Industry Leader Singled Out Among ‘Best of the InfoTech 100’
ENGLEWOOD CLIFFS, N.J., June 16, 2005 — LG Electronics, Inc., the $38-billion leading global manufacturer of consumer electronics, home appliances, mobile phones and information technology products, has been ranked as one of the world’s top three technology companies and tenth biggest in current sales by BusinessWeek magazine.
Appearing in the June 20 “Info Tech 100” issue, this annual feature spotlights an elite group of the world’s most influential technology firms, the “Best Performers” in the global business marketplace. Based on financial data from Standard & Poors, BusinessWeek evaluated companies’ performance over the past 12 months and ranked them based on specific criteria, including total revenues, revenue growth, return on equity and shareholder return.
“LG Electronics is honored to lead a long line of prominent companies that deliver quality products, services and new technologies to the industry and its customers. I strongly believe that such result stems from our efforts and focus over the past year to develop products equipped with high technology for our customers,” said S.S. Kim, vice chairman and CEO, LG Electronics, Inc.
In its online article accompanying the listing, BusinessWeek highlights LG’s worldwide progress: “Already the company is the largest maker of household air conditioners in the globe and the no. 3 plasma-TV marker, while its joint venture, LG.Philips LCD, is the world’s top maker of liquid crystal displays for TVs. Late to the cell-phone party LG increased its handset sales to 44 million last year, from 6.9 million in 2000, and became the top supplier to U.S. carrier Verizon Wireless.”
The company noted that in North America, particularly, LG Electronics USA, Inc. has made significant progress in the past 12 months; revenues in North America rose to nearly $8 billion in 2004 from $5.5 billion in 2003, under the leadership of president and CEO Michael Ahn.
“We are committed to delivering best-of-breed products to our customers and to ensure that our ‘Life’s Good’ branding platform means something to them,” said Ahn. “Through our dedication, both globally and in particular in North America, to research and development, manufacturing, distribution, channel development and operations, retail partnership and sponsorship programming, customer service, and marketing initiatives, we are focused on continued growth in the United States and around the world.
The Info Tech 100 list is compiled annually by BusinessWeek based on 10,000 publicly traded corporations, and its top 2004 ranking recognizes the successful growth and strategic focus the company has achieved over the past year.
ABOUT LG ELECTRONICS, INC.
LG Electronics, Inc. (Korea Stock Exchange: 06657.KS) is a global force in electronics, information and communications products with 2004 annual sales of US $38 billion (consolidated). With more than 66,000 employees working in 76 subsidiaries in 39 countries around the world, LG Electronics is comprised of four main business companies including Mobile Communications, Digital Appliance, Digital Display, and Digital Media. For more information please visit www.lge.com.
ABOUT LG ELECTRONICS U.S.A., INC.
Based in Englewood Cliffs, N.J., LG Electronics U.S.A., Inc. (LGEUS) is the North American subsidiary of LG Electronics, Inc. LGEUS’ key product areas — consumer electronics, home appliances, information technology products and mobile phones — are designed to deliver on the promise of its “LG: Life’s Good” 2005 marketing theme. For more information, please visit http://www.lgusa.com.
CONTACTS: John I. Taylor (847) 941-8181, firstname.lastname@example.org
Clara Chang (201) 816-2011, email@example.com
Brent Tongco (312) 397-6007, firstname.lastname@example.org