Corporate Fact Sheet and Backgrounder
World’s largest supplier of television and monitor tubes
|President and CEO||:||Jeong Il Son|
|Deputy CEO and CFO||:||Peter van Bommel|
|Worldwide Operational HQ||:||Hong Kong|
|Annual Sales, 2003||:||About USD 4 Billion|
|Worldwide Market Share, 2003||:||Approximately 27%|
|No. of Factories Worldwide, 2003||:||23|
|Employees Worldwide, 2003||:||About 27,000|
|Market Leadership||:||Europe, the Americas and Asia|
A World Leader
With about 27,000 employees and annual sales of an estimated USD4 billion as of end-2003, LG.Philips Displays is the world’s largest supplier of television and monitor tubes operating 23 factories globally. The company produces one in every four television and computer monitor tubes sold and enjoys market leadership in Europe, the Americas and Asia, including the important high-growth market, China.
The Company was formed in 2001 when Royal Philips Electronics of the Netherlands and Korea’s LG Electronics merged their respective Cathode Ray Tube (CRT) businesses. The joint venture, which is legally established in the Netherlands, has its operational headquarters in Hong Kong. LG.Philips Displays selected Hong Kong as its international headquarters because of its status as an international business hub along with its close proximity to China and other key markets. About 100 staff now work at the operational headquarters.
Leading the merged entity are Jeong Il Son, President and CEO, and Peter van Bommel, Deputy CEO and CFO, who are successfully bringing together the company’s multicultural workforce into one solid joint venture.
LG.Philips Displays benefits from the complementary strengths of the two mother companies: Philips’ leadership in television tubes, and LG’s leadership in monitor tubes; LG’s geographical leadership in Asia, and Philips’ strength in Europe, China, and the Americas; LG’s industrial and manufacturing expertise and Philips’ global marketing and technological innovation. Synergies in innovation, manufacturing and geography, enable LG.Philips Displays to deliver better displays to its customers in every corner of the world, faster than ever before.
CRT remains a major display technology and offers the absolute best price and picture performance in the market today. LG.Philips Displays’ CRTs are flat, slim and high-definition and are competing excellently with new display technologies.
Our customers are global set- and monitor-making companies.