LG AND VMWARE JOIN FORCES TO ACCELERATE ENTERPRISE ADOPTION OF EMPLOYEE-OWNED SMARTPHONES
Partnership Targets New Methods for Businesses to Manage Employee-Owned Mobile Devices
SEOUL and PALO ALTO, Calif., Dec. 7, 2010 -– LG Electronics (LG) and VMware, Inc. (NYSE: VMW), today announced a partnership to help enterprises of all sizes improve security and control of sensitive corporate data while enabling more flexible access via employee-owned mobile devices.
Using end user computing technology from VMware, LG is aiming to increase its footprint in the enterprise sector while providing more options for both consumer and business customers. This new technology will enable users to adopt the mobile device of their choice, while allowing corporate IT departments to manage sensitive data on those devices with enterprise-level security and compliance.
Initial efforts include enabling LG smartphones to securely run a work account in isolation from a user’s personal account on a single mobile device. With this feature, LG mobile users will be able to safely carry a single device for both personal and work use. Solutions using mobile virtualization technology from VMware are expected to be available on LG smartphones in 2011.
“The enterprise and SMB markets are key areas of focus for LG,” said Ki S. Kim, Vice President of Global Enterprise Solutions at LG Electronics Mobile Communications Company. “Our partnership with VMware is part of LG’s global strategy to develop smart mobile devices for businesses. Enterprise IT organizations are looking for a way to embrace the growing trend of employee-owned mobile devices at work, while still maintaining control over their corporate data. VMware’s industry leadership provides a platform for LG to extend its presence in enterprises and deliver compelling solutions that address the challenges raised by the convergence of IT and mobile communications.”
Enterprises Embrace Employee Owned Mobile Devices
More than ever, organizations are dealing with two fundamental client-computing pain points -– providing secure data access to an increasing number of mobile users, and managing the burgeoning diversity of data, applications and client devices within the enterprise. Establishing a new end user computing model to address these points is a fundamental component the VMware “IT as a Service” vision.
“As workforces become more mobile, our customers increasingly view today’s new breed of mobile devices as mission critical tools for their business,” said Dr. Stephen Herrod, CTO and senior vice president of R&D, VMware. “The reality is that today’s employee-owned mobile devices are often more advanced than corporate offerings. As a result, the agile enterprise is looking to embrace new end user computing models that allow users to work on the devices they love. We are excited to work with LG to develop mobile solutions that address the end user desire for affinity and the enterprise desire for manageability, security and control.”
“Smartphones are driving demand for an enhanced mobile experience as business-specific devices lose appeal and employees look to use their personal devices at work,” said Stacy Crook, senior analyst for IDC’s Mobile Enterprise research programs. “For the business market, the individual-liable, employee-owned model is here to stay. Savvy companies will embrace the trend and procure the necessary means to ensure that all devices with sensitive information are managed properly.”
Humphrey Chen, executive director of New Technologies, Verizon Wireless added, “We’re seeing interest from Verizon Wireless customers in the area of mobile personas, which allow a personal mobile phone to be leveraged in a professional setting in a secure way that is IT-approved. The kind of virtualization VMware offers helps to make this happen, and we`re evaluating ways to help our customers achieve this.”
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LG’S VERIZON WIRELESS’ FIRST LTE USB MODEM
LG TO UTILIZE ONLY CLEANER ECO-MAGNESIUM IN ALL MOBILE DEVICES BY 2012
New Metal Substitute to Slash Emissions in Manufacturing 24,000-Fold
SEOUL, Dec. 1, 2010 — LG Electronics (LG) has announced it will replace all conventional magnesium inside its mobile phones with Eco-Magnesium, a new type of clean magnesium alloy, by 2012. The decision will reduce greenhouse gas emission by a factor of approximately 24,000 during the die casting process without affecting the quality of the final product.
Eco-Magnesium was developed by the Korea Institute of Industrial Technology (KITECH) with funding from the government of Korea. During production, Eco-Magnesium creates practically no sulphur hexafluoride (SF6), which the Intergovernmental Panel on Climate Change (IPCC) cites as one of the most potent greenhouse gas ever encountered. Replacing conventional magnesium with Eco-Magnesium in mobile phones will reduce carbon dioxide emissions by four kilograms for every handset LG produces.
On November 29, LG signed a memorandum of understanding (MOU) with the three producers of Eco-Magnesium — HK High-Tech Co., Keumgang Coen and Hallacast Co. As part of the agreement, LG will provide the three companies with training in the practice of carbon credit trading and technological support. The MOU promises to help LG greatly reduce its greenhouse gas emissions and earn valuable carbon credits.
“Eco-Magnesium is one of LG’s key strategies in our ongoing effort to transform LG into a leader in more environmentally responsible manufacturing,” said Dr. Skott Ahn, President and Chief Technology Officer of LG Electronics. “This transition to Eco-Magnesium will allow LG and our customers to play a small but significant role in making the world cleaner for future generations.”
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LG ANNOUNCES CORPORATE RESTRUCTURING TO ADDRESS CURRENT AND FUTURE CHALLENGES
Company Expects Completely Integrated Organization Concept to
Lead to Even Faster Decision Making
SEOUL, Nov. 30, 2010 -– LG Electronics (LG) today announced a number of restructuring commitments as part of its ongoing transformation process to overcome the current challenges and to accelerate future growth. The restructuring is aligned to three main priorities — to establish business unit-centered complete operating system to ensure speed and accuracy in decision-making, enhance development of advanced technology and reinforce new business organizations with a clear eye to the future and strengthen the company’s business fundamentals by accelerating innovation.
The Business Innovation Office will be established and overseen directly by Vice Chairman Bon-joon Koo. It will be responsible for elevation various company core competencies such as Six Sigma, services, procurement, etc. CMO is disbanded while Global Marketing Division is renamed as Global Marketing Office to promote LG Brand and strengthen subsidiaries’ sales capability.
To give more emphasis to individual products, the Business Solutions (BS) Company will be dissolved, with the monitor and solution business units transferring to Home Entertainment (HE) Company. In consideration of their business characteristics, Home Entertainment Company’s digital storage (DS) business unit, Mobile Communications (MC) Company’s PC business unit and Business Solution Company’s car business unit will become independent units and report directly to the Vice Chairman.
To strengthen its existing business and develop new capabilities, the Home Appliance (HA) Company will elevate its component business with the establishment of a compressor and motor business unit. A separate healthcare business team will drive growth in this category and a separate commercial water business team will be created to drive the water business forward.
The Air Conditioning (AC) Company will take on the new name of Air Conditioning and Energy Solution (AE) Company that will take on future growth opportunities in the environment space such as solar and LED lighting.
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LG SETS SIGHT ON DEVELOPING GLOBAL LIGHTING SOLUTIONS BUSINESS BY END OF 2011
Official Certifications Foundation for Worldwide Launch of Lighting Business
SEOUL, Nov. 26, 2010 –- LG Electronics (LG) announced today that its LED lighting and Plasma Lighting System (PLS) products have received official certifications from European, Chinese, Japanese and Korean governments for energy efficiency, quality and safety. With these endorsements, LG will initiate a global roll-out of its newest business initiative as a total lighting solution provider.
The competitive advantage of LG’s LED lighting solution is in the company’s core optic technology, heat management and circuit design. As a long-standing market leader in heating, ventilating and air conditioning (HVAC), LG will be able to leverage its strengths in price competitiveness, quality service and industry know-how as a total energy solution provider.
“Energy and carbon protection concepts have been widely accepted throughout the world and there is more missions for companies with core technologies and brand recognition,” said Mr. Yonghwan Kim, Vice President of Lighting & Solution Business Team of LG Electronics. “With long-honed expertise in energy efficient technologies, the potential for LG to make a significant contribution is enormous.”
The global solid state LED lighting market is increasing at an average growth rate of more than 30 percent and it is expected to replace conventional lighting by 2015 with a market size of USD 5.1 billion. LG started rolling off its LED production line in Gumi, located in North Gyeongsang Province in South Korea, last September and, the company expects to reach an annual production capacity of approximately 5 million units by 2012.
The Korea Energy Management Corporation (KEMCO), in awarding energy efficiency certification to LG’s 53-watt LED flat lighting, noted its substantial energy saving of up to 70 percent compared to existing fluorescent lamps and its exceptional lifespan of more than 50 thousand hours (equivalent to 10 years if used 12 hours per day). The company’s MR16 LED light, an energy-efficient alternative that offers energy savings of up to 80 percent, was also recognized by KEMCO earlier this year.
Further efficiencies are demonstrated in LG’s unique PLS lights, which adopt technology based on microwave plasma emissions. The Swedish Institute for Testing and Approval of Electrical Equipment, the China Quality Certification Center and Japan Electronical Safety & Environment Technology Laboratories granted LG certifications for two of its PLS fittings: PSH07, a 730-watt interior light, and PSF10, 1-kilowatt flood-lighting system.
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LG UNVEILS FIRST MBR PROCESS FOR WASTEWATER TREATMENT
The Company’s Solution Marks Major Step for Water Business
SEOUL, Nov. 25, 2010 –– LG Electronics (LG) today unveiled its first wastewater treatment solution, the Green Membrane Bioreactor (G-MBR) process, just two months after the company announced plans to enter the water treatment business. Designed with the latest in efficient and advanced technologies, G-MBR signals LG’s long-term plan to be a major player in the water treatment industry.
By employing LG’s slimmer flat-type microfiltration membrane modules and optimizing the space in between, LG’s membrane bioreactor — the main component of the G-MBR process — requires 34 percent less space than conventional MBRs, making it more efficient and easier to install.
And thanks to advanced debris screening technology, the membranes utilized in LG’s G-MBR are highly resistant to contamination and fouling. This ensures a longer lifespan while still delivering significant savings in maintenance costs. Also, G-MBR`s phosphorus removal system is almost twice as effective as similarly-sized systems in removing phosphorus residue from wastewater. Removing phosphorus from treated water before it is reintroduced into the environment is an important part from any water treatment solution as phosphorus has been shown to contribute to the eutrophication, or heightened biological activity, in lakes, ponds and other bodies of water.
“The lack of clean water is a major cause of hunger, disease and poverty throughout the developing world,” said Young-ha Lee, President and CEO of LG Electronics Home Appliance Company. “With G-MBR, LG has taken a huge step in making affordable clean water a reality for millions of people around the world.”
LG’s G-MBR process is a recipient of the New Excellent Technology Certificate from Korea’s Ministry of Environment.
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LG CELEBRATES 20 YEARS OF SUCCESS IN INDONESIA
As the Country’s Biggest Exporter of Electronics Goods,
LG Looks to Recreate Success Across Southeast Asia
SEOUL, Nov. 22, 2010 –- Twenty years since LG Electronics (LG) began operations in Indonesia, the company now counts the fourth largest populated country in the world as one of its biggest success stories. After two decades, LG is now widely recognized as one of the emerging economy’s best retailers and exporters, producing cutting-edge TVs, refrigerators and monitors. The formula that worked so successfully for LG in the world’s largest Muslim country is now being applied to other markets across Southeast Asia.
Since opening its first Indonesian office in 1990 with an investment of USD 4.6 million, LG has grown its presence every year. From USD 1.5 billion in 2006, the company this year expects to record USD 2.1 billion in sales, an increase of 40 percent. In a report by global market research firm GfK, LG Indonesia was named the country’s top producer of electronics goods by volume for the year up to September. By categories, LG held 33.5 percent of Indonesia’s domestic LCD TV market, 31.3 percent of its refrigerators, 27.1 percent of its washing machines, 32.8 of its home air conditioners, 36 percent of its LCD monitors and 37 percent of its audio players.
“Our success in Indonesia is due to much perseverance and listening and understanding the needs of our local audience,” said Mr. Weon-dae Kim, President of LG Electronics Indonesia. “And Indonesia, as a founding member of ASEAN and a G-20 nation, is the lynchpin of our success in Southeast Asia.”
And with the population and average annual economic growth of the ASEAN member states exceed those of the EU, NAFTA, and MERCOSUR, success in Southeast Asia is crucial for LG’s global expansion.
“Indonesia and the other ASEAN countries have continued to improve policies govern-ing trade and investment, opening up their markets to companies such as LG and we have benefitted from this initiative,” said Mr. Kim. “We are confident that what has served us well in Indonesia will also work for LG in other Southeast Asian markets such as Thailand, Singapore, Malaysia and Vietnam.”
LG’s strategy for Southeast Asia is based on long-term commitment and continued in-vestment. For example, when the global recession hit in 2008, LG ramped up invest-ment and production in Indonesia, rather than reduce its business scope as other multi-national companies had done. LG’s bold move was seen as a sign of confidence in the country and did not go unrecognized by consumers.
“In the end, it’s not just about our market share or revenues. What’s most important to LG is our ability to become part of the social fabric here in Indonesia and elsewhere,” said Mr. Kim. “While we are certainly proud of what we’ve achieved here in the last 20 years, what I remember most is the smiles on students’ faces when we donate computers or air conditioners to their classrooms. Those memories will stay with me for the next 20 years.”
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From left: Budi Darmaji, Vice Minister of Indonesia Department of Industry; R. Tjip Winoto, Vice Chairman of Yayasan Sayap Ibu; Soemarmi Marjono, Chairman of Yayasan Sayap Ibu; Young-kee Kim, Executive Vice President of LG Electronics; Weon-dae Kim, President of LG Electronics Indonesia
LG INTRODUCES FULL RANGE OF LED LCD TVS IN JAPAN
Pushing Aggressively in Market Dominated By Local Brands
with Sights Set on Becoming Global Number One in TVs
SEOUL, Nov. 18, 2010 — LG Electronics (LG) announced a full range of LED LCD TVs to go on sale in Japan starting November 19. LG’s top-of-the-line TV models will be available in more than 60 retail stores in major cities such as Tokyo, Osaka and Nagoya.
Offering 10 LED LCD models in total, LG will introduce three premium FULL LED LCD TVs with 42-, 47- and 55-inch screens and seven edge-lit LED LCD models with screen sizes ranging from 22 to 42 inches.
“We are very excited and fortunate to be bringing our newest LED TV products to Japan where there is a greater awareness of the quality of Korean goods,” said Kyu-hong Lee, Vice President and CEO of LG Electronics Japan. “Japan is one of the toughest TV markets in the world but we feel we have the right combination of technology, marketing and price competitiveness to success here when other non-Japanese TV brands have not.”
At the top of the company’s lineup is the LX9500, a “Best of Innovation” award winner at the Consumer Electronics Show in Las Vegas. The LX9500’s slim and sleek INFINIA design is just 22.7mm thick and the extremely narrow 16mm bezel further enhances the 3D experience by drawing viewers deep into the heart of the action. Priced to compete with premium Japanese TV models, the LX9500 also boasts the very latest FULL LED backlighting technology and TruMotion 480Hz image processing, which combine to deliver gripping pictures in both 2D and 3D.
With a close eye on the needs of the Japanese market, LG has designed the entire TV range to use up to 35 percent less electricity compared with conventional LG LCD TVs. LG’s eco-friendly technology has earned its TVs a five-star energy rating in Japan.
According to research firm DisplaySearch, the LED LCD TV market in Japan is forecast to increase from 4 million units this year to 8.2 million units by 2014.
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LG ALIGNS WITH GOVERNMENT TO PROMOTE HIGHER GREEN STANDARDS AT GREENOMICS 2010
Setting a Higher Bar for Environmental Initiatives with
Sustainable Solutions for Global Manufacturers in MENA
DUBAI, Nov. 9, 2010 — LG Electronics, the UAE Ministry of Environment and Water (MoEW) and the United Nations Industrial Development Organization (UNIDO) joined force in Greenomics 2010 to develop a solid platform to address environmental threats and issues arising from the practical implementation of organisational eco strategy.
Greenomics 2010, held on November 8, 2010 in Dubai, was an opportunity for public and private entities to come together to determine environmental corporate responsibility for global companies conducting business in the Middle East and North Africa (MENA) region. The event was attended by over 250 high level participants including industry and thought leaders, government entities, business conglomerates, environmental specialists, blue chip companies and academia, among others.
Greenomics was born out of LG Electronics determination to ignite a positive change across all aspects of life. This year’s Greenomics focused on “clean production” in the manufacturing sector and looked to study ways to design products and manufacturing processes in harmony with natural ecological cycles. Last year, LG established a voluntary target of reducing greenhouse gases by 150,000 tons from manufacturing and 30 million tons from product use in 2020. Furthermore, LG is investing heavily in solar cell and next generation lighting as part of its 10-year business strategy.
“The Middle East and North Africa are particularly vulnerable to climate change as this is one of the world’s most water-scarce regions with a high dependency on climate-sensitive agriculture and a large share of its economic activity and population in flood-prone urban coastal zones,” said Mr. Ki-wan Kim, CEO and President of LG Electronics Middle East and Africa. “So any discussion about the environment must make this region a priority. Greenomics provides a compelling platform for change in this part of the world.”
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LG TO SHOWCASE “KITCHENS AROUND THE WORLD”
LG OWNERS TO GET FREE ACCESS TO POPULAR WINDOWS PHONE 7 APPLICATIONS
LG and Microsoft Collaborate on Developer Program for a New Mobile Platform
SEOUL, Nov. 3, 2010 — LG Electronics (LG) and Microsoft Corp. (MSFT) announced today that they are teaming up to provide customers with a free selection of quality applications for LG customers with Windows Phone 7 handsets. LG and Microsoft will subsidize a revolving portfolio of hand-picked applications, providing free access to quality applications that take advantage of the unique features and design of Windows Phone 7.
LG and Microsoft will offer Windows Phone 7 applications across popular categories – including social connectivity, gaming and helpful utilities– ensuring that customers have access to the applications they value most. Ten free applications with a value of more than USD 30 will be given away every 60 days. LG’s Windows Phone 7 customers can download these applications for free (for a period of 60 days) via LG Application Store, which will be accessible directly from LG Windows Phone 7 models.
Selected Windows Phone application developers will be provided with exclusive marketing opportunities and resources to promote their applications with LG. Developers of selected applications will benefit from promotional support through LG’s marketing presence and Microsoft’s Windows Phone Marketplace. LG will promote the new applications through in-store sales events and on the LG Mobile Global Facebook page (http://on.fb.me/bltMvp), creating a larger market for developers and bringing them closer to their audiences.
“When we pledged early last year to support Microsoft’s smartphone strategy, we knew we were making a decision that had the potential to generate ripples in the ecosystem,” said Chang Ma, Vice President of Mobile Communications (MC) Marketing Strategy Team. “Microsoft’s commitment to the developer community is well known and respected in the industry, and we look forward to seeing this partnership with Microsoft lead to greater things.”
“We built the new Windows Phone Marketplace to create new business opportunities for developers and partners alike,” said Brandon Watson, director for Windows Phone at Microsoft. “This collaboration with LG creates a win-win situation for consumers and developers and will further showcase the variety of quality games and applications available on Windows Phone 7.”
What’s more, LG will also be offering its Windows Phone 7 customers free access to even more applications developed directly by the company. These applications will also be available from the LG Application Store and will span social networking services, such as Type n Walk and Voice SNS, as well as practical tools like Subway AR.
LG and Microsoft’s developer program will kick off in November. For more information, please visit www.facebook.com/LGMobileHQ.
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About Windows Phone 7
Windows Phone 7 is a different kind of phone designed to bring together what you care about most. It’s a phone that finds information and presents it at the right time, making it glanceable. A phone that organizes what you love so finding those things is easier and faster. Windows Phone 7 simplifies basic everyday tasks — like managing e-mail or taking and sharing pictures — so you can do more in fewer steps. With Windows Phone 7, the things that matter most to people, such as games, music and video, photos, and office productivity, are organized through integrated experiences known as Hubs and fueled by the rich experiences of Xbox LIVE, Zune, Bing, and Microsoft Office.
About Microsoft
Founded in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
LG ELECTRONICS AND WFP STRENGTHEN PARTNERSHIP TO FIGHT HUNGER IN ASIA
Public-Private Partnership Targeting Under-Nutrition
SEOUL, Oct. 31, 2010 -– LG Electronics (LG) and the United Nations World Food Programme (WFP) have this week come together in new partnership to strengthen the fight against hunger and under-nutrition in Asia.
The LG Hope Family for Asia is a three-year public-private partnership through which LG will support WFP’s programmes, in Bangladesh and Cambodia to provide sustainable solutions in the fight against hunger.
“LG believes passionately in a world free from hunger,” said Executive Vice President Young-kee Kim of LG Electronics. “Through this partnership with WFP, we are contributing to real change –- not just change for one day or one week but a sustained change -– that sees families and communities lifted permanently out of poverty.”
“The leadership being shown by LGE is an example to the world of how the private sector can be a powerful force for good in our world,” said WFP Executive Director Josette Sheeran, in Seoul for the signing of the agreement between the two organisations this past week.
The funds will be used in southern Bangladesh to target an estimated 6,000 ultra-poor families affected by seasonal flooding and climate change and provide them nutritional food, through food-for-work projects designed to raise homesteads above floodwater levels, and improve irrigation and agricultural productivity.
In Cambodia, LG’s support will help raise roads above floodwater levels, ensuring vital links to markets and schools for another 6,000 families. It will also stimulate rice cultivation through improved water management and fund the construction of small-scale fish farms which will improve food security, dietary diversity and household income.
“Asia is one of the most vulnerable areas threatened by climate change,” said Mr. Woody Nam, President of LG Electronics Asia. “Climatic changes will put people at risk of hunger and malnutrition and will disproportionately impact those communities with the least resources and capacities to adapt and respond.”
LG’s Partnership of Hope for Asia builds on LG Hope Village in Ethiopia and LG Hope School in Kenya in which approximately 30,000 people annually will receive benefits between 2009 and 2011.
About WFP
WFP is the world’s largest humanitarian agency fighting hunger worldwide. Each year, on average, WFP feeds more than 90 million people in more than 70 countries. WFP now provides RSS feeds to help journalists keep up with the latest press releases, videos and photos as they are published on WFP.org. For more details see: http://www.wfp.org/rss
LG ANNOUNCES THIRD QUARTER 2010 FINANCIAL RESULTS
Home Entertainment Ships Record Number Flat Panel TVs, Home Appliance Records Consistent Growth
SEOUL, Oct. 28, 2010 -– LG Electronics (LG) today announced unaudited earnings results based on IFRS (International Financial Reporting Standards) for the three-month period ending September 30, 2010. Earnings reflected a strong performance in flat-panel TVs and home appliances while revenue and profit declined in mobile phones during the quarter.
Sales and Profit
LG posted consolidated third quarter 2010 revenues of KRW 13.4 trillion (USD 11.3 billion) a 2 percent decline from the same period last year (up 3 percent USD). Net profit was KRW 8 billion (USD 6.4 million) in the third quarter.
LG Home Entertainment Company shipped more flat panel TVs in the third quarter – 6.6 million units – than at any time in its history, a 37 percent increase from the same period the previous year. Home Entertainment revenues grew 9 percent in KRW (14 percent USD) from the year earlier due to improved LCD TV sales, especially in emerging markets. Sales were 5.4 trillion (4.5 billion USD) and operating profit was KRW 123 billion (USD 104 million).
LG Mobile Communications Company revenues decreased by 30 percent year-over-year (27 percent USD) as a result of a decline in handset shipments across developed markets. The company shipped 28.4 million handsets in the quarter, reflecting a 32 percent (29 percent USD) decline in sales year-over-year. The global introduction of the Optimus One smartphone and new Windows Phone 7 models are expected to generate a positive response from consumers in the coming months.
LG Home Appliance Company showed consistent performance with 9 percent (14 percent USD) growth year-over-year on sales of KRW 2.8 trillion (USD 2.3 billion) and an operating profit of KRW 67 billion (USD 57 million). Sales from overseas markets grew 17 percent (USD) from the previous year due to OEM business expansion in the North American market and peak season promotions in India and China. Continued growth is anticipated, especially in developing markets.
LG Air Conditioning Company sales increased 35 percent (42 percent USD) year-over-year to KRW 1.1 trillion (USD 0.9 billion) with significant growth in developing markets. The company will continue to invest in its B2B infrastructure – including commercial air conditioners – and new opportunities for its LED lighting and solar power businesses to generate a long-term foundation for growth.
LG Business Solutions Company results were essentially unchanged with third quarter revenues of KRW 1.2 trillion (USD 1.0 billion). Sales of car infotainment products grew due to the recovery of the automotive market. The company expects sales and profitability growth in the coming months with upcoming launches of premium monitors, commercial displays and hotel TVs.
2010 4Q Business Direction and Prospects
The company will focus on strengthening profitability through aggressive cost innovation and strategic investment management for the long-term. Stronger competitiveness in global smartphones, Nano FULL LED technology and consumer-friendly energy efficient products, combined with anticipated strong sales during the holiday season, are expected to contribute to the company’s overall performance in the future.
2010 3Q Exchange Rates Explained
Amounts in Korean Won (KRW) are translated into US Dollars (USD) at the average rate of the three month period in each corresponding quarter: KRW 1,185 per USD (2010 3Q) and KRW 1,241 per USD (2009 3Q).
Earnings Conference and Conference Call
LG Electronics will hold a Korean-language earnings news conference on October 28, 2010 at 16:30 Korea Standard Time at the LG Twin Tower Auditorium (B1 East Tower, 20 Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea). An English-language conference call will follow on October 29, 2010 at 10:00 Korea Standard Time (02:00 GMT/UTC). Participants are asked to call +82 2 6677 3356 and enter the passcode 51029. The corre-sponding presentation file will be available for download at the Investor Relations sec-tion of the LG Electronics website (http://www.lg.com/global/ir/reports/earning-release.jsp) at approximately 13:00 Korea Standard Time on October 28. Please visit http://pin.teletogether.com/eng/ and pre-register with the passcode provided. For those unable to participate, an audio recording of the news conference will be available for a period of 30 days after the conclusion of the call. To access the recording, dial +82 2 6677 3358 and enter the passcode 279432 at the prompt.
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About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 80,000 people working in over 115 operations around the world. With 2009 global sales of 55.5 trillion Korean Won (43.4 billion US Dollars), LG comprises of five business units – Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is one of the world’s leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both a Global Partner of Formula 1™ and a Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event. For more information, please visit www.lg.com.
Media Contact
Seye Im
LG Electronics Corporate Communications
82 2 3777 3631
lgpr@lge.com
www.lgnewsroom.com
LG TOPS ASIA’S TOP 1,000 BRANDS FOR FRIDGES, WASHING MACHINES AND AC
