Editor's Note: This article is the sixth installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations.
SEOUL, February 12 (AJP) - For more than a decade, LG Electronics has held its position as the world’s leading OLED television manufacturer, a distinction it has maintained for 11 consecutive years.
But beyond its dominance in consumer electronics, the South Korean company is making strides in the automotive sector, particularly in telematics, where it commands a 23.8 percent share of the global market as of the third quarter of 2024.
Its influence is especially pronounced in North America and Europe, where OLED televisions account for more than 62 percent of the premium TV segment.
Founded in 1958 as GoldStar, LG Electronics began its journey with the production of Korea’s first radio, later expanding into a range of consumer electronics.
The company has a storied history of firsts in the Korean market, including the introduction of transistor radios, electric fans, automatic telephones, and black-and-white televisions. These innovations helped lay the foundation for South Korea’s emergence as a global technology powerhouse.
Today, LG operates through four main business divisions: Home Appliance & Air Solution (H&A), Home Entertainment (HE), Vehicle Component Solutions (VS), and Business Solutions (BS).
Each unit maintains a distinct strategic focus, with H&A, for instance, emphasizing both traditional home appliances and a growing line of built-in solutions tailored to European markets.
As part of its broader global expansion, LG is making significant investments in subscription-based services across Asia, aiming to triple revenue in this segment by 2030. The company has already launched subscription offerings in Malaysia, Thailand, Taiwan, India, Singapore, and Hong Kong.
Despite fierce competition from industry rival Samsung Electronics, LG has carved out a stronghold in OLED technology. Its focus on premium products and cutting-edge innovation has helped sustain its competitive edge.
“The company has shown positive results in transforming business models and innovating in areas such as home appliance subscriptions and the webOS advertising and content business,” said Cho Joo-wan, LG Electronics’ chief executive. “However, given the unprecedented market uncertainties and competitive environment, we need a different level of consideration and more sophisticated execution strategies.”
LG’s prominence was on full display at CES 2025 in Las Vegas, where the company’s $2 million booth showcased its latest innovations, including high-definition wireless window displays.
Among the notable visitors was music legend Stevie Wonder, who toured the exhibit with interest, particularly in the immersive audio zone developed in collaboration with Black Eyed Peas founder will.i.am. Visitors commonly said the high-definition wireless window decorations were astounding, and the scale and resolution were impressive.
Will.i.am himself made an unexpected appearance at LG’s press conference, drawing applause as he introduced the LG Xboom wireless audio brand, which he personally helped tune.
“Joining the LG family represents an exciting future,” he said. “I focused on finding inspiration and ideas, like applying AI to Radiophie, rather than replicating previous series.”
LG’s international expansion efforts also include the launch of a virtual production studio featuring its Magnit microLED displays at its North American headquarters in New Jersey and the introduction of customized HVAC solutions at the AHR Expo 2025 in Orlando, Florida.
With an eye on the future, LG Electronics plans to invest more than 50 trillion won (approximately $37 billion) by 2030 in portfolio transformation and long-term growth initiatives.
Through these investments, the company aims to further solidify its global presence while continuing to drive innovation across its diverse business sectors.
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