LG Electronics wins high marks from global credit rating groups
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South Korea's LG Electronics has secured high marks from the top US credit rating agencies on the back of the company's improved brand image and stronger presence in the high-tech sector.
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(InfoWorld) - LG Electronics Inc. officially opened a large-scale electronics and electrical equipment manufacturing complex near Moscow on Tuesday. The South Korean company invested US$150 million in the complex, which will turn out 500,000 digital TVs, 700,000 washing machines, 200,000 refrigerators and 260,000 home theater systems annually, according to LG's plans. Further plans call for production of each product to rise to 1 million units annually by 2008. The complex is located in Ruza, which is west of Moscow and near to the E30 highway that runs from Moscow through eastern Europe to Germany. LG, which claims a leading market share in Russia for several products including TVs, audio equipment, vacuum cleaners, microwave ovens, video components, DVDs and optical storage, is hoping the new complex will help it expand business in Russia and eastern Europe. The company also operates factories in Poland that produce digital TVs and refrigerators. In June, LG.Philips LCD Co. Ltd. began construction of a factory in Wroclaw, Poland. The plant will take LCD (liquid crystal display) panels produced at a factory in South Korea and add additional components, including backlights and driver chips, to produce a finished LCD module. The finished modules will then be ready to be combined with other components such as tuners, power supplies and cases to form finished televisions. The LCD module plant is scheduled to begin mass production in March next year. The modules will be used in flat-panel TVs for the European market. REFERENCES: LG.Philips breaks ground on LCD module plant in Poland, Jun. 15, 2006
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Worldwide sales hit a new multibillion high; EMC passes Hewlett-Packard for first place.
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Revenues at the U.S. unit of LG  Electronics Inc. (066570.KS) rose 39 percent in the first half,  and North American sales are expected to top $10 billion this  year, fueled by demand for mobile phones, flat-screen displays  and appliances, it said on Thursday.
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The South Korean consumer electronics and appliances company swung to a profit on strong sales of appliances and premium mobile phones.
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South Korea&#39;s LG Electronics Inc.  (066570.KS), the world&#39;s top DVD player maker, filed suit  against Taiwan&#39;s Quanta (2382.TW), saying the world&#39;s biggest  contract maker of laptop computers infringed on its DVD  technology.
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Creditors of LG Card and LG Group have reached an agreement to contribute W500 billion each in the form of a bailout fund for the ailing credit card issuer, helping it avert corporate liquidation due to capital erosion.
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LG Card Co.&#39;s former owners offered a third of the 770 billion won ($740 million) that creditors of South Korea&#39;s second-largest credit card company are demanding to keep it afloat.
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The consumer electronics retailer continues to produce strong results.
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SEOUL LG Group on Wednesday made a gesture toward compromise with creditors of its crisis-struck former subsidiary, LG Card, by offering as much as 264 billion won, or about one-third of what creditors are seeking.
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SEOUL : South Korea&#39;s LG Group and creditors of its former card unit remain dvidied over a 1.1 billion dollar bailout for LG Card as overnight talks failed on how to split the rescue bill.
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Rating the consumer-products giants on key financial metrics.
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Sony hit the top of the LCD TV market last year for the first time, says study.
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LG Electronics revealed Monday that is has set a new technological benchmark by producing the world&#39;s first terrestrial digital-media-broadcasting (DMB) cell phone that allows consumers to watch programs and use normal dialing functions simultaneously.
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South Korea's LG Electronics Inc.  swung to its highest quarterly net profit in three years, thanks to its LCD venture and mobile phone sales, but the outlook remains marred by its troubled plasma display business.
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Flat screen maker LG.Philips LCD Co Ltd  reported its highest ever quarterly profit on Monday, rebounding from a year-ago loss, and predicted 2008 profitability would improve from 2007.
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Big ratings for the 2004 Summer Olympics and strong DVD sales for the newly merged NBC/Universal division made for a strong contribution to parent company General Electric&#39;s