LG was originally established in 1958 as GoldStar, producing home theatres, TVs, refrigerators, washing machines, and air conditioners. The LG Group was formed from the merger of two Korean companies, Lucky and GoldStar, from which the abbreviation of LG was derived. The current “Life’s Good” slogan is a backronym. Before the corporate name change to LG, household products were sold under the brand name of Lucky, while electronic products were sold under the brand name of GoldStar. In Nigeria, LG Electronics have become a trusted brand in the electronics market.