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Press Release

05/25/2005

LG ELECTRONICS RECEIVES BEST BUY'S BRAVO! AWARD

Consumer Electronics Industry Leader Honored As 'Best-in-Breed' in Digital Audio/Video Category

Consumer Electronics Industry Leader Honored As 'Best-in-Breed' in Digital Audio/Video Category


ENGLEWOOD CLIFFS, N.J., May 25, 2005  Expanding on its rapid growth as a leader in the United States home entertainment market, LG Electronics U.S.A., Inc. today has been honored by Best Buy with a prestigious 2005 BRAVO! Award. Recognized for the company's dedication, technological excellence and product manufacturing and supply chain management prowess within the digital audio and video categories, this award was presented to LG's dedicated executive leaders and senior sales management team last night at a private reception.

This award also recognizes LG Electronics successful and growing partnership with Best Buy, as one of the leading retailer's premium suppliers of home entertainment, A/V products, such as Advanced Television System Committee (ATSC) set box units, DVD/VCR combination units, DVD Recorders, and DVD players. In fact, Best Buy sold a record number of LG's premium DVD recorders in just 2004 alone.

"In the past year we not only have implemented an innovative, new supply chain system, but made every effort to enhance our partnership with Best Buy," said J.M. Lee, LG Electronics'  president of the digital display/digital media CE brand division. "We are honored that Best Buy recognized our achievements and look forward to another successful year."

Now in its sixth year, Best Buy's BRAVO! Award program recognizes vendors, partners and suppliers whose outstanding work exceeds expectations and achieves superior results. An award committee within Best Buy reviews all nominations and selects winners for each business category. Judges consider a multitude of factors when determining winners, including honesty, willingness to work as partners, overall responsiveness, technology leadership as well as speed to market. Including LG, 21 other companies representing 18 business categories received a 2005 Best Buy BRAVO! Award.

"LG Electronics commitment to providing innovative and exciting new DVD product made them an obvious choice to win the Bravo Award this year." Chris Koller, Business Team Leader, said. "Their focus on collaboration in product design and supply chain allowed us to offer our customers unique product in this area."

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