Name: In-depth SWOT Analysis Of LG| IIDE
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<div class="raw-html-embed"><div data-bglz="1" class="et_pb_text_inner"><h2><span style="font-weight: 400;">ABOUT THE COMPANY</span></h2><p><img fetchpriority="high" decoding="async" class="wp-image-223734 alignnone size-full" src="https://iide-media.blr1.cdn.digitaloceanspaces.com/production/upload-1736880462821-5c48c21ee956c302e181216e2ce630db.webp" alt="brand logo of LG- SWOT Analysis of LG| IIDE" width="275" height="183" data-srcset="https://iide.co/wp-content/w3-webp/uploads/2021/09/image1-1-1.jpgw3.webp 275w, https://iide.co/wp-content/uploads/2021/09/image1-1-1-150x100.jpg 150w" sizes="(max-width: 275px) 100vw, 275px"></p><p><span style="font-weight: 400;">LG is a South Korean gadget-producing global organization. Koo In-hwoi was the founder of LG and established the framework of the organization in October 1958 under the name of GoldStar. They changed the name to LG Electronics Inc. in January 1995. The headquarter of LG is in Yeouido-dong, Yeongdeungpo District, Seoul, South Korea.&nbsp;</span></p><p><span style="font-weight: 400;">Cell phones, appliances, sun-oriented modules, wearable gadgets, PC screens, washing machines, refrigerators, home theatre frameworks, TV, vehicle elements, air arrangements, and numerous other shopper items are a portion of the fundamental products of LG.&nbsp;</span></p><p><span style="font-weight: 400;">As per an estimate, the yearly revenue of LG in 2020 was 17.429 billion US dollars, and it has diminished by 18.03%. Out of which, the overall gain of the electronic brand was – 1.906 billion dollars, and it has expanded by 152.67%.</span></p><p><span style="font-weight: 400;">Now that we have known about it as a company, let us now see its SWOT analysis.</span></p><h2><span style="font-weight: 400;">SWOT Analysis of LG</span></h2><p><img decoding="async" class="wp-image-223728 alignnone size-full" src="https://iide-media.blr1.cdn.digitaloceanspaces.com/production/upload-1736880463373-4ed9ec8f42ee452b3ad3703e47e4d9c4.webp" alt="SWOT Analysis of LG| IIDE" width="311" height="162" data-srcset="https://iide.co/wp-content/w3-webp/uploads/2021/09/download-3.jpegw3.webp 311w, https://iide.co/wp-content/uploads/2021/09/download-3-300x156.jpeg 300w, https://iide.co/wp-content/uploads/2021/09/download-3-150x78.jpeg 150w" sizes="(max-width: 311px) 100vw, 311px"></p><p><span style="font-weight: 400;">SWOT Analysis is analyzing the strengths, weaknesses, opportunities, and threats of LG. It helps a brand to analyze their flaws and work up to the mark for their customers and even themselves.&nbsp;</span></p><p><span style="font-weight: 400;">Now let us start by looking at the strengths of LG.</span></p><h3><span style="font-weight: 400;">1. STRENGTHS&nbsp;</span></h3><p><span style="font-weight: 400;">Strengths are the areas where the company has excelled. This factor makes the company unique from its competitors. Let us begin exploring the strengths of LG.</span></p><h4><span style="font-weight: 400;">CORPORATE SOCIAL RESPONSIBILITY (CSR)</span></h4><p><span style="font-weight: 400;">LG is a profoundly dynamic association in social roles, and the organization has confidence in the equivalent circulation of wealth. The organization has utilized 83000 individuals to deal with the organization’s different activities around the world. That is how the organization is assuming its part in making business, employment opportunities for people, and numerous other social exercises.&nbsp;</span></p><h4><span style="font-weight: 400;">DIVERSE PORTFOLIO&nbsp;</span></h4><p><img decoding="async" class="wp-image-223727 alignnone size-full" src="https://iide-media.blr1.cdn.digitaloceanspaces.com/production/upload-1736880463833-7d7b72cbb686a69d15be9b47cc4757f4.webp" alt="products of LG- SWOT Analysis of LG| IIDE" width="346" height="146" data-srcset="https://iide.co/wp-content/w3-webp/uploads/2021/09/download-4.jpegw3.webp 346w, https://iide.co/wp-content/uploads/2021/09/download-4-300x127.jpeg 300w, https://iide.co/wp-content/uploads/2021/09/download-4-150x63.jpeg 150w" sizes="(max-width: 346px) 100vw, 346px"></p><p><span style="font-weight: 400;">LG has an <a href="https://www.livemint.com/technology/tech-news/lg-develops-new-cover-window-to-strengthen-foldable-displays-on-phones-11631087392616.html" rel="nofollow noopener noreferrer" target="_blank">assorted item portfolio</a>. It implies that the organization isn’t depending on the offering of few items only. The organization has procured market honour in offering different items. It’s one of the strong qualities of the brand.</span></p><h4><span style="font-weight: 400;">PROGRESSED DISTRIBUTION NETWORK&nbsp;</span></h4><p><span style="font-weight: 400;">LG provokes interest in its items by utilizing the pull strategy. Alongside the force system, the brand sets up associations with different neighbourhood and provincial merchants. They make the item accessible to clients across the world. In any case, the developing interest pushes retailers to keep an additional supply of items.&nbsp;</span></p><h4><span style="font-weight: 400;">WORLDWIDE BRAND&nbsp;</span></h4><p><span style="font-weight: 400;">As indicated by a gauge, LG is maintaining its business realm over 128 nations across the globe. The brand has utilized more than 83,000 workers around the world. Individuals perceive the brand on account of its unwavering quality, advancement, and innovative work.</span></p><p><span style="font-weight: 400;">Now let us see the weaknesses of LG.</span></p><h3><span style="font-weight: 400;">2. WEAKNESSES&nbsp;</span></h3><h4><span style="font-weight: 400;">LOWER MARKET SHARE&nbsp;</span></h4><p><span style="font-weight: 400;">LG has a restricted piece of the pie in the cell phone industry than other world’s driving brands like Huawei, Samsung, Apple, Xiaomi, and others. They’re diminishing the organization’s productivity. Nonetheless, there are reports that LG will leave the cell phone industry in 2021, and centre around other shopper electronic items regions. LG possesses this weakness as its competitors are working on increasing their market share in the industry. LG works on technology well but not on the outer factors that lead to a developed brand.</span></p><h4><span style="font-weight: 400;">RESTRICTED SOCIAL MEDIA INFLUENCE&nbsp;</span></h4><p><span style="font-weight: 400;">LG hasn’t been dynamic on the web-based media stages like Facebook, Twitter, Linked In, Instagram, TikTok, and others. These stages have billions of clients. When an organization doesn’t remain dynamic on those stages, then, at that point it’s restricting its development. Since social media has played a vital role in managing the brand image, LG lacks terribly on this part.</span></p><p><span style="font-weight: 400;">Now let us move on and look at the opportunities for LG.</span></p><h3><span style="font-weight: 400;">3. OPPORTUNITIES&nbsp;</span></h3><h4><span style="font-weight: 400;">ORGANIZATIONS AND ALLIANCES&nbsp;</span></h4><p><span style="font-weight: 400;">LG ought to think about procurement and organization with other more modest and new companies; it would expand the item portfolio and the organization’s growth. For example, the organization purchased Zenith Corporation in 1995. Alongside portfolio extension, the associations and coalitions additionally increment.</span></p><h4><span style="font-weight: 400;">GROWING MARKETS&nbsp;</span></h4><p><span style="font-weight: 400;">LG must go into the business sectors of creating markets, if the organization stands out for them, it would expand its market share with a ton of new clients’ data set. Since the industry is vast and growing tremendously over the period, LG must overcome its weaknesses and bombard the various sectors to increase its productivity and maintain goodwill.&nbsp;</span></p><h4><span style="font-weight: 400;">POSITIVE IMPACT OF COMPETITION</span></h4><p><span style="font-weight: 400;">The developing competition has established a climate of development and efficiency. LG is putting resources into advancement and innovative work to acquire rivalry. Different contenders are doing likewise. All in all, all the tech organizations are pushing every other development.&nbsp;</span></p><h4><span style="font-weight: 400;">CHANGING LIFESTYLE&nbsp;</span></h4><p><span style="font-weight: 400;">Tech electronic items have become a fundamental piece of our lives. The utilization of mobile phones, TVs, the web, and numerous other electronic machines are expanding the interest in LG’s items. LG should now focus on its clients’ market with the most recent customer electronics and advance that it could make their lives simpler.</span></p><p><span style="font-weight: 400;">Now lastly we shall see the threats for LG.</span></p><h3><span style="font-weight: 400;">4. THREATS</span></h3><h4><span style="font-weight: 400;">WRONG GREEN CLAIMS&nbsp;</span></h4><p><span style="font-weight: 400;">LG has made wrong claims many a time throughout the years about its items being harmless to the ecosystem. The organization needed to pay 3 million on its illegitimate cases about energy-productive climate control systems. It brought about the type of negative standing of the organization.&nbsp;</span></p><h4><span style="font-weight: 400;">CONTEST and PRICE WAR&nbsp;</span></h4><p><span style="font-weight: 400;">The shopper electronic items and cell phone market have gotten serious. It has squeezed every one of the worldwide makers to foster something new and acquire a serious. Nonetheless, tech organizations are at a value battle with each other to draw in the consideration of clients.</span></p><h4><span style="font-weight: 400;">Competitors</span></h4><p><span style="font-weight: 400;">Samsung, Philips, Electrolux, Poly, Apple, Seiko Epson, iRobot, Panasonic, Xiaomi, Oppo, and Vivo are a portion of the primary contenders in the market.</span></p></div></div>

<div class="raw-html-embed"><div data-bglz="1" class="et_pb_text_inner"><h2><span style="font-weight: 400;">Conclusion</span></h2><p><span style="font-weight: 400;">After an in-depth study of the swot analysis of LG, we conclude that it has managed its brand identity and its quality of products in the market very well.&nbsp;</span></p><p><span style="font-weight: 400;">Some of its strengths are that it has a diverse product portfolio in the market giving different choices to its customers, it has well managed its corporate social responsibilities, and has a progressed distribution network.</span></p><p><span style="font-weight: 400;">The major weaknesses in the brand in that the smartphone line of the company is not doing that well and its social media presence isn’t that good too.</span></p><p><span style="font-weight: 400;">Whereas it does have some opportunities in the market which are the growing markets in the recent years, the positive impact of its competition and the changing lifestyle of its customers.</span></p></div></div>

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Want to know the SWOT Analysis of LG? In this blog, we have discussed the strengths, weaknesses, opportunities, and threats of LG.

In-depth SWOT Analysis Of LG| IIDE

<div class="raw-html-embed"><div class="et_pb_text_inner"><p><span style="font-weight: 400;">LG is one of the best electronic manufacturing companies in India. Due to the recent increase in sales of OLED TV’s, its TV market share globally was recorded at 19.2% in the first quarter making it the all-time high. It has sold a total of 7,279,000 units including LCD and OLED worldwide.</span></p><p><span style="font-weight: 400;">LG Electronics has gained well-known popularity in past few years. People love using its products and are happy with the latest technology used by the company in every new product they launch.</span></p><p><span style="font-weight: 400;">Thus this makes us keen to know about its strengths and weaknesses they have faced.</span></p><p><span style="font-weight: 400;">In this blog, we will look into the SWOT analysis of LG and see what were its strengths, weaknesses, opportunities, and threats.</span></p><p><span style="font-weight: 400;">Before we start with its SWOT analysis let us know about it as a company.</span></p></div></div>

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In-depth SWOT Analysis of LG

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