Company to invest deeper into marketing.
The global corporate communications account for LG Electronics, which is presently managed by LG-One, is under review. The communications audit, which takes place every three years, is being run by procurement with no support from an outside search firm, according to senior director-global communications at LG Electronics, Ken Hong,
He has told global media that the company hopes that LG-One, composed of Ogilvy PR and Hill & Knowlton Strategies, pitches for the business. The team has worked on the account since 2009.
Hong has said that the company’s budget for communications is “significant” and that the work includes the top 80% of LG’s revenue-generating markets. Hong added that LG is investing more in marketing this year, which is “trickling down into communications.”
In January, LG Electronics reported a 27% increase in operating profit for the fourth quarter of 2015, year-over-year. The jump was attributed to TV and home appliances sales. However, due to competition from the likes of Apple and Samsung, the South Korean company posted an operating loss for its mobile phone division in the quarter.