- published: 29 May 2014
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LG Electronics (Korean: LG전자, KRX: 066570, LSE: LGLD) is a multinational electronics company headquartered in Yeouido, Seoul, South Korea. The company operates its business through four divisions: Mobile Communications, Home Entertainment, Home Appliances, and Air Conditioning & Energy Solutions. It is the world's second-largest manufacturer of television sets and third-largest producer of mobile phones. It is a flagship subsidiary company of LG Group, one of the world's largest conglomerates.
The company was originally established in 1958 as GoldStar, producing radios, TVs, refrigerators, washing machines, and air conditioners. The LG Group was formed through the merger of two Korean companies, Lucky and GoldStar, from which the abbreviation of LG was derived. The current "Life's Good" slogan is a backronym. Before the corporate name change to LG, household products were sold under the brand name of Lucky, while electronic products were sold under the brand name of GoldStar (Hangul:금성). In January 2009 LG was able to buy the domain name LG.com, for a price reportedly to be more than $100 million, placing it among the companies who own their two letter brand's domain name.