LG Electronics' History, CEO, Future, Stock Price Analysis

LG Electronics is a South Korean electronics manufacturer.

1. History of LG Electronics

The history of LG Electronics is as follows. The history of LG Electronics goes back to 1958. Founded under the name of Geumseongsa, LG Electronics has entered the electronics field, starting with radio production. It produced Korea's first refrigerator in 1965, and Korea's first black-and-white TV in 1966. LG Electronics distinguished itself in home appliances and TVs in the 1980s and 1990s. It produced Korea's first color TV in 1984, and Korea's first VCR in 1985. It produced Korea's first LCD TV in 1995 and Korea's first OLED TV in 2007. Since the 2000s, LG Electronics has also entered the field of smartphones and auto parts. In 2007, Korea released its first smartphone, Optimus View, and in 2014, Korea's first electric car, NEXO. LG Electronics is currently a global leader in electronics. It produces various electronic products such as refrigerators, washing machines, TVs, air conditioners, smartphones, and laptops, and has entered more than 100 countries around the world to sell electronic products.

2. LG Electronics CEO

The current CEO of LG Electronics is Jo Joo-wan. Jo Joo-wan has been the CEO of LG Electronics since January 2022. Born in 1960, he received a bachelor's degree in business administration from Seoul National University. He joined LG Electronics in 1983 and held various positions in the TV division, the air conditioner division, and the HE division. He became the president of LG Electronics in 2017 and was promoted to CEO in 2022. CEO Jo Ju-wan is a CEO who emphasizes innovation and customer experience in electronics. He emphasizes that LG Electronics needs to focus on innovation and customer experience in order to continue to grow as a leader in electronics. In addition, LG Electronics emphasizes the need to provide a new user experience by combining artificial intelligence (AI) and Internet of Things (IoT) technologies with electronic products. CEO Jo Ju-wan is recognized as an expert in electronics. In 2017, he was named the No. 1 "CEO of Korea" by the Korea Economic Daily, and in 2018, he was named the 100 "Influential Business Leaders of Asia" by Forbes. CEO Cho Joo-wan is expected to lead LG Electronics to continue to grow as a leader in electronics.

3. LG Electronics' Future

The future of LG Electronics is bright. LG Electronics is gaining worldwide fame for its innovative technology and design of electronic products, and is providing a new user experience by combining artificial intelligence (AI) and Internet of Things (IoT) technologies with electronic products. LG Electronics is also investing in future growth engines such as electronic components, robots, and healthcare. LG Electronics is working with Bosch of Germany, a global leader in electronic components, and Roboticum, a U.S. robot company, in the robot sector. LG Electronics is also working with HealthLog, a U.S. healthcare company, in the healthcare sector. Through these efforts, LG Electronics is expected to continue to grow into a leader in electronics.

4. LG Electronics Stock Price Analysis

Shares of LG Electronics rose to around 120,000 won in early January 2022, but have continued to decline since then. The reasons for the decline include a slowdown in the global economy, rising raw material prices, and intensifying competition in the smartphone market. However, LG Electronics expects growth in new businesses such as electric vehicles, robots, and home appliances. LG Electronics has established a joint venture of LG Magna e-Powertrain to strengthen its electric vehicle parts business. The robot business is also expanding, and it plans to increase robot sales to 1 trillion won by 2023. The home appliance business is also promoting growth focusing on premium products. LG Electronics' stock price is expected to continue to decline in the short term. However, if growth in the new business becomes visible, the stock is expected to rebound.

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