LG - and they will do it again

We are not sure how many will still remember the brandname "Goldstar". This was back in the 1980s and beginning 1990s, and products such as television from this company were mainly bought when one needed something cheap, which also came, well, with lower quality.

Than, towards the end of the decade, the company decided to go upstream - and started to rebrand themselves successfully into LG.

It was doing it so successfully that it was voted to the top slot of Information Technology 100 companies list.

Another sign of success might be that the company "found out that between January 2003 and October 2004 more than 200 companies operating under the name "LG.""

Their ambitions grow higher now and it might also be inspired by the greatness of the great competitor, Samsung Electronics.

They now intend to be known as a household brand in both Korea and the world and to do this, they have formed "a brand management committee that will oversee a wide range of activities from brand renovations to stepping up vigilance against fraudulent use of their trademarks."

But for a company that makes the point to celebrate its employees, changes business models and has successfully undertaken a rebranding before, this shouldn't be major challenge.

(By Asia Business Consulting)