LG Electronics announced that it has been ranked number one on BusinessWeek's influential 2004 Information Technology 100 list.
The South Korean appliance maker's top ranking is published in the magazine's June 21 "Info Tech 100" issue, highlighting the "world's best performers." Based on financial data from Standard & Poors, BusinessWeek evaluated companies' performance throughout 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 proud to move to the number one position on this important benchmark list," said Michael Ahn, president and CEO of LG Electronics USA. "Through our concerted efforts and dedication to bringing high-quality, best-of-breed products to market in the United States and Europe, LG Electronics is well-positioned to achieve success across all of our business areas throughout the globe."
Mr. Ahn said this milestone is a result of "LG's aggressive global R&D efforts, manufacturing and distribution plans, and global marketing efforts." The company says much of its success can be attributed to its rapid growth in core business areas, including mobile phones, home appliances, and digital plasma and liquid crystal displays, supported by aggressive brand marketing activities.
The Info Tech 100 list is compiled annually by BusinessWeek based on 10,000 publicly traded corporations. In 2003, LG Electronics placed 67th on the list. Mr. Ahn said this year's top ranking recognizes the successful growth and strategic focus the company has achieved over the past year.
to Daily News