Appliance and consumer electronics maker LG Electronics, Inc. announced that it has been ranked as one of the world's top three technology companies and tenth biggest in current sales by BusinessWeek magazine.
The ranking will appear in the June 20 "Info Tech 100" issue, which spotlights the world's most influential technology firms and the "Best Performers" in the global business marketplace. Based on financial data from Standard & Poors, BusinessWeek evaluated companies' performance over the past 12 months and ranked them based on specific criteria, including total revenues, revenue growth, return on equity, and shareholder return. The list is compiled annually and is based on 10,000 publicly traded corporations.
"LG Electronics is honored to lead a long line of prominent companies that deliver quality products, services, and new technologies to the industry and its customers," said S.S. Kim, vice chairman and CEO, LG Electronics, Inc. "I strongly believe that such result stems from our efforts and focus over the past year to develop products equipped with high technology for our customers."
In its online article accompanying the listing, BusinessWeek highlights LG's worldwide progress: "Already the company is the largest maker of household air-conditioners in the globe and the No. 3 plasma-TV marker, while its joint venture, LG.Philips LCD, is the world's top maker of liquid crystal displays for TVs."
It was also noted that in North America, particularly, LG Electronics USA, Inc. has made significant progress in the past 12 months; revenues in North America rose to nearly U.S. $8 billion in 2004 from $5.5 billion in 2003, under the leadership of president and CEO Michael Ahn.
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