LG Electronics has seen significant global growth through its brand transformation, securing a spot among the top global brands. On October 10, LG was ranked 97th in Interbrand’s Best Global Brands 2024 report, with a brand value estimated at USD 6.5 billion.
LG’s Brand Transformation
Interbrand’s annual ranking evaluates brand value based on financial performance, brand influence, and strength. LG’s brand value increased by 38.7% compared to last year, with its focus on becoming a Smart Life Solution Company playing a key role in this growth, along with efforts to maintain consistent customer engagement across regions and generations.
In 2022, LG announced its vision to evolve into a “Smart Life Solution Company,” aiming to improve customer experiences across diverse environments such as homes, commercial spaces, and virtual realms. Since then, its brand value has more than doubled from USD 3.1 billion in 2022 to USD 6.5 billion in 2024.
The company’s “Brand Reinvent” initiative has been instrumental in this transformation, positioning the company as a dynamic brand that resonates with different generations. The company has also launched global campaigns, including the “Optimism your feed” initiative, which gained significant attention with over 1.8 billion views on social media.
Pokdepinion: Certainly a well-known brand amongst the home electronics companies.
