Word: lg
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Dates: during 2000-2009
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...this new digital world, LG has a distinct advantage in its ultra-wired South Korean home base. The demanding Korean market, where an amazing 84% of households using the Internet have high-speed access, propels LG to develop more advanced products and provides a testing ground for new technologies. LG has outpaced Nokia and Motorola in cramming the hottest new features into a mobile phone. One of its latest models, the SC8000, which came out in Korea in April, combines a PDA, an MP3 player, a digital camera and a camcorder. The advantage is paying off. In May, LG launched...
...LG faces plenty of competition. Its biggest rival at home and abroad, Samsung Electronics, whose revenues of $36.4 billion are two times as large as LG's, has already hit the U.S.?and scored big successes. Samsung is also ahead of LG in developing a truly global brand. LG executives hope that competition from Samsung will make their company stronger. "Their presence as a very strong competitor in our neighborhood has always kept us alert and awake," says LG's Woo. "This has helped us compete in overseas markets as well. I can be more successful with Samsung's success...
...LG's first crack at the U.S. market ended in disappointment. Beginning in the 1980s, LG sold cheap TVs under the brand Goldstar, after the company's former name, Lucky-Goldstar. In 1995, LG purchased American TV maker Zenith Electronics Corp. and began using that moniker on its products. But four years later, Zenith filed for bankruptcy, a victim of cutthroat competition. To avoid a repeat of that failure, LG was content until recently to supply other companies with appliances that sell in the U.S. under their own brands. Chances are, the average American may own an LG-made product...
...These days, however, a monumental transition is taking place in U.S. living rooms, and LG smells opportunity. Consumers are tossing aside boxy TVs and clunky VCRs in favor of wide, flat screens, DVD players and, eventually, computer-like systems with digitized video and music recorders and Internet services. With this emerging gadgetry, LG is surprisingly well positioned. LG.Philips has been a leader in developing large, flat displays, and LG makes 70% of all set-top boxes for receiving digital satellite TV sold...
...seem odd that at this crucial time LG has turned over its top job to a farm boy from a tiny village in eastern South Korea. Kim Ssang Su spent his childhood knee-deep in the family's rice paddies. Even now, Kim is a bit of a fish out of water. He took over from the debonair John Koo, a senior member of LG's prestigious founding family. Kim has never worked outside Korea or, before becoming CEO, even at LG's glitzy Seoul headquarters, known locally as the "Twin Towers." He had spent his entire career buried...