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Q1.
What is LG’s strategy to become a global top three company?
- Key Business Strategies and Plans for 2007
- To achieve maximum profitability and global market leadership, LG is sharpening its competitive edge by developing industry-leading technologies. These include next-generation mobile communications and flat panel/HD TVs
- LG is also actively pursuing standardization of essential technologies.
- LG stresses the importance of new business and product development to keep up with today’s fast-paced, ever-changing environment, endeavoring to develop ‘category-creating’ products to form new markets.
- LG is also focusing on eco-friendly, energy-saving products and LCD/digital-TV-related technologies.
- Future Technologies LG is working on include: OLED, telematics (Car A/V), plasma lighting, HomNet, home appliance systems (air conditioners, air purifiers), and memory cards, next generation displays (flexible, 3D, Laser, FED), next generation storage, fuel cell batteries, Nano/MEMS, sensors, IPTV and RFID.
For more details, visit ‘Vision’ page at About LG > Corporate Information > Our Vision
http://www.lge.com/about/corporate/vision.jsp
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Q2.
What is LG’s plan to balance its four business units and maximize profits as a whole?
- To achieve maximum profitability and global market leadership, LG will sharpen its competitive edge in developing industry-leading technologies for all four business units.
- Through synergistic cooperation between units, LG will boost overall sales and profit while maintaining cost-effectiveness. (examples: Dual-Format High-Definition Disc Player and HDTV).
For more details, visit ‘Business Domains’ page at About LG > Corporate Information > Business Domains
http://www.lge.com/about/corporate/business_domains.jsp
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Q3.
What are LG’s competitive advantages?
- We have three core competencies:
- The most advanced technologies under one roof: LG makes products for all categories of consumer electronics and mobile communication. LG’s broad technology portfolio is a competitive advantage that enables LG to bring to market a wide variety of solutions to address both customer demands and needs. Examples include:
- TV Refrigerator with Weather and Info Center
- Award-winning and industry-first Steam Washer
- Proprietary technologies: By using core, in-house technologies, we can easily create and introduce new, cutting-edge products and designs into the market:
- The industry-first Dual-Format High-Definition Disc Player “Super blue”
- HDTV with built-in DVR, also known as “Time Machine TV”
- Design excellence: Through our global design network, LG has been spearheading efforts to research and develop world-class designs that enhance our customers’ lives. Some examples are:
- LG Black Label Series (LG Chocolate and LG Shine handsets) and PRADA Phone by LG, featuring stylish exteriors and groundbreaking user interfaces
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Q4.
What percentage of total revenue comes from overseas sales, and which country is your largest market?
- LG is truly a global company with a growing portion of its revenue coming from overseas sales.
- 85% of LG’s total sales were derived from overseas markets in 2006
- The U.S. accounts for 20% of total global sales and BRIC countries (Brazil, Russia, India, China) for 20%
(for reference, Korea accounts for 25%)
For more details, visit ‘Global Operations’ Page at About LG > Corporate Information > Global Operations
http://www.lge.com/about/corporate_worldwide/list.jhtml
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Q5.
What is the global market share for your flagship products?
- LG Electronics has an exceptional global market share in numerous product categories, retaining the largest share in domestic air conditioners for seven consecutive years and in optical storage for nine consecutive years.
- LG is also the leading producer of CDMA handsets and DVD players.
- LG’s plasma panel and flat panel TVs are also very competitive in their respective fields.
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