Word: low-cost
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...While most of the electronics industry, including Sony, suffered sagging growth and profits in recent years, LG's market presence surged. Revenues jumped 18% last year, to $17 billion, and net profits rose 33%, to $556 million. LG has the electronics world bracketed. At the commodity end, low-cost plants in China make the firm a power in developing markets. At the big-bucks, high-tech end, LG's home in broadband-rich South Korea has fostered a focus at LG on design and function that fits perfectly into the emerging digital home. Last year LG was the world...
...growth has brought LG to the cusp of greatness but not quite into the industry's aristocracy. Still missing is the global brand name crucial for commanding high premiums and outpacing low-cost manufacturers in China. It is an accomplishment hardly any Asian corporations have managed to achieve. "We've had success at the foothills," says Woo Nam Kyun, president of LG's digital-TV operation. "Now we have to climb the mountain...
...would be wrong, though, to underestimate Kim, who has become near legend in Seoul for the turnaround he engineered at LG's appliance business. When he took over in 1996, LG was making washing machines and refrigerators that seemed little more than cannon fodder for low-cost Chinese companies like Haier. Kim sliced costs by moving production of low-end products to China. He proved there is room for innovation in basic white goods, introducing, for example, appliances like air-conditioners that can be controlled from the Internet. The result: sales reached $4.7 billion last year, more than twice...
...While most of the electronics industry, including Sony, suffered sagging growth and profits in recent years, LG's market presence surged. Revenues jumped 18% last year, to $17 billion, and net profits rose 33%, to $556 million. LG has the electronics world bracketed. At the commodity end, low-cost plants in China make the firm a power in developing markets. At the big-bucks, high-tech end, LG's home in broadband-rich South Korea has fostered a focus at LG on design and function that capitalizes on the digital home. Last year LG was the world's largest seller...
Europe's budget airline passengers have become used to seats that don't recline and onboard bottled water that costs extra. Coming soon: the no-frills terminal. As early as 2006, airports in Marseille and Geneva plan to open terminals catering to low-cost airlines; Kuala Lumpur and Singapore may follow. "Don't expect carpeting," warns Loïc Chovelon, spokesman for Marseille Provence Airport, which plans to spend up to 314.5 million to convert an old cargo facility into a spartan self-service terminal. Passengers will collect their tickets from automated booths and, after clearing security, tag their...