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Key Developments: LG Electronics Inc (066575.KS)

066575.KS on Korea Stock Exchange

4 May 2016
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Latest Key Developments (Source: Significant Developments)

LG Electronics announces appointment of co-CEO
Friday, 18 Mar 2016 03:34am EDT 

LG Electronics Inc:The change of co-chief executive officers (Co-CEO) from Gu Bon Jun to Jo Jun Ho and Jo Seong Jin, effective March 18.Jeong Do Hyeon still serves as co-CEO in the company as well.  Full Article

LG Electronics declares annual cash dividend for 2015
Friday, 29 Jan 2016 02:55am EST 

LG Electronics Inc:To pay annual cash dividend of 400 won per share of common stock and 450 won per share of preferred stock for 2015.Dividend payment to shareholders of record on Dec. 31, 2015.Total dividend amount of 72,885,443,100 won.  Full Article

LG Electronics Inc - EU regulator hands out 116 mln euros cartel fine for disc drive makers - Reuters
Wednesday, 21 Oct 2015 12:39am EDT 

LG Electronics Inc:The European Commission has handed out a 116 million euros ($131.73 million) fine to producers of optical disc drives, having found them guilty of colluding on price - RTRS.The Commission, which acts as the competition watchdog in the 28-member European Union, said the largest fine of 41.3 million euros was for a joint venture of Toshiba and Samsung Electronics, while Sony 6758.T, Hitachi-LG Data Storage and Quanta Storage were also fined - RTRS."The anticompetitive conduct subject to fines in this case concerns agreements to collude in procurement tenders for optical disk drives for laptops and desktops produced by Dell and Hewlett Packard (HP)," the Commission said in a statement - RTRS.Philips and its joint venture partner Lite-On were also found guilty but not fined because they had alerted regulators to the cartel, the Commission added - RTRS."Millions of EU citizens use devices integrating optical disc drives all the time, for example when storing their favourite pictures on a disc.Keeping these markets competitive is important," European Competition Commissioner Margrethe Vestager said - RTRS."Today's decision demonstrates once again that cartelists cannot escape fines just by holding their meetings in cinemas and car parks outside Europe, while selling their products in Europe," she continued - RTRS.  Full Article

Netlist and LG Electronics to actively cooperate on development of HyperVault Mobile Memory Controller
Tuesday, 28 Apr 2015 07:30am EDT 

Netlist Inc:Enters into letter of intent (LOI) with LG Electronics, Inc. (LG) to jointly work on a HyperVault Mobile Memory Controller (HVMMC) with the intention of adopting HVMMC on a next generation mobile system of LG Electronics.Under the LOI, it is expected that Netlist and LG would combine the strengths of both companies to actively cooperate to build superior mobile memory controller for smart phones.The new HVMMC would benefit the end user by allowing a mobile system to reduce DRAM density, and therefore lower costs, without loss of system performance.The worldwide shipment of smartphones is anticipated to reach 1.9 billion units by 2018 according to forecasts by CCS Insight.It is expected that a growing share of those units will use a minimum of 3GB of DRAM or above.  Full Article

Samsung Electronics Co Ltd and LG Electronics call off washer spat - Reuters
Tuesday, 31 Mar 2015 02:23am EDT 

Samsung Electronics Co Ltd and LG Electronics Inc:Agrees to call off all their legal disputes including a bitter months-long conflict over a set of damaged washing machines - Reuters.The two companies said in a joint statement they would withdraw all complaints against each other and ask legal authorities to refrain from meting out harsh punishments in ongoing cases.Both sides have agreed to avoid legal action and resolve any future conflicts or disputes through dialogue and mutual agreement, the companies said.The agreement extends to Samsung Electronics subsidiary Samsung Display and to LG Display Co Ltd.  Full Article

LG Electronics Inc executive indicted over damaged Samsung washers - Reuters
Sunday, 15 Feb 2015 07:36am EST 

LG Electronics Inc:LG Electronics Inc's home appliances chief has been indicted on a charge of deliberately damaging Samsung Electronics Co Ltd washing machines - Reuters.Jo Seong-jin and two other employees were indicted by local prosecutors.The indictment against LG's appliances chief follows months of investigation.Samsung filed an official complaint in September, accusing Jo and other LG employees of deliberately damaging Samsung washers at retail stores in Germany.LG had agreed to pay for what it called accidental damage to four machines after mediation by German authorities.Separately on Feb 15, Samsung Electronics subsidiary Samsung Display said that four of its employees were indicted on Feb 13 on charges of stealing organic light-emitting diode (OLED) display panel technology from LG Electronics affiliate LG Display Co Ltd.The Samsung Display employees have been accused of illegally obtaining the information from an LG Display contractor.  Full Article

LG Electronics Inc gives Q1 2015 guidance - Conference call
Thursday, 29 Jan 2015 08:00am EST 

LG Electronics Inc:Expects Q1 2015 revenue to increase by mid-single digit compared to previous year for first quarter.Says that however, profitability is expected to decline compared to last year, mainly due to weaker margins from home entertainment division as a result of unfavorable FX movements.Q1 2015 revenue of 14.505 billion won - Thomson Reuters I/B/E/S.Q1 2015 net income of $233.15 million won - Thomson Reuters I/B/E/S.  Full Article

LG Electronics declares annual cash dividend for 2014
Wednesday, 28 Jan 2015 03:09am EST 

LG Electronics Inc:To pay annual cash dividend of 400 won per share of common stock and 450 own per share of preferred stock, to shareholders of record on Dec. 31, for 2014.Total dividend amount of 72,885,443,500 won.  Full Article

LG Electronics Inc and Google Inc enters into global patent license agreement
Tuesday, 4 Nov 2014 07:00pm EST 

LG Electronics Inc and Google Inc:Says that it has entered into a long term patent cross-licensing agreement covering a broad range of products and technologies.Says the agreement covers the two companies' existing patents as well as those filed over the next 10 years.  Full Article

LG Electronics Inc gives Q3 2014 revenue guidance below analysts' estimates - Conference Call
Thursday, 24 Jul 2014 09:00pm EDT 

LG Electronics Inc:Expects Q3 2014 revenue to increase by high single digits, compared to the previous year.Reported revenue of 13.892 billion won in Q3 2013.Q3 2014 revenue of 15.314 billion won - Thomson Reuters I/B/E/S.  Full Article

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