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LG makes major comeback

A model shows LG’s “Optimus G Pro” smartphone at the product’s recent launch event in the United States.  / Courtesy of LG ElectronicsFirm improves profit in TVs, smartphonesKwon Hee-wonLG’s TV chiefPark Jong-seokLG’s mobile chiefBy Kim Yoo-chulLG Electronics has made a major comeback in televisions and smartphones ― two critical cash-generating sources. A senior company executive said its home entertainment unit led by President Kwon Hee-won is the main reason for the comeback. The firm is the world’s second-biggest TV manufacturer.“We expect to see an increased profit margin in the second quarter as more demand for LG’s premium TVs and lower costs help us improve our bottom line,” said LG Electronics CFO Jung Do-hyun.The CFO said the Yeouido-headquartered outfit is going to release more TV models with affordable pricing. “We will try hard to boost the return on investment by spending more on new product releases. LG will gain more market share,” Jung said in a recent meeting with institutional investo

May 30, 2013By Kim Yoo-chul
LG makes major comeback
Tech & Science

Home plus chairman to lead study in US

Lee Seung-hanBy Kim Yoo-chulHome plus Chairman Lee Seung-han will fly to the United States in June to lead a study on “creative management” at Boston University.At a meeting with reporters, the chief of the nation’s second largest discount retailer owned by British retail chain Tesco said that the U.S. university invited him as a visiting professor to create a management theory on creative leadership and innovative management system.Lee, who will also serve as Executive in Resident (EIR) there, will be the leader of the research project, which was organized to commemorate the 100th anniversary, the university.EIR is the title given to a business leader recognized for his or her creative entrepreneurship and leadership.Lee will run roundtable sessions for 100 days from June, through which he will conduct a joint study with business gurus and deliver a lecture to business school students.“We know how to send messages. However, we don’t know how to organize messages and how to execute them. Based on my 44-year experience in management, I will try to encoura

May 29, 2013By Kim Yoo-chul
Home plus chairman to lead study in US
Tech & Science

LG Chem inks battery deal in US

By Kim Yoo-chulLG Chem, the world’s top supplier of lithium-ion batteries, said Wednesday that it has signed a contract with Southern California Edison (SCE) in what officials claim is “one of the most significant business deal” in the company’s battery-making history.Under the contract, LG Chem will supply its lithium-ion battery packs to the American utility customer for an energy storage pilot project for homes and small businesses.LG’s lithium-ion packs will be used in SCE-managed energy storage systems (ESS), core component to improve energy efficiency in smart grids. By the end of this year, the LG Group affiliate will provide its lithium battery packs for a project at the Tehachapi wind-power complex in California. Through close collaboration with SCE, LG will supply the project up to 2015, said C.S. Song, a spokesman of LG Chem, Wednesday.“The ESS managed by SCE is the biggest in North America with the electricity substation supplying 32 megawatts per hour, which provides 100 households with use electricity for a month,” said the spok

May 29, 2013By Kim Yoo-chul
Tech & Science

Samsung's arduous change pays off

By Kim Yoo-chulGalaxy S4Samsung Electronics' main office in Seocho-dong, southern Seoul Courtesy of Samsung ElectronicsOver the last decades, Samsung Electronics has been regarded as a “fast-follower” following leaders in technology businesses that the outfit is involved with.As Samsung is still heavily dependent upon quite cyclical and more volatile component businesses, conventional thought was that Samsung isn’t positioned to produce “wow” products that can shake up the market.Mentioning Samsung’s indisputable position ― top suppliers in memory chips and flat-screens ― Samsung was being treated as just a trusted parts supplier guaranteeing on-time delivery, better pricing and output commitment.But those thoughts were too old-fashioned as the firm has been heading to transform itself as a corporate that can surprise the world by releasing striking digital devices, consistently.“You should always have a sense of crisis. I urge you to run faster and always study to have insights. You should have a long vision. You shouldn’t be

May 28, 2013By Kim Yoo-chul
Samsung's arduous change pays off
  • Innovation powers Samsung's success
Tech & Science

Innovation powers Samsung's success

A 4.5-inch flexible OLED display developed by Samsung Display/ Courtesy of Samsung DisplayKorean tech giant has no ‘Apple risk’ on internal partsBy Kim Yoo-chulMark C. Newman, Sanford C. Bernstein senior analystInnovation and execution are two key drivers for Samsung Electronics to beat its rivals and emerge as a global technology leader, according to a noted technology expert from Wall Street.He said the scale, execution and technology of the Korean technology powerhouse make it more powerful. “Without a doubt, Samsung has long been an innovator. No company comes close to Samsung in its broad technology internalization and seamless execution, thus enabling Samsung to surpass competitors in incremental innovations,” said Mark C. Newman, a senior analyst at Sanford C. Bernstein, in an exclusive interview with The Korea Times, Tuesday.It is the first time Bernstein, the sell-side research division of AllianceBernstein, has done an interview with the Korean media. Bernstein has offices in New York, Los Angeles, London, Stockholm, Zurich and Hong Kong, facili

May 28, 2013By Kim Yoo-chul
Innovation powers Samsung's success
  • Samsung's arduous change pays off
Tech & Science

LSIS moves to win more electricity deals in Iraq

By Kim Yoo-chulLS Industrial Systems (LSIS), the nation’s top provider of smart grids-related solutions, is expanding its business in Iraq supported by the government there.“Over the last two years, LSIS has secured over $350 million in deals in Iraq, mostly from power transmission and transmission control. As we are positioned to expand our business in Iraq, LSIS will win more orders from the Iraqi government in electricity infrastructure projects,” said company spokesman Kim Dae-seong, Monday.Kim said LSIS Vice Chairman and CEO Koo Ja-kyun recently invited senior government officials at the Ministry of Electricity in Iraq including Minister Kareem Aftan to visit Korea.The Iraqi delegation inspected LSIS’s key manufacturing lines and were briefed by company executives over details of its patented solutions and how those solutions work with systems.The minister toured LSIS’s facility in Cheongju, on May 20; and inspected demonstration sites that use LSIS-provided smart grid solutions on the resort island of Jeju, while they also visited the company&rsquo

May 27, 2013By Kim Yoo-chul
Tech & Science

Samsung may buy shipyard in Brazil

By Kim Yoo-chulSamsung Heavy Industries, the world’s second-biggest shipyard by sales, plans to buy a shipyard in Brazil to bolster its presence in South America’s biggest economy, financial analyst and sources familiar with the issue said, Monday.“The Brazilian government has interests in seeking the revival of its ailing shipbuilding industry by letting foreign companies but stakes. Samsung Heavy is one of the few that are planning to buy a controlling stake in a troubled Brazilian shipyard,” said a senior fund manager.“Samsung Heavy recently launched a taskforce to find a right target at affordable prices. It has approached one or two shipbuilders in Brazil. Given Samsung Electronics’ consistent investment in the country, the Brazilian government is expected to support Samsung Heavy,” said an official at a Samsung affiliate.He said Samsung will invite strategic investors, if needed, to hedge the investment risks for the projects worth billions of dollars and added the Korean firm will possibly team up with other partners, there, for mutual

May 27, 2013By Kim Yoo-chul
Tech & Science

US congress pressures ITC over Samsung-Apple case

By Kim Yoo-chulU.S. Congress has allegedly meddled in the current patent dispute between Apple and Samsung, ostensibly in favor of Apple ahead of a key patent dispute ruling. Congress sent a letter calling for the International Trade Commission (ITC) to take public interest into consideration when making a final ruling over an allegation of Apple’s willful infringement of some Samsung patents.The move is widely seen as a sensitive one, given that it is barely a week to the much anticipated ITC’s final ruling on the Samsung-Apple patent dispute on May 31.The dispute in question is about “standard-essential patents.” ITC is the quasi-government agency of the United States.“In June of last year, several of us wrote to Chairman Okun with regard to the availability of the exclusion order as a remedy for cases in which ‘standard-essential patents’ (SEPs) are asserted,” said a letter sent by four U.S. Senators to ITC Commissioner Irving Williamson on May 21.“We write today to reiterate our request that the Commission carefully assess the

May 24, 2013By Kim Yoo-chul
Tech & Science

LG to expand Google TV lineup

LG Electronics TV chief Kwon Hee-won delivers a keynote speech at the 2013 Digital Cable TV Show on the southern resort island of Jeju, Friday. Courtesy of LG ElectronicsTop TV manufacturers to foster UHD TV marketBy Kim Yoo-chulLG Electronics plans to expand its television lineup that uses the Google Android platform as its alliance with the U.S. search giant generates tangible returns, said a senior company executive, Friday.LG is currently the only company manufacturing TVs with built-in Google software. The company expects sales of its lineup of Google TVs to rise sharply.“LG is currently selling Google TVs in the United States. As the collaboration has been effective to increase our brand awareness and has been yielding good returns, LG plans to roll out more models in more countries,” the LG executive said at the Digital Cable TV Show on the southern resort island of Jeju.The executive, who asked not to be identified, said its Google TVs were selling an average of 10,000 units per month in the United States. “Consumers in Korea will see Google T

May 24, 2013By Kim Yoo-chul
Tech & Science

Google Glass to use Samsung's OLED

By Kim Yoo-chulGoogle will use Samsung Display’s organic light-emitting diode (OLED) technology in its upcoming Google Glass, a wearable computer with a head-mounted display, sources said Thursday. The sources said that the company’s top management has recently approved a business proposal by Samsung Display to use its OLED screens for Google Glass. “Samsung will supply its high-end OLED screens for Google Glass. This is a really big thing because its means that Google shares confidential data with Samsung on its futuristic projects,” said an executive at one of Samsung Display’s local parts suppliers.Google Glass is the U.S. heavyweight’s ambitious project aimed at producing a mass-market ubiquitous computer. Google said the device, which is currently being tested by developers, will be launched later this year at the earliest.“Google treats Samsung as a very serious business partner as the latter has proven its capability in its parts-related businesses. The decision will help Samsung further boost its OLED business,” said an official

May 23, 2013By Kim Yoo-chul
Google Glass to use Samsung's OLED
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