Business Intelligence

How LG Electronics Reinvented Itself In The US

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Executive Summary

It took three attempts in four years for Korean electronics giant LG Electronics (LGE) to launch its brand in the US market in 2002. Five years later, it became the top seller of refrigerators and washing machines, and has since been successfully maintaining its lead in the two home appliance categories with current respective market shares of about 24 per cent. In addition, LGE achieved annual revenue growth of 20 per cent in the Americas, rising to more than $13 billion from $5.6 billion under the leadership of Michael Ahn, a former president and CEO of LGE Americas.

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