LG Electronics has been named a Thomson Reuters 2011 Top 100 Global Innovator, recognized for its achievements as one of the world’s most innovative companies. In developing the list of Top 100 Global Innovators, Thomson Reuters, a leading provider of intellectual property solutions and information, analyzes patent data and related metrics in a proprietary methodology to scientifically identify the most influential organizations globally.
The Thomson Reuters 2011 Top Global Innovators program evaluates performance in three areas: companies that invent on a significant scale work on developments that are acknowledged as innovative by others around the world, and whose inventions are globally protected due to their importance.
According to George Mudhune, LG’s Head of Marketing and Communications, East and Central Africa, the Award sets precedence for LG Electronics as one of the most innovative and creative companies globally:
“Our innovation has been customer centric and ensuring our products meets customer experience, satisfaction and value for money. Over the years, LG has been investing strategically in research and development to give our customers the best.”
In September 2011, LG was named by Jeffries & Co., a global securities and investment banking group, as the world leader in LTE patents. This finding was based on the company’s analysis of 1,400 LTE patents that the investment bank categorized as “essential.” LG’s LTE patents accounted for 23 percent of the 1,400 patents. Jeffries & Co.’s report clearly singled out LG’s unrivalled leadership in LTE technology which was valued by the bank at nearly USD 8 billion.
Thomson Reuters Derwent World Patents Index (DWPI), Derwent Patents Citations Index, Quadrilateral Patent Index, and Thomson Innovation, the IP and intelligence collaboration platform were used to carefully analyze patent data for the Thomson Reuters 2011 Top 100 Global Innovators program. Comparative analysis was done using the Thomson Reuters Eikon platform, the single source for turning financial information into action.
To view the full report on the Thomson Reuters Top 100 Global Innovator program, go to here.
“Innovation is a means of growth and prosperity for companies seeking to overcome sluggish economies and achieve competitive advantages,” said David Brown, president of the IP Solutions business of Thomson Reuters. “We salute the Thomson Reuters 2011 Top 100 Global Innovator companies and their leaders for the innovative spirit they foster and their commitment to protecting intellectual assets.”
The top innovators had various unique aspects. They added 400,087 new jobs over the past year; are geographically dispersed with 40 per cent from the U.S, 31 per cent from Asia and 29 per cent from Europe; had an increase in revenue year over year with 69% of the organizations experiencing growth and outperformed the S&P 500 year-over-year for majority of industries represented.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 93,000 people working in over 120 operations around the world. With 2010 global sales of $ 48.2 billion, LG comprises four business units – Home Entertainment, Mobile Communications, Home Appliance, and Air Conditioning & Energy Solutions. LG is one of the world’s leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators. For more information, please visit the website