LG Electronics tops Business Week's INFO TECH 100 list

The results, to be printed in the June 21 edition of Business Week, have been generated from Standard & Poors financial data evaluating companies according to four criteria: Total Revenues, Revenue Growth, Return On Equity, and Shareholder Return.

LG's success in achieving top spot is being attributed to its rapid growth in core business areas like mobile phones, Plasma Display Panels (PDP) and LCD TVs, and active brand marketing in North America and Europe.

"This is a remarkable achievement for a company that believes in being at the forefront of technology by continuously investing billions of dollars in research and development," said Mr. K.H. Kim, President of LG Electronics Middle East and Africa. "Over the years, LG has accumulated expertise in core technologies like PDP, LCD, 3G mobiles and smart appliances. This award is a result of concerted efforts by our human resources and keen attention by our management to position LG as the top tier tech-company."

The INFO TECH 100 list is an annual event conducted by Business Week based on 10,000 publicly traded corporations. The number one positioning shows a remarkable leap from the company's 2003 positioning of 67.

Mr. K.H Kim added: "This effort is equally met at regional level with LG meeting the requirements of local demand. Our quarter one results showed global GSM unit growth jumped 148 per cent on-year due to increased shipments to countries including the Middle East. This is reflected in the launch of 11 mobile phones in the last 12 months in the region.

"Additionally, regionally we have continued to expand our popular product ranges including the recent launch of the new Hurricane PDP as well as the new 48-inch LCD Wide Projection TV."

Two other Korean companies made the list, Samsung Electronics in 11th place and SK Telecom in 23rd. Notably absent from the list was Nokia and Sony. For more information log on to: www.business-week.com/magazine/it100.