Consumer Electronics giant LG is conducting a media agency review, according to sources.
The company spent an estimated $400 million on ads in 2011. In the U.S., LG spent just over $75 million, according to research firm Kantar.
Mindshare is the incumbent on the LG media assignment, and it’s understood that the WPP media shop is defending in the current review. The agency declined to comment, referring calls to the client.
A U.S. LG rep referred queries to a corporate rep who didn’t immediately respond to an email seeking comment on the review.
The company consolidated its global media assignment with Mindshare in 2007. Around the same time, it selected Mindshare sister agency Young & Rubicam as its global creative agency.
Publicis Groupe’s Bartle Bogle Hegarty also joined the LG roster at that time to develop strategy, some creative work and marketing communications. BBH and LG have since parted ways.
At the time, LG's head of global brand marketing, Sung-Hun Han said the South Korea-based firm "couldn't be more pleased with our new agency partners," adding that they would collaborate on “developing one single powerful LG brand globally."
Last fall, LG made headlines with a viral hidden camera video that showed panic-stricken elevator riders reacting as their elevator car appeared to malfunction and the floor of the car seemed to crumble beneath their feet. The crumbling floor illusion was created by embedded LG monitors that the company touts as providing lifelike crystal clear images.