Koo Bon-joon, who was the CEO and the current vice chairman of LG Electronics, was replaced by his nephew Koo Kwang-mo in July 2018 as CEO and vice chairman.
In March 2017, LG Electronics was sued for its handling of hardware failures with recent smartphones such as the LG G4.
Īt the end of 2016, LG Electronics merged its German branch (situated in Ratingen) and European headquarter (situated in London) together in Eschborn, a suburb of Frankfurt am Main. On 11 June 2015, LG Electronics found itself in the midst of a human rights controversy when The Guardian published an article by Rosa Moreno, a former employee of an LG television assembly factory.
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On 5 December 2012, the antitrust regulators of the European Union fined LG Electronics and five other major companies (Samsung, Thomson since 2010 known as Technicolor, Matsushita which today is Panasonic Corp, Philips and Toshiba) for fixing prices of TV cathode-ray tubes in two cartels lasting nearly a decade. LG Electronics has since continued to develop various electronic products, such as releasing the world's first 84-inch ultra-HD TV for retail sale. In 2010, LG Electronics entered the smartphone industry. As of 2009, its display manufacturing affiliate, LG Display, was the world's largest LCD panel manufacturer. By 2005, LG was a Top 100 global brand and recorded a brand growth of 14% in 2006. LG Electronics plays a large role in the global consumer electronics industry it was the second-largest LCD TV manufacturer worldwide as of 2013. It was then merged with and into LG CI in 2003 (the legal successor of the former LG Chem), so the company that started as GoldStar does not currently exist. In order to create a holding company, the former LG Electronics was split off in 2002, with the "new" LG Electronics being spun off and the "old" LG Electronics changing its name to LG EI. In 1999, LG Semiconductor merged with Hynix. In 1998, LG developed the world's first 60-inch plasma TV and established a joint venture in 1999 with Philips – LG.Philips LCD – which now goes by the name LG Display. The company was also awarded UL certification in the US. Also in that year, LG Electronics made the world's first CDMA digital mobile handsets and supplied Ameritech and GTE in the US, the LGC-330W digital cellular phone. In 1995, LG Electronics acquired the US-based TV manufacturer Zenith and absorbed it four years later. In 1994, GoldStar officially adopted the LG Electronics brand and a new corporate logo. Rapid growth by globalization saw the company establish its first overseas production, based in the United States, in 1982. LG Electronics earned US$100 million in revenue from exports for the first time in its history. GoldStar merged with Lucky Chemical and LS Cable on 28 February 1995, changing the corporate name to Lucky-Goldstar and then finally to LG Electronics. GoldStar was one of the LG groups with a brethren company, Lak-Hui (pronounced "Lucky") Chemical Industrial Corp. The start of the country's national broadcasting that created a booming electronics market and a close relationship it quickly forged with Hitachi helped GoldStar to produce South Korea's first radios, TVs, refrigerators, washing machines and air conditioners. It was established in the aftermath of the Korean War to provide the rebuilding nation with domestically-produced consumer electronics and home appliances.
In 1958, LG Electronics was founded as GoldStar ( Hangul: 금성).
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