LG Electronics was established in 1958, having marched along the way of development for over 50 years. During the past years, LG Electronics has grown as the representative company in Korea's telecommunication industry, through its sustained innovation and development of new technology and new products. Meanwhile, it has established itself as a leading figure in the global telecommunication industry, through the perfect integration of smart technology and stylish design as well as its global production and marketing system.
As the top-tier international corporation world-wide in the fields of digital home appliances and mobile communication solutions, LG Electronics is comprised of 5 business units. They include Home Entertainment, Home Appliance, Air Conditioning, Business Solution and Mobile Communications, operating overseas production bases and marketing departments around the world employing over 82000 people in 114 operations.
LG Electronics is operating a global R&D system that consists of 29 research centers and 6 design centers in Seoul (Korea), New Jersey (The USA), Beijing (China), Tokyo (Japan), New Delhi (India) and London (The UK), employing 16,000 people. With the world-wide leading products such as optical storage (35% of global market share), PDP (36%), CDMA cellular phone (21.2%), home air conditioner (18%), LCD & Plasma TV (9.7%), and DVD (10%), etc., LG Electronics is consistently consolidating its position as a global company.
Along with stable operation of all the business units especially mobile communication, 2008 annual sales on a global basis soared 20.8% to a company record-high level of KRW 49.33 Trillion (USD 36.22 Billion) with operating profit recording KRW 2.13 Trillion (USD 1.56 Billion). Consolidated sales including subsidiaries rose 18.4% YoY to KRW 63.18 Trillion (USD 46.39 Billion); consolidated operating profit reached KRW 4.05 Trillion (USD 2.97 Billion), for a margin of 6.4%, 1.1% point higher than 2007.
Since the establishment of the Huizhou factory in 1993, LG Electronics has been in China for 16 years. With the joint efforts of the employees, LG Electronics has become one of the representative enterprises in China's consumer electronics and telecommunications industry. Centered by LG Electronics (China) in Beijing, LG Electronics has 5 sales subsidiaries in Beijing, Shanghai, Guangzhou, Chengdu, Shenyang, 1 R&D Center in Beijing, 13 factories and service net around China. LG Electronics (China) has become a strong corporation with more than USD 2.5 Billion investments and 36,000 employees. In China, LG Electronics achieved USD 10 Billion revenue in 2007, with the popularity in flat panel TVs, side-by-side refrigerators, front-loading washing machines, mobile phones, and monitors with consumers.
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