in consumption and spending in Russia since the economic downfall of 2008. * The narrowing of the JV’s product line should produce better results than their previous expectations of providing a broad line of products able to serve the Russian market. * Strengthened management team within the past four years * Being fused within Fagor’s portfolio * Being within a such a vast geographical market. OPTION 2. Implement...
Words: 874 - Pages: 4
...Slide 1: INTRODUCTION : INTRODUCTION The company was originally established in 1958 as Goldstar, producing radios, TVs, refrigerators, washing machines, and air conditioners. The L.G group was a merger of two Korean companies Lucky and Goldstar. Is the second largest producer of television and third largest producer of mobile phones. l.g. india : l.g. india LG Electronics India Pvt. Ltd., a wholly owned subsidiary of LG Electronics, South Korea was established in January, 1997 after clearance from the Foreign Investment Promotion Board (FIPB). LG set up a state-of-the art manufacturing facility at Greater Noida, near Delhi, in 1998, with an investment of Rs 500 Crores In 2004, LGEIL also up its second Greenfield manufacturing unit in Pune, Maharashtra LG plans to set up Rs 500-cr unit in South Buisiness divisions : Buisiness divisions Market segmentation : Market segmentation Demographic - Income -Occupation Geographic -Tier 1 cities - Tier 2 cities Psychographic -Life style -Personality Behavioural -Value -Benifit S.w.o.t. analysis : S.w.o.t. analysis Strengths:- Market leader in home appliances. Has got manufacturing unit in tax incentive . Wide range of products to serve all categories. Widest distribution network in the industry(47 barnches,10000 trade partners). Good after sales service offered. Annual production GRAPH : Annual production GRAPH ANNUAL PRODUCTION GRAPH : ANNUAL PRODUCTION GRAPH weaknessES. : weaknessES. Samsung being its competitor...
Words: 1730 - Pages: 7
...Global strategy of LG Electronics as a leading Korean company Tomikazu Hiraga Senior research Fellow NLI Research Institute Economic recovery in advanced countries including Japan is still sluggish, although corporate financial performance has been recovering gradually. And companies whose business activities in emerging countries experiencing an economic boom account for a larger proportion tend to show better financial performance. Leading Korean companies have a larger presence in the world market and attract considerable attention. I will focus on LG Electronics, Inc., a leading company ranking with Samsung Electronics Co., Ltd. in the world’s electrical and electronics industries, with the largest market share in home appliances markets in important emerging countries, such as India, Brazil, and Indonesia, and relatively advanced management methods including corporate governance, which are highly valued, and will discuss features or important points of its global management and personnel strategy in this article. (Reference: Exchange rates as of August 5, 2010 were as follows. The Japanese yen/Korean won foreign exchange rate was approximately ¥0.074 to the Korean won. The Japanese yen/Indian rupee rate was approximately ¥1.87 to the Indian rupee. ) Leading Korean zaibatsu—The LG group The Korean zaibatsu (chaebol), a unique large companies group, is very influential in Korea’s corporate sector. Top 28 companies by market capitalization other than public corporations account...
Words: 2404 - Pages: 10