or chaebol, producing a range of products in three specific
industries, spanning professional and consumer electronics
to industrial and household chemicals, with one hundred and
forty-nine subsidiaries operating in over eighty countries.
The group is engaged in chemicals, electronics, and
telecommunications and services. Today they employ
thousands of people and their assets consists of a total of
fifty-one companies, with nine in electronics, eight in
chemicals, and thirty-four in telecommunications with
locations all around the world.
Its original name was The Lucky Chemical Industrial
Corporation, and was the first Korean company to enter the
plastics industry in 1952. While expanding its plastics
business, the company moved into electronics with a new
brand name in 1958. In 1959, the company produced South
Korea's first radio. For some time, electronics were
produced under the label, while chemicals, especially
household items like toothpaste and detergent, continued to
be marketed under the brand. In1995, however, its
electronics arm was renamed something completely different
in order to better compete in Western markets. Recently,
the company has associated its marketing slogan which has
become well known. In January 2009 they became one of only
a handful of companies to own a two-lettered domain name on
the internet. Many companies simply can't use a two letter
domain name because their company name isn't as easy to
abbreviate as others.
Today their company is the world's second largest producer
of television sets and the third largest manufacturer of
mobile phones. Interestingly, while many smartphone makers
are trying to diversify their software platforms and create
handsets, they have decided to continue using the original
operating systems for the foreseeable future so as to
provide for custom-tailored devices. The company hasn't
ruled out others, but expects the original operating system
to be its primary platform for the vast majority of its
models.
This strategy is an official one, designed to improve both
companies' shares in their respective domains of the wider
mobile market. The pact comes at an important time for
both companies. In the past company mergers has been
beneficial to both parties involved. The agreement would
also create a joint research and development teams to focus
on creating phones with powerful features available only
through the tight integration between hardware and software
(not so coincidentally rather like the other powerful
smartphones on the market), along with joint marketing
efforts at various price-points around the world.
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Article written by Paul Wise. Paul has done extensive
research on LG. Visit http://www.cellkraze.com if you are
in need of Cellular Phones without the contract, including
brands such as LG.
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