LG Electronics has announced organizational changes that reflect a strategic move towards realizing its Future Vision 2030, announced in July.
The establishment of the Overseas Sales and Marketing Company, reporting directly to LG’s CEO William Cho, is a notable development. The Company will be led by Thomas Yoon, former president and CEO of LG Electronics North America. This change signifies LG’s commitment to strengthening its global presence and brand power.
For Kenyan consumers, this shift emphasizes LG’s dedication to becoming a smart life solution company that goes beyond home appliances. The Overseas Sales and Marketing Company’s role in managing sales subsidiaries in various regions, including Asia and Africa, increases the opportunity for consumers in the region to access more LG products and innovations.
Simultaneously, the Business Solutions company expands its sales and business operations in major regions such as North America, Europe, Central Asia, Asia, and Latin America. This expansion strengthens LG’s executive capabilities in the overseas operations of strategically critical businesses including B2B operations, in addition to providing the necessary support to bolster the qualitative growth of all other business units by aiding the development of overseas sales expertise as well as accelerating the advancement of platform-based businesses and innovative Direct to Consumers (D2C) business models.
The focus on accelerating growth and enhancing global brand power aligns with Kenya’s growing tech-savvy population, creating opportunities for LG to connect with consumers in diverse spaces. The D2C Business Group will expand customer contact points by strengthening Online Brand Shop (OBS) activities and customer data-based digital marketing capabilities, recognizing the importance of e-commerce, a growing trend in Kenya.
Meanwhile, an Engineering Sales Division will be established under the Air Solutions Business in the Home Appliance & Air Solution Company maximizing business synergy in the heating, ventilation, and air conditioning (HVAC) business. Given Kenya’s climate and the increasing need for sustainable energy solutions, this move is particularly relevant in increasing the options available to consumers.
Under the Home Entertainment (HE) Company, the webOS SW Development Group will be established for direct reporting to Park Hyoung-sei, president of the HE Company. The extended Reality (XR) Business Division will also be established directly under the headquarters. These transformations are expected to expand LG’s ambitions of becoming a media and entertainment powerhouse, aligning with Kenya’s vibrant entertainment industry.
Finally, the Vehicle Component Solutions Company will set up the Global Customer Strategy Division directly under its headquarters to establish an integrated strategy for order and sales management and strengthen marketing functions to accelerate the growth of the business. This is especially relevant to Kenya, where a vibrant shift is taking place in the transportation industry, including the rise of home-grown vehicle manufacturers, who will constantly require vehicle component solutions.
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