Strategy in TECH...
LG Electronics Inc. is on a roll, as evidenced by their fiscal third quarter results. The company says it has set an all-time record for third quarter revenues while at the same time booking their best quarterly profit in a decade.
Fortune just published its latest Global 500 ranking of the top companies in the world – and the results this year are earth-shaking. For the first time ever, since this list was launched in 1990, another country has more companies on the list of top companies than the U.S. And the bad news for the White House is that new #1 is China, the country with which it is currently in the midst of a high stakes trade war.
LG Electronics Inc., a leading manufacturer in a diverse range of businesses, announced their fiscal 2019 first quarter results this week. With consolidated sales of KRW (Korean won) 14.92 trillion ($13.27 billion) and an operating profit of KRW 900.6 billion ($801.25 million), the company showed respectable numbers, but those results that represented a decline for the quarter.
There’s been a lot of action this week on the OLED beat – in this case, news that holds promise for a new robust competitor in the OLED market. The company, known as JOLED (for Japan OLED), is a joint venture between two TV powerhouse brands and a major display manufacturer that has successfully raised money to complete a new OLED factory.
Like many countries, Japan is facing a dramatic shortage in the number of available high-tech workers. To address this situation, the country has decided to make computer programming classes mandatory for all students, starting in elementary school. Students will be mandated to study coding for their entire educational experience, every year from 5th grade through high school graduation in the hopes of filling the high-tech worker shortfall and catching up with the rest of the world.
Global competition continues to heat up and nowhere is that more obvious than a recent analysis from the World Intellectual Property Organization noting that in 2018 – for the first time in human history – the region of Asia filed the majority of all international patent applications. This new reality suggests that Asia is “rapidly increasing their presence in global innovation,” the report says.
And which company in particular was tops in the world for innovation? WIPO says it was Huawei Technologies, who filed the most patents from a single company in the world.
At the urging the industry minister of Japan, the country’s Fair Trade Commission will look at a new program announced by Amazon Japan that some suggest may be anti-competitive in nature. Depending on the Commission’s findings, Amazon may be forced to abandon the idea, which is a form of a consumer rebate program.
We learned today that Bowers and Wilkins (B&W) is close to launching a new series of products that appear to be under the “Formation” brand or series name. This news broke when MacRumors, a fan blog for aficionados of Apples McIntosh products, noticed a listing on Apple’s online list of sanctioned HomeKit and AirPlay accessories. They dug deeper…
The headline caught my attention immediately – “Exclusive: Foxconn reconsidering plans to make LCD panels at Wisconsin plant.” This story, from the highly respected Reuters News Agency, follows a series of articles on Foxconn’s growing business struggles in the wake of a decline in sales to Apple. But it immediately raised a red flag with me…
We have followed Foxconn for years now, first picking up on them in 2012 when news had emerged that a significant Apple supplier was having problems with employees committing suicide – eventually forcing the company to install ‘suicide nets’ on their taller factories and offices to help thwart further suicide attempts. Foxconn has continued on to become one of Apple, Inc.’s largest iPhone supplier of parts and assembly.
