LG Electronics is a South Korean multinational company that produces electronic and telecommunications products. It is a member of the LG Group and is based in Yeouido-dong, Seoul.
LG Electronics was launched in 1958 as GoldStar, which produced Korea’s first radios, TVs, refrigerators, washing machines, and air conditioners in the 1960s. It was renamed to LG Electronics in 1995, and has since continued to unveil many new products, applying new technologies in the form of mobile devices and digital TVs in the 21st century.
LG Electronics operates its business through five divisions: mobile communications, home entertainment, home appliances, air conditioning, and energy solutions. Its main products include mobile phones, TVs, audio and video equipment, home appliances, air conditioners, computer products, and semiconductors (DRAM, SDRAM and flash memory).
The company plays an active role in world markets with its assertive global business policy. As a result, it controls 112 operations including 81 subsidiaries worldwide, with roughly 84,000 executives and employees as of 2013.
As of September 2013, Bloomberg reported that LG Electronics was rated as the world’s second-largest television manufacturer after Samsung Electronics and the world’s fourth-largest mobile phone maker by unit sales.