According to senior executives, LG Australia are expanding their business display operation while aligning their various divisions with global operations. They are also set to announce new divisions, with insiders tipping a return to the PC and portable devices market as well as the Pro AV market.
Last month LG appointed William Cho, the former President and CEO of LG Canada, to take over the company's operations in Australia, following an exposure by Choice that LG had been using an illegal device in two of its refrigerators in order to make them look energy efficient. The Australian company is now facing a multi-million dollar fine following an investigation by the Australian Competition and Consumer Commission.
This financial penalty could drastically impact the Australian operations of LG, who last year only managed profits of $13,553, on revenues of $968 million.
In the 2007/2008 financial year, LG Australia had profits of $17,228 on revenues of $1.12 billion.
Graeme Cunningham, Director of Sales at LG Electronics, said, "We are currently restructuring our business in several areas. We are currently recruiting people and we are realigning several divisions in line with our global operations. We are expanding our commercial business division as we see growth in this market. We are currently looking to improve our account management structure and our State operations" he said.
LG, who will be the second major vendor to launch 3D TVs in Australia with a major role out of several new TV models in early May, is also set to be the sole 3D TV sponsor of the of the Nine Network's coverage of the NRL State of Origin series, which will be first ever broadcast of a major sporting event in Australia in 3D. The major sponsor of the event will be Harvey Norman who are set to ask vendors to fund their sponsorship.
