[WCSA - ALMANAC EVENTS & ACHIEVEMENTS 2022] Highlights during 64 years of development of LG Electronics (1958)

08-04-2022

(wcsa.world) LG Electronics Inc is a South Korean multinational electronics company headquartered in Yeouido-dong, Seoul, South Korea. LG Electronics is a part of LG Group, the fourth largest chaebol in South Korea.

The company has 128 operations worldwide, employing 83,000 people. LG Electronics often considered as the pinnacle of LG Group with the group's chemical and battery division LG Chem. It comprises four business units: home entertainment, mobile communications, home appliances & air solutions, and vehicle components.

LG Electronics' products include televisions, home theater systems, refrigerators, washing machines, computer monitors, wearable devices, solar modules, smart appliances and, formerly, smartphones.

LG Electronics’ timeline

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.

In 1959, Goldstar immediately began developing a radio. Korea’s first homemade radio started rolling off the production line.

In 1970, Goldstar first went public

In 1976, it was producing 1 million televisions annually

In 1982, Goldstar opened its first overseas factory, which was based in Huntsville, Alabama

In 1983, both companies Lucky and GoldStar merged and formed Lucky-Goldstar

In 1995, GoldStar merged with Lucky Chemical and LS Cable, changing the corporate name to Lucky-Goldstar. The company was renamed LG in 1995. LG Electronics acquired the US-based TV manufacturer Zenith and absorbed it four years later.

In 1998, LG developed world’s first 60-inch plasma TV. LG Electronics developed a customized TV Sampoorna for the rural market. LG established LG Philips LCD with Philips

In 2005, LG was a Top 100 global brand

In 2007, LG Solar Energy was a subsidiary formed to allow LG Chem to supply polysilicon to LG Electronics for production of solar cells

In 2008, LG developed world's first LTE mobile modem chip

In 2009, LG became the second-largest LCD TV brand worldwide

In 2012 LG is the first in the world to market 84-inch ULTRA HD TV

In 2014, LG introduced world’s first 4K OLED TV and webOS smart TV

In 2018, LG decided to stop smartphone production in South Korea to move production to Vietnam, in order to stay competitive

According to Wikipedia; companieshistory; zippia


Brian (collect) - (World Creativity Science Academy)