‘Global Success: LG Brands Recording Remarkable Growth, Recognition’

LG Electronics has said that it is recording remarkable growth. It is making significant strides in the global market with innovative brand strategies, earning its place as a top global brand.
According to LG Electronics CEO William Cho, “We are transforming from a leading home appliance and consumer electronics company into a Smart Life solution company. As part of this transformation, we’ve initiated our brand reinvention based on our long-standing promise, ‘Life’s Good.’
“At this historical moment of business transformation, we are proud to be recognised as one of the top 100 global brands, a testament to our strong brand presence and growth potential.”
The company also said, “On October 10, LG was ranked 97th with a brand value of approximately USD 6.5 billion in the Best Global Brands 2024 report by global brand consulting firm Interbrand. Interbrand’s evaluation of the Best Global Brands assesses brand value through a comprehensive analysis of a company’s financial performance, role of brand and brand strength. Factors such as direction, engagement and relevance are considered. As a pioneer in the industry, Interbrand’s ISO-certified evaluation criteria are widely regarded as the most reliable methodology in branding and marketing.
“LG’s brand value has surged, reflecting significant improvements in business and brand competitiveness compared to the previous year. LG’s brand value increased by a substantial 38.7 per cent year-over-year, receiving high scores in the role of brand and brand strength categories.
“Interbrand attributes this positive assessment to LG’s clear vision as a Smart Life solution company and its sustained growth by exploring new opportunities. The company has also adapted its brand strategies to ensure consistent customer engagement across diverse regions and generations, utilising communication methods that resonate with online and offline audiences.
In July last year, LG unveiled its vision to evolve into a “Smart Life solution company, enhancing customer experiences across various environments, including homes, commercial spaces, mobility and virtual realms. “Since embarking on its transformation, LG’s brand value has skyrocketed. From approximately USD 3.1 billion in 2022, it has more than doubled to about USD 6.5 billion in 2024.”