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4-Traders Homepage  >  Equities  >  Deutsche Boerse AG  >  LG Electronics Inc.    LGLG

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LG ELEC GDR'REGS'/ : PRADA AND LG SIGN EXCLUSIVE AGREEMENT CEMENTING PARTNERSHIP 2011-11-24

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11/24/2011 | 03:45am CET

SEOUL, Nov. 24, 2011 -- PRADA and LG Electronics (LG) today renewed their exclusivemobile phone partnership at a signing ceremony in Seoul, Korea. Building on this partnership'sprevious success, the two companies will develop the PRADA phone by LG 3.0, for launch in early2012.

Under this partnership, LG will be PRADA's exclusive mobile phone partner. The collaboration,which began in 2006 and resulted in two premium mobile phones being introduced in 2007 and2008, focuses on key elements within the smartphone, including software and user interface downto its design and packaging.

"The partnership between Prada and LG has always been characterised by an innovativeapproach and uncompromised quality of style, design and breakthrough technology," said Mr.Patrizio Bertelli, CEO of PRADA Group. "These values are common to both our brands, whichhave always anticipated, and often set, the trends in many fields. We were therefore delighted tocooperate again with LG in the development of the latest creation of the mobile communicationindustry."

"Our working relationship with PRADA is unique in its longevity and success, something noother phone company and luxury brand have been able to replicate," said Dr. Jong-seok Park,President and CEO of LG Electronics Mobile Communications Company. "Having successfullylaunched two PRADA phones by LG, we look forward to collaborating further to develop premiumhandsets with a strong identity and the most sophisticated style."

The PRADA phone by LG 1.0, a pioneer in the mobile phone space, was an unqualified success,selling over one million units. This premium handset combined high-end technology with a designembodying superior style. As evidence of its place in design history, the PRADA phone by LG 1.0is part of the permanent collection in New York City's Museum of Modern Art (MoMA) and theMuseum of Contemporary Art (MOCA) in Shanghai.

The PRADA phones by LG were avant-garde in the technology they offered to users. ThePRADA phone by LG 1.0 was the world's first touchscreen mobile phone, and the 2.0 provided aninnovative mobile experience through its unique watch with Link technology, which allowed foreasy access to caller ID, SMS text messages, call history, call block and two-way alarm notification.

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Financials ( KRW)
Sales 2016 54 716 B
EBIT 2016 1 563 B
Net income 2016 532 B
Debt 2016 6 017 B
Yield 2016 0,88%
P/E ratio 2016 16,38
P/E ratio 2017 9,78
EV / Sales 2016 0,26x
EV / Sales 2017 0,25x
Capitalization 8 259 376 M
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Average target price 59 526  KRW
Spread / Average Target 24%
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NameTitle
Seong-Jin Jo Chief Executive Officer
David Jung President, Chief Financial Officer & Director
Jong-Sik Kim COO & President-Executive Board
Skott Ahn President-Executive Board & CTO
Chong-Nam Chu Outside Director
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1st jan.Capitalization (M$)
LG ELECTRONICS INC.-13.27%7 054
SONY CORP13.86%36 890
PANASONIC CORPORATION4.36%27 216
SHARP CORPORATION97.62%10 759
LG CORP--.--%8 774
LG ELECTRONICS INC.--.--%7 054
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