Wrist Wearable Devices Market to Reach $35 billion by 2020 Wrist Wearable Devices Market | Page 27

13.8

LG ELECTRONICS INC.

Headquarters:
LG Twin Tower 128,
Yeoui-daero, Yeongdeungpo-gu,
Seoul, South Korea
Tel: [phone]
Website: www.lg.com
13.8.1

BUSINESS OVERVIEW

LG Electronics Inc. (U.S.) was founded in 1958 in Seoul, South Korea. LG is a leading manufacturer
of consumer electronics including smartphones. LG was founded in 1958 as GoldStar and the
name was changed to LG in 1995.
LG has five segments of operation, namely; home entertainment (HE), mobile communication
(MC), home appliance (HA), air conditioning & energy solutions (AE) and vehicle components. The
mobile communication segment consists of various mobiles, tablets, mobile accessories and
smartwatches. Wrist Wearable devices fall under this segment.
LG has 87,000 employees as of May, 2014. LG has operations in over 80 countries including India,
China, U.S., Germany and U.K. The key competitors include Panasonic Corp. (Japan), Sony Corp.
(Japan) and Samsung Electronics Corp. (South Korea).
13.8.2

F INANCIALS

LG generated revenue of $54.7 billion in 2013. This was effective for a 6% rise over the 2012
revenue of $51.6 billion. This growth was due to increased revenue of mobile communications
segment and air conditioning segment.