Can We Learn Re-Invention Lesson From LG Success Story in U.S.

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Amazing: 3 attempts in four years, it took for LG, in 2002, to launch its brand in the US market and today it's the top seller of refrigerators and washing machines with 24 percent market share.

"Today, some 95 per cent of American consumers view LG as a premium foreign consumer electronics brand, lagging only behind Sony in terms of brand recognition, according to a survey commissioned by LG last year. But as recently as the late 1990s, the company had marketed its products under the Goldstar brand, which American consumers viewed as low quality. To establish a premium brand image and achieve a broader penetration of the US market, the company re-launched its products under the LGE brand in 2002."

Can we learn some lessons from LGA's success story -- in terms of re-invention?