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LG's Global Vision and Product Innovation

LG is a global electronics company that was founded in 1958 in South Korea. It has since grown and diversified its product portfolio, which now includes TVs, home appliances, air conditioners, business solutions, mobile phones, and other electronics. LG aims to enhance customers' lives through innovative design and smart technology. It has a customer-centric approach and seeks feedback to improve products. Currently, LG is showcasing its new Full-LED 3D TVs in various retail stores in Lebanon to raise awareness of its 3D technology and obtain customer feedback.

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0% found this document useful (0 votes)
249 views4 pages

LG's Global Vision and Product Innovation

LG is a global electronics company that was founded in 1958 in South Korea. It has since grown and diversified its product portfolio, which now includes TVs, home appliances, air conditioners, business solutions, mobile phones, and other electronics. LG aims to enhance customers' lives through innovative design and smart technology. It has a customer-centric approach and seeks feedback to improve products. Currently, LG is showcasing its new Full-LED 3D TVs in various retail stores in Lebanon to raise awareness of its 3D technology and obtain customer feedback.

Uploaded by

kumarunbk
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Companies

TV LG Time Machine 2
Since 2001, LG has two joint ventures with Royal Philips Electronics: LG Philips Display and LG.Philips
LCD, but Philips sold off its shares in late 2008.[5] Also LG has entered into a joint venture with Nortel
Networks and has created LG-Nortel Co. Ltd. LG has a joint venture with Hitachi, Hitachi-LG Data Storage,
which manufactures optical data storage products like DVD-ROM drives, CD writers, etc. LG has owned the
LG Twins baseball club since 1989. LG acquired American television manufacturing company Zenith in
1999.
VISION
LG Electronics continues to pursue its 21st century vision of becoming a worldwide leader in
digital—ensuring customer satisfaction through innovative products and superior service while
aiming to rank among the world’s top three electronics, information, and telecommunications
firms by 2010.
On our way, we hold tight to a philosophy of "Great Company, Great People," underscoring our
belief that only great people can create a great company.

LG strives for greatness in what we've identified as our three core capabilities: Product Leadership, Market
Leadership, and People Leadership—each strength a key part of realizing our growth strategies for "fast
innovation" and "fast growth".

LG Electronics is pursuing the vision of becoming a true global digital leader, attracting customers
worldwide through its innovative products and design. The company’s goal is to rank among the top 3
consumer electronics and telecommunications companies in the world by 2010. To achieve this, we have
embraced the idea of “Great Company, Great People,” recognizing that only great people can create a
great company.

Core Capabilities
Product leadership refers to the ability to develop creative, top-quality products, using
specialized new technologies.

Market leadership refers to the ability to achieve top ranking, worldwide, thanks to a formidable
market presence in countries across the globe.

People leadership refers to the market dominance achieved by selecting and nurturing talented
team players able to internalize and execute innovation across the board.
Growth Strategies
Fast innovation calls for securing a competitive edge over the competition by setting—and
meeting—the highest of goals in all realms of innovation, by at least 30%. This applies to new-
product development and unveiling, innovation in design and technology—as well as product
sales, market share, and corporate value.

Fast growth is the result of implementing strategies designed to swiftly expand market size and
earnings, with and eye toward monetary growth.
Corporate Culture
Though a company can boast stellar management strategies and an outstanding and talented pool
of employees, it is still necessary to adopt a corporate culture that can fully unleash the power of
these capabilities.
No to “No’s”
At LG, we try to meet every road block with an alternate route—brainstorming and working
harder before saying “no.”
‘We’ not ‘I’
LG’s embraces a code of strong teamwork—encouraging pride in achievement as goals are met by
many working together as one.
Fun Workplace
LG’s workplace is one where the individual’s creativity and freedom are respected, and work is
made fun.
The LG brand comprises four basic elements: values, Innovation, PEOPLE, and PASSION.
BRAND PLATFORM

Positioning Statement
LG strives to enhance the customer’s life (and lifestyle) with intelligent features, intuitive
functionality, and exceptional performance. Choosing LG is a form of self-expression and self-
satisfaction. Our customer will take pride in owning the amazing and take comfort in knowing
he/she made a smart, informed decision.
Brand Platform

The LG brand is comprised of four basic elements: values, promise, benefits, and personality.
Click each element for further details.

The Face of the Future: The meaning and inspiration behind LG’s logo design.
The letters “L” and “G” in a circle symbolize the world, future, youth, humanity, and technology.
Our philosophy is based on Humanity. Also, it represents LG’s efforts to keep close relationships
with our customers around the world.

The symbol consists of two elements: the LG logo in LG Grey and the stylized image of a human
face in the unique LG Red color. Red, the main color, represents our friendliness, and also gives a
strong impression of LG’s commitment to deliver the best. Therefore, the shape or the color of
this symbol must never be changed.
/common/flash/content/Brand_Identity.swf

Face
The stylized image of a smiling face is meant to convey company friendliness and approachability.
That the portrait is one-eyed conveys LG’s profile as goal-oriented, focused, and confident.
Circle
The circle represents the globe, symbolizing the world and all of humanity, as well as youth and
the future
Shape
The upper-right corner of the LG logo, intentionally left blank, makes the design distinctly
asymmetric—a nod to LG’s creativity and adaptability to change.
Colors
LG Red, the main color, symbolizes friendliness, and is also meant to convey LG’s commitment to
delivering the best. LG Gray represents technology and reliability.

History

The trajectory of LG Electronics, its growth and diversification, has always been grounded in the
company ethos of making our customers' lives ever better and easier-happier, even-through
increased functionality and fun.

Since its founding in 1958, LG Electronics has led the way to an ever-more advanced digital era.
Along the way, our constantly evolving technological expertise has lent itself to many new
products and applied technologies. Moving forward into the 21st century, LG continues to on its
path to becoming the finest global electronics company, bar none.

Introduces new global brand identity: "Stylish design and smart technology, in products
that fit our consumer's lives."
 Established In : Jan 1997
 Managing Director : Mr. Moon B. Shin
 Corporate Office :Plot no51, Udyog Vihar, Surajpur Kasna Road, Greater Noida (UP)
 Corporate Website : http://www.lgindia.com
 Number of Employees: 3000+

Products

Business Areas & Main Products

Home Entertainment

Plasma Display Panels, LCD TV , Colour TVs, Audios, Home Theater System, DVD Recorder/Player

Home Appliances

Refrigerators, Washing Machines, Microwaves, Vacuum Cleaners

AC

Split AC, Windows AC, Commercial AC’s

Business Solutions

LCD monitors, CRT monitors, Network Monitors, Graphic Monitor, Optical Storage Devices, LED
Projectors, NAS( Network attached Storage) and Digital signage

GSM

Color Screen GSM Handsets, Camera Phones, Touch Screen Phones, 3G Phones
LG TV

LG Flat and Color Televisions are great for small homes and offices as they don't occupy much space and still offers a
number of features which beats the competition in every aspect. Size ranging from 38 to 73 cms.

"As part of LG's firm belief that customer experience is the most important factor in the selection
process of a suitable product for their home, we are currently extending our coverage to reach the
specialty stores visitors in order for them to experience the LG 3D TVs and make their purchase
decisions based on experience and likability of the product," said Mr. Paul Choi, General Manager of LG
Electronics Operations in Lebanon.

Through this activity, LG Electronics aims to raise awareness and increase familiarity of the Lebanese
consumer with the Full-LED 3D TV and seeks to interact with the customers and get their feedback
regarding the 3D technology through specialized personnel dedicated to support customers by answering
all their questions and inquiries regarding the 3D technology. For that, LG is showcasing the Full-LED 3D
TV sets through 5 different '3D Experience Zones' in the following retail stores: Hokayem in Jnah, BHV
at City Mall and Khoury Home in Dora, Jnah and Jounieh branches.

It is worth mentioning that some of the distinguished features that LG is offering with its newest 3D TV
sets are firstly the wireless Audio-Visual link which allows LG TVs to operate without the need of any
wires except for electricity, freeing the customer from the jumble of wires and making their living rooms
more elegant and neat. The "INFINIA" design of the TV is another unique feature which comes slim in
depth and with an ultra slim shinny bezel transforming the TV into a virtual piece of art to decorate any
home.
This campaign will continue until the end of December offering Lebanese customers the opportunity to
experience LG's "Full-LED 3D" Technology.

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