LG have been named the 7^th most innovative company in Business Week magazine’s annual “50 Most Innovative Companies” story. In last years poll LG came in at 27^th, so this is an impressive increase of 20 places in one year, placing LG ahead of any of their main competitors.

With a circulation of just under one million and a history dating back to its first issue in 1929, this is a big accolade from a well-known and respected publication.

LG is being recognized for their innovations not only in their products, but also within the company structure.

Over the last year LG have restructured their centralization of purchases, saving over $2 billion from its annual $30 billion shopping bill. “Innovation could bring sustainable savings,” says Thomas Linton, a 20-year IBM (IBM) veteran purchasing manager who became LG’s first-ever chief procurement officer in 2008.

Whilst we’re on the subject of innovation here’s a little light-hearted video showing  just one innovation that LG brought us last year…

For more info on the BL40 Chocolate phone follow the link here