The company is currently comprised of four business segments: Home Entertainment, Mobile Communication, Home Appliance & Air Solution, and Vehicle Components. LG’s Home Appliance & Air Solution segment alone generated over 17 billion U.S. dollars in revenue in 2018, making it LG’s largest business segment, followed by Home Entertainment, which also brought in well over 10 billion dollars in revenue. In that same year, LG Electronics also maintained its position as one of the largest manufacturers of LCD TVs. Smartphones are also an important part of LG Electronics’ product portfolio as the company sold 55.7 million units worldwide in 2017, a share of about two percent of the global smartphone market.
In the domestic market, LGs biggest competitor is Samsung Electronics, a similar Korean consumer electronics giant which focuses on many of the same products. Both companies have highly competitive product lines across a variety of appliances, such as refrigerators, washing machines, and air conditioners. The high level of competition that exists in their own domestic market ensures that both companies are prepared for the highly competitive international markets.