Strong research and development
LG Electronics is firmly committed to investing in Research and Development (R&D) and Design to create products with the most highly valued technology and style. LGE has 36 research labs throughout the world. The company’s strong focus on R&D has enabled the company to come out with innovative products. In 2006, LGE introduced the world’s first 60-inch single scan PDP module, the world’s highest performance LCD monitor, the world’s largest PDP TV at 102-inch, and the world’s first player for both Blu-ray and HD-DVD. It also launched the world’s first MP3 player with terrestrial DMB and the World Phone for 82 countries in 2006. The company incurred research and development cost of KRW1,669.6 billion($1.8 billion) in 2006.
Production of premium products
The company transformed itself from a maker of cheap home appliances and private label products to one of the world's leading premium electronics brands renowned for its cutting-edge technology. Premium products remain one of the fastest growing areas for LG Electronics. Product leadership drove revenue growth across every division in 2007 and in home appliance sector, revenues increased by 31%. The growth is a result of a focus on consumers and delivering products that are innovative and stylish
Leading in technology
LG Electronics is one of the pioneers in home-networked and Internet-enabled appliances, and has played a leading role in the development of technology standards for next generation home networking products.
The company has strong alliance with some of the well known companies of the world. Some of its alliances include 3M, DuPont, Best Buy, Nortel, General Electrical, Toyota, Matsushita, Phillips, and Microsoft. Moreover in 2007, company formed an alliance with two of the world’s largest internet brand including Yahoo and Google. LG Electronics has been able to enhance the status of the company through the...
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