LG Electronics Inc. is a South Korean electronics company headquartered in Seoul. Part of the LG group, it operates in consumer electronics, home appliances and professional equipment. Its business combines industrial design, manufacturing and software development, with a presence in homes, shops, commercial buildings and the automotive sector. Its corporate website is available at lge.com.
From GoldStar to LG Electronics
The company’s history begins in 1958 with the founding of GoldStar, at a time when South Korea was building its electronics industry. The company manufactures radios, among other products, before expanding its range to include household appliances and televisions. It thus helps equip Korean homes over time before expanding its operations internationally.
GoldStar adopts the name LG Electronics in 1995, when the Lucky-Goldstar group changes its identity. Over the decades, the company expands its production and research capabilities outside Korea. Its portfolio also evolves through withdrawals: in 2021, it announces the closure of its mobile phone business, ending a long-standing presence in this market to focus its resources on other activities.
From displays to embedded systems
Televisions are one of LG Electronics’ most visible business lines, particularly its OLED models. The company also markets monitors, video projectors and audio equipment. It should be distinguished from LG Display, a company within the same group that specializes in display panels: LG Electronics integrates components into finished products and handles their marketing and sale.
In home appliances, its range includes refrigerators, washing machines, tumble dryers and cooking appliances. The ThinQ platform connects some of this equipment to control, monitoring and maintenance functions. Heating, ventilation and air conditioning solutions, including heat pumps, complement this hardware offering.
LG Electronics also serves businesses with commercial displays and building solutions. In the automotive sector, it develops infotainment and connectivity systems, as well as electric powertrain components, notably through its joint venture with Magna. Finally, webOS, used on its smart televisions and offered to other manufacturers, supports a platform business combining access to content, services and advertising.
What next?
LG Electronics’ trajectory is based on expanding beyond one-off equipment sales. Software, connected services and business-to-business relationships can generate additional revenue, but require ongoing support for products, their security and their compatibility.
Energy-efficiency renovations in buildings and automotive electrification also open up opportunities, subject to investment cycles and local regulations. For LG, the challenge will be to integrate these markets with its traditional business lines in a competitive environment where energy efficiency, repairability and user experience matter as much as price.