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THE MARKET
Never before has technology been such an
important aspect of our modern, on-the-go
lives. For this reason, the Consumer Electronics
industry is fast-paced and highly competitive.
At present, the market is experiencing rapid
growth across most categories, in particular in
Visual Entertainment, which alone is valued at
more thanA$3 billion.
Next generation consumer products fromLG
will address the social and environmental issues
Australians face including water and energy
efficiency, the trend toward inner city apartment
living, and ever increasing working hours.
Consumers are naturally seeking products that
make the user experience as simple, convenient,
stylish and personalised as possible.
ACHIEVEMENTS
LG Electronics is a global leader in providing
cutting-edge, convergent electronics, information
and communications products designed to meet
the ever changing needs of consumers. LG’s point
of differentiation is its in-depth insight into
consumer trends coupled with the technical
superiority of its products.
The Korean based company operates four
business units globally including Mobile
Communications, Digital Appliance, Digital
Display andDigital Media.
2007 is the year that the LG brand celebrates its
ten years of operation in the Australian market.
From relative obscurity ten years ago, LG has
repositioned itself as a premiumbrand inAustralia,
and in the process achieved number one in seven
product categories, including plasma televisions,
LCD televisions, home theatre andDVD recorders,
microwaves, front load washers and side-by-side
refrigeration.
Over the past decade, LGElectronics has grown
to achieve annual sales turnover in excess of $1
billion dollars. For ten years LG has strived to
develop and bring to market a range of innovative
products with leading edge technology that make
‘Life Good’. This philosophy has seen the
organisation and the brand achieve many
milestones and build a loyal following.
HISTORY
Formed in 1947 by the Koo and Huh families,
Lucky-Goldstar started out selling face creams,
and quickly grew to become dominant in the
national chemical manufacturing business.
In 1958, Lucky-Goldstar entered the
electronics industry with the formation of
Goldstar Co and in 1959, Goldstar became
the first Korean company to build a radio. It
rapidly expanded during the 1960s,
branching out into the manufacture of
appliances. It built the first Korean
refrigerator in 1965, and the first Korean
television in 1966. It subsequently began the
manufacture of elevators and escalators, air
conditioners, electric typewriters, and other
electronic goods.
Goldstar gradually earned a reputation as a
supplier of low-cost, high-quality electronic
components and appliances and in the 1980s
established a solid presence in domestic and
international markets for microwave ovens and
televisions, as well as for refrigerators, washing
machines, and other major appliances.
In 1989, after a series of financial, management
and labour woes, drasticmeasures to turn the ailing
Lucky-Goldstar around saw control being
handed to Lee Hun-Jo, a 27-year Lucky-
Goldstar veteran.
By 1994 Goldstar had regained its number
one position in the South Korean market for
colour televisions, refrigerators and washing
machines. Likewise, Goldstar was achieving
marked gains overseas by focusing on emerging
markets like Russia and Vietnam while at the
same time increasing North American sales
through overseas manufacturing and
partnerships with U.S. companies.
In 1995, the company abandoned the Lucky-
Goldstar name and adopted a new corporate
name, LG Electronics and the slogan “Life’s
Good” to secure a strong, distinctive corporate
identity. The change in identification assisted the
company in entering the premium, higher scale
market. In 1997 the LG Electronics brand was
launched in Australia.
The new millennium has seen LG drive
innovation, style and digital capabilities in the
industry. LG launched the world’s first internet
refrigerator in 2000, and in 2001 followed with the
world’s first internet enabledwashingmachine, air-
conditioner, and microwave oven. The first
model in LG’s Black Label series of
premiumhandsets LGChocolatewas
introduced in 2006 and sold 7.5million
units worldwide. In 2007, LG launched
the industry-first dual-format high-
definition disc player and drive.
With consolidated sales of US$37.7
billion and overseas sales of US$ 32.6
billion (86% of total sales), LG is truly a
global leader and technology innovator in
consumer electronics, home appliances and
mobile communications, employingmore than
82,000 people working in over 110 operations
including 81 subsidiaries around the world.
THE PRODUCTS
LG’s extensive range consists of products
engineered anddesigned tomake ‘life good’.During
its ten years in the local market LG has almost
doubled its product offering to Australian
consumers.With expertise inmobile and convergent
technologies, LG’s product offering includes LG
Mobile phones with a design focused range – ‘The
Black Label Series’ including world first ‘touch
screen’ technology.
LG also caters for major appliances and
entertainment technology in almost every room of
the home including a wide range of Plasma, LCD
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