Strengths
Diversified operations
LGE has diversified operations. The company manufactures a wide range of products ranging from color monitors to LCD products to home appliances. It also manufactures wireless handsets and telecommunication infrastructure systems. LGE generates revenues through six business divisions: LCD (24.2%), digital display (21.3%), digital appliance (19.9%), mobile communication (18.7%), digital media (9.1%), and other business (6.7%). …show more content…
LGE is committed to invest in R&D to create products with the latest technology and style. LGE operates 38 research labs throughout the world. The company's strong focus on R&D has enabled it to come out with innovative products. In 2005, the company developed the world's first digital video recorder (DVR) in HD format and adapted it in digital TVs, digital media broadcasting (DMB) notebook PCs and DMB mobile phones. This achievement has defied conventional time and mobility limits of TVs. Other advances in 2005 include the slim phone, terrestrial DMB-enabled PDAs and steam-powered drum washing …show more content…
Its achievements in R&D and design have made LGE one of the leading players in CDMA handsets, optical storage, DVD players, residential air conditioners, plasma panels and LCD displays and provides LGE an edge in the market over its competitors.
Strategic alliances
The company has strong alliances with some of the well known companies of the world. Some of its business alliances include 3M, DuPont, Best Buy, Nortel, General Electrical, Toyota, Matsushita, Phillips and Microsoft. In 2007, the company formed an alliance with two of the world's largest internet brands including Yahoo and Google.
Further, in February 2008, LGE formed a strategic alliance with Alcatel-Lucent to expand collaboration and expanded their collaboration on the development, testing and commercialization of Long Term Evolution (LTE) mobile broadband technology.The company entered a strategic business partnership with Honeywell, a global manufacturer in automation and control solution, in June 2008. Through this collaboration, the company expects to establish a solution for spec-in sales activities, expand its capability in relevant technologies and improve its engineers’ skills through