LG Electronics' efforts continue to enhance the global presence of the LG brand and maximize profitable growth. In particular, LG Electronics will be focusing on achieving profitable and sustainable growth in the mobile communications and digital display sectors to strengthen its leadership in the IT industry, while at the same time increasing its market share in the home appliance and digital media sectors.
LG Electronics is pursuing its 21st century vision of becoming a true global digital leader that can make its customers happy throughout the world by means of its innovative digital products and services.
LG Electronics has set a new mid-term and long-term vision, aiming to achieve a position as one of the top three electronics, information, and telecommunication firms in the world by 2010.
Positioning Statement - LG strives to enhance the customer’s life (and lifestyle) with intelligent features, intuitive functionality, and exceptional performance. Choosing LG is a form of self-expression and self-satisfaction.
Brand Platform - The LG brand comprises four basic elements: values, promise, benefits, and personality.
• Fast Growth - Fast growth is the result of strategies designed to expand quickly, while improving the growth rate in terms of monetary value rather than quantity.
• Fast Innovation - Fast innovation involves setting extremely high innovation goals and securing a competitive edge, aiming for a target of 30% more than what our competitors can achieve. Fast innovation also means 30% more sales and improvement in our market share, new product development and unveiling such products 30% faster, developing technology and establishing corporate value three years ahead of our competitors.
• Product Leadership - Product leadership refers to the ability to develop creative, top-quality products using specialized new technologies.
• Market Leadership - Market leadership refers to the ability to achieve the "LG brand is No. 1" goal, thanks to its formidable market presence worldwide.
• People Leadership - People leadership refers to talented people, who perform extremely well by internalizing and executing innovations
LG is truly a global organization and a market leader in mobile communications, digital appliances, digital media and digital display. The organization structure, through which LG achieves its worldwide operational targets, consists of 4 regional headquarters and 5 operation centers.
Strategic Alliances - "Strategic association between corporations," in which companies with different infrastructures cooperate in the fast-developing 21st century business field, is of key significance in terms of strengthening the existing industry and creating a new one. LG Electronics is striving to become number one in the world by mingling in various business and technological fields and making strategic alliances with world famous companies.
Google - LG electronics established a strategic alliance with Google to develop a built-in Google mobile service function on its mobile phones and to benefit from cooperative marketing.
Prada – The luxury brand “Prada Phone” is a result of LG electronics advanced technology and Prada’s luxuries design.