LG Electronics has helped the company secure sustainable growth due to its diverse management activities.
Financial Performance
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In 2006, domestic sales reached USD 24.2 billion, falling 3% from the previous year, and the net profit was USD 222 million. In comparison, global sales increased by 3% to USD 38.46 billion from USD 34.73 billion. Consolidated sales, including subsidiaries, have risen by 4% to USD 48.45 billion from USD 43.41 billion.
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Innovation
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- LG Electronics is boosting management efficiency in each core sector of its business through general management innovation activities while still promoting sustainable growth. LG Electronics redesigned its production sites using the 6 Sigma Tool, and implemented a "knowledge management" strategy to propagate knowledge created through its innovation activities. LG Electronics also made great progress in R&D thanks to the reinforcement of its core technologies by making the right choices and focusing on its main business sectors. In addition, LG Electronics’ patent strategy, etc. means that its management innovation can be ongoing to help retain its competitive edge in a global market.
