Top 10 Consumer Electronics Companies in the World 2018

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7. LG

LG is a south-korean company MNC with a presence in over 80 countries across the globe.


Image: flickr.com/photos/linsinchen/

It was previously known as Rak-Hui chemical industrial corp which is actually pronounced as lucky when it was into the production of plastics. Goldstar produced radio for South Korea, and it also produced many other consumer electronics.

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Later the merger of Rak-Hui and goldstar came to be known as LG. this brand was in the initial years famous for soaps, toothpaste etc. then later on this dissolved and the company now is known for the consumer electronics business. In the chemical industry the cosmetics industry and the consumer electronics industry consistency in quality is a must and LG delivered this expectation and soon became the world’s renowned brand. Currently the company employs around 2200 staff members, and 84000 workforces in approximately 120 operations worldwide. A major problem this company faced was that it was largely a decentralized business and therefore the purchasing decisions were done by many small units and the purchases were duplicated. Therefore, the company recognized this problem of not taking advantage of economies in bulk purchase and instituted a centralized purchasing department wherever possible in the company. The matrix structure was established in the company to monitor the purchases. Soon, the profitability of the company was restored and it became one of the top three in the world in profitability in the consumer electronics segment.

Sales revenue (USD Bn)- 57.71



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