LG Electronics, Inc. (LG) is a widely diversified global leader and technology innovator in consumer electronics, turning over more than Aus $48 billion in 2010. Unlike some rival panel manufacturers, whose fortunes fall and rise with the ups and downs of the solar industry, LG manufactures leading flat panel TVs, home appliances, communication equipment, LED lighting and solar modules.
LG walks the talk regarding environmental leadership. We have set a greenhouse gas reduction goal and established our management system accordingly. For example in 2010 we cut greenhouse gas emissions from product manufacturing by 160,000 tons compared with 2008 emissions.
The history of LG’s solar business can be traced back to the mid-1980’s, when the LG central research laboratory started R&D on solar technologies. LG considers the solar power business not as a mere business expansion, but an important growth engine for the LG Group.
Today solar manufacturing across the world is going through a consolidation phase. A similar consolidation occurred in TV manufacturing 20 years ago. From a field of 20 plus TV companies only a handful manufacture flat panel TVs today. LG is one of those leaders. We believe that solar will follow a similar scenario. Over the next three years LG is embarking on a strategic expansion of its solar manufacturing capacity in order to increase efficiencies and offer a wider product range.