|Legal Name:||LG Electronics Inc.|
|Headquarters Regions:||Yeouido-dong, Seoul, South Korea|
|Founded Date:||October 1958|
|Number of Employees:||250,000+|
|Area served:||United States of America and world|
|Products of Company:||electronics company|
|Net Worth in 2023:||$50 billion|
LG Electronics is one of the biggest and largest electronic product provider companies around the globe. It is a South Korean multinational electronics corporation which is headquartered in Yeouido-dong, Seoul, South Korea. The company is the part of 4th largest chaebol in South Korea ( LG Corporation). The global sales of the franchise reached $55.91 billion as per the year 2014. The company consists of four business units: Mobile Communications, Vehicle Components, Home Entertainment, and Home Appliances & Air Solutions.
The main production vendor for washing machines and refrigerators is in the Indian Sub-continent. In the year 1995, it acquired the Zenith franchise and managed 37.9% of LG Display since the year 2013. From the year 2008, the company is the world’s 4th largest LCD television manufacturer. The franchise has almost 128 operations around the world and employs around 83,000 people.
Well, how well do you know about LG Electronics? If not much, we have compiled all you need to know about LG Electronics’s net worth in 2023, wiki and complete details. Well, if you’re all set, here is what we know about LG Electronics to date.
The multinational LG Electronics company is a popular and one of the largest electronic manufacturing companies worldwide. The franchise was established in October 1958 as GoldStar and later as LG Electronics in January 1995. It is a public type of company which serves the people of the world with its magnificent products. The corporation is established by the Koo In-home around 62 years ago.
The key people of the franchise include Kwang-Mo Koo, who serves as the Chairman, Jo Seong-Jin, who serves as the Vice-chairman and CEO, Jung Do-Hyun, who serves as the President and CFO and I.P. Park, who serves as the President and CTO. The parent company of LG Electronics is LG Corporation, and its subsidiary Corporation is called Zenith Electronics. The company has more than 72,600 employees who work very hard to satisfy the customers.
From its launch to now, the franchise has used three slogans for marketing. The first slogan introduced by the franchise was “We Put People First,” and this slogan was there from the year 1997 to 1999. In the year 1999, the slogan was rebranded as “Digitally Yours” and remained till the year 2004. The slogan was again rebranded as”Life’s Good” in the year 2004.
The company was established in the year 1958 by the Koo-In Hwoi as the GoldStar. After the Korean war, the conglomerate was founded to rebuild the nation with some home production of appliances and electronics for the people. This is the franchise which is a manufacturer of washing machines, TV, radios, refrigerators, and air conditioners in South Korea for the very first time.
On the 28th of February in the year 1995, the GoldStar franchise collaborated with LS Cable and Lucky Chemical and was rebranded as Lucky-Goldstar. Afterward, the name was rebranded as LG Electronics. When the company started exports of its products, it gained more than dollar 100 million in the franchise’s history. Due to its fast development and growth, the conglomerate founded its a foreign production house in the United States of America in 1982.
Zenith Electronics was acquired by the company in 1995 and absorbed in 4 years. Later, the franchise made the first-ever digital phone globally, and those were exported to the US nation. This was the time when the corporation got its UL certification from the US. The franchise manufactured its first world’s plasma television of 60 inches in the year 1998. Later that same year, the franchise collaborated with Hynix. Afterward, the company gained massive success and popularity, and due to this, it founded its various branches in several foreign nations.
In 2003, the company associated with LG CI to gain a better hold of its revenue. The company became a vital part of the global electronics consumer industry. In 2005, the company became one of the top hundred global brands. The company made its way to the smartphone industry in 2010 and gained massive profits. The franchise also manufactured its first 84 inches Ultra HD TV in the globe.
From that point of time to now, the company has progressed massively and has earned huge customers worldwide.
The multinational company has produced various electronics in its journey and has achieved huge success from them. In the year 2018, the LG steam care clothing system got allergy and asthma-friendly certification. The corporation is one of the most loved electronics conglomerates around the globe. The franchise products are of high quality and never fail to impress its customers, which is the biggest reason for its massive success and profit.
Net Worth & Earnings of LG Electronics in 2023
As of 2023, the net worth of the conglomerate (LG Electronics) is estimated to be $50 billion. More than 250000 employees are serving the company with their best service. The franchise is best in manufacturing smartwatches, tablets, smartphones, rolling keyboards, and other home appliances.
The franchise also offers sponsorship to other corporations, which makes the company’s profits multiplied faster. The subsidiary company of the franchise is Zenith Electronics.
LG Electronics is a popular and multinational conglomerate which is specialized in manufacturing several electronic products. The company has always served its customers with its best service. The majority of the customers of the corporation are immensely satisfied with the products. The corporation has always growing and developing a new version and continuing to do so in upcoming years. The company produces high-quality electronics, which the users highly appreciate.