LG Electronics announced strategic changes to the company’s structure, effective January 1.

At the core of LG’s reorganisation is an increase in its focus on business solutions for tomorrow’s challenging environment. The company’s business portfolio has been restructured to maximise growth potential in existing businesses while at the same time fully developing new ones.

“Our business will be perfectly positioned to address tomorrow’s challenges as a result of these changes,” said Yong Nam, vice chairman and chief of LG Electronics.

“This strategy will enable us to capture even more of the ever-expanding commercial market. It will also help LG expand the value chain from device (hardware) to solutions and allow us to better address the lifestyle needs of our current and future customers.”

In addition to the changes to the company’s business units, Nam also appointed or promoted 48 new executives as part of his sweeping plan to position LG for long-term business success.

The highlight of the revamp program is a realignment of the company’s four traditional business units – digital appliance, digital display, digital media and mobile communications – into a new structure that includes mobile communications and four completely new units – home entertainment, home appliance, air conditioning and business solutions, he explained.-TradeArabia News Service