The LG brand has not disappeared; in fact, it has grown into one of the world's largest electronics and appliance brands, but it has gone through major shifts in focus. Originally known as GoldStar and Lucky, LG rebranded in 1995 and expanded aggressively into global markets. In the 2000s, LG was a major player in mobile phones, known for innovative designs like the Chocolate, Shine, and later the G and V series smartphones. However, due to intense competition from Samsung and Apple and heavy losses, LG officially exited the smartphone business in July 2021, closing its mobile division. That is the biggest what happened moment that most consumers noticed. Since then, LG has refocused on its highly profitable divisions: home appliances, OLED televisions, HVAC systems, and automotive components and batteries through LG Energy Solution and LG Innotek. LG Display remains the world's dominant manufacturer of large OLED TV panels that are sold to Sony, Panasonic, and others. The company has also invested heavily in smart home platforms like ThinQ, robotics, and electric vehicle parts. So while you no longer see new LG phones, the LG brand is stronger than ever in appliances, TVs, and B2B technology, with annual revenue exceeding 80 billion dollars and continued innovation in OLED and energy storage.
1 votes
Marked as accepted