Since 2012, LG has been engaged in a legal battle over its plan to build a new New York headquarters, because of concerns that the structure would block views of the famous Palisades rocky outcropping. The case has now come to an end, with a ruling in favor of LG, and the company says it will go ahead with the $300 million construction.
LG is the world’s second biggest maker of TVs after Samsung. Despite its size, the company recently reported an 8% slip in quarterly profits. One bright spot in the company’s financial report was its sales of smartphones, which were running at 31.2 million units versus analyst expectations of around 26.5 million.
The company recently released its top-rank phone, the G2, a bold effort to steal some of the enormous smartphone marketshare from Apple and Samsung. The G2 has been widely praised online and it’s clear that its future sales are critical to the company’s well-being. Can establishing an NYC head office help LG sell its phone to the all-important U.S. market?