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LG Electronics
Summary
LG Electronics Inc. () is a South Korean multinational electronics company headquartered in Yeouido-dong, Seoul, South Korea. LG Electronics is a part of LG Corporation, the fourth largest chaebol in South Korea, and often considered as the pinnacle of LG Corp with the group's chemical and battery division LG Chem. It comprises four business units: home entertainment, mobile communications, home appliances & air solutions, and vehicle components. LG Electronics acquired Zenith in 1995 and the largest shareholder of LG Display, world's largest display company by revenue in 2020. LG Electronics is also the world's second largest TV manufacturer behind Samsung Electronics. The company has 128 operations worldwide, employing 83,000 people.
In 1958, LG Electronics was founded as GoldStar (). It was established in the aftermath of the Korean War to provide the rebuilding nation with domestically produced consumer electronics and home appliances. The start of the country's national broadcasting that created a booming electronics market and a close relationship it quickly forged with Hitachi helped GoldStar to produce South Korea's first radios, TVs, refrigerators, washing machines and air conditioners. GoldStar was one of the LG groups with a brethren company, Lak-Hui (pronounced "Lucky") Chemical Industrial Corp. which is now LG Chem and LG Households. GoldStar merged with Lucky Chemical and GoldStar Cable on 28 February 1995, changing the corporate name to Lucky-Goldstar and then finally to LG Electronics.
Goldstar first went public in 1970; by 1976, it was producing 1 million televisions annually. In 1982, Goldstar opened its first overseas factory, which was based in Huntsville, Alabama.
In 1994, GoldStar officially adopted the LG Electronics brand and a new corporate logo. In 1995, LG Electronics acquired the US-based TV manufacturer Zenith and absorbed it four years later. Also in that year, LG Electronics made the world's first CDMA digital mobile handsets and supplied Ameritech and GTE in the US, the LGC-330W digital cellular phone.
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