By News Reporter
LG Singapore recently hit another important milestone with the opening of the LG Life’s Good Experience Zone. Officially launched in January in collaboration with leading Australian retailer Harvey Norman, this first-of-its-kind space showcases how LG’s latest smart products seamlessly integrate into, transform and revolutionize practically any space. Visitors to the zone can expect to be treated to a first-hand experience of the interconnected world LG’s innovations create.
The celebrations began with a ribbon cutting ceremony where Gerald Chun, managing director at LG Singapore, and Bernice Kwok, chief operating officer at Harvey Norman Singapore, used golden scissors to officially open the space to the people of Singapore and the world.
As part of the celebrations, a team of red lion dancers performed a captivating routine to bring good fortune and wealth to the new space. Afterwards, Gerald Chun and Bernice Kwok were presented with a pair of traditional blessings as a gesture of long-lasting prosperity.
The special guests were then ushered through the showroom on a private tour conducted by LG Singapore’s insightful product team, giving them the very first look at the Life’s Good Experiential Zone and their first experience of how their lifestyle could evolve to the next level as LG’s appliances work in unison with the LG ThinQ app.
“We are delighted to collaborate with Harvey Norman to introduce Singapore’s first-ever LG shop-in-shop experience zone, a significant milestone that demonstrates our commitment to innovating shopping experiences,” said Gerald Chun, managing director at LG Singapore. “As visitors witness the debut of various LG products in Singapore, our commitment to innovation is on full display. We invite everyone to join us on our journey to shape the future of home living.”
Offering a sneak peek into the future of living, the LG Life’s Good Experience Zone invites you to witness the seamless integration of LG’s cutting-edge technologies. By exploring such harmonious synergy, visitors can discover a connected ecosystem where all products converge and are intelligently managed on the intuitive LG ThinQ app, inspiring them to envision their dream home that elevates daily convenience and quality of life.
Contributed by LG Singapore
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By News Reporter
Company’s Innovative Solutions Enable Customers Across Diverse Industries and
Sectors to Create Seamless Digitalized Spaces That Engage and Inform
SEOUL, Jan. 30, 2024 — LG Electronics (LG) is showcasing its advanced digital signage solutions at Integrated Systems Europe (ISE) 2024 in Barcelona, Spain, from January 30 to February 2. LG will unveil its comprehensive range of display solutions tailored to the needs of retail, corporate, education and hospitality, including its Micro LED, All-in-One LED, Transparent OLED and cloud management platforms.
Inside ISE 2024’s largest booth, the LG MAGNIT lineup of micro LED displays are featured across several zones that demonstrate different usage scenes, including a digitalized control room, meeting space, luxury suite and virtual production studio. The company’s micro LED technology enables large-scale screens that can be tailored to meet customers’ specific demands and installation environments. In addition to outstanding picture quality with stunning color accuracy across a wide viewing angle, LG’s micro LED tech has undergone rigorous testing for surface flame spread and electromagnetic compatibility.
Ideal for conference rooms, LG MAGNIT All-in-One features easy-to-access, front-mounted controls, integrated speakers and a controller for convenience and simplicity. LG’s Micro LED solutions for corporate control rooms boast large screens and continuous monitoring capabilities, while LG MAGNIT for virtual production studios delivers accurate image reproduction and compatibility with various filmmaking equipment. LG’s Micro LED displays for luxury suites leverage the α (Alpha) 9 AI processor to provide mesmerizing viewing experiences and content-optimized picture quality.
LG’s 1,728-square-meter booth also presents ‘Kinetic LED’ for diverse settings such as shopping malls and airports. The striking installation comprises a kinetic screen measuring 3,670 x 6,100 millimeters and several large-size LED Fine Pitch (model LSBC019) displaying vibrant digital art that moves in sync with atmospheric music.
The Luxury Suite offers exclusive cinematic viewing experiences with the 118-inch LG MAGNIT and 49-, 55- and 65-inch UHD signage solutions featuring new art gallery-inspired picture-frame bezels (offered in three elegant colors). With Apple AirPlay, guests can stream content to LG Hotel TVs, right from their iPhone or iPad, whether it’s to watch movies and shows from their favorite apps or share what’s on their Apple devices, including photos, personal videos, games and more. Guests simply scan a unique, on-screen QR code after checking in to privately and securely pair their iPhone or iPad directly to the TV in the room for the duration of their stay.
The Corporate Zone highlights three LG MAGNIT displays: one perfect when filming CEO speeches or commercials, another that has a detachable power supply unit for use in control rooms, and the All-in-One model with embedded controller and speakers for meeting rooms. Also on show are the newly-introduced 21:9 aspect ratio, 171-inch LED All-in-One and 21:9, 105-inch LCD signage, which work well with widescreen video-conferencing platforms. These signages are also compatible with integrated solutions from LG’s partners to meet user-specific needs.
In the Retail Zone, visitors can explore solutions that enhance the shopping experience and generate advertising revenue for store operators. LG’s various digital signage for retail boutiques, restaurants, bakeries and cafes include the 79-inch Stretch LED signage, ideal for showing brand content; Transparent OLED, which serves as a digital menu board; and LG Kiosk, which provides a convenient self-service option. The company is also illustrating the ease of selecting and playing in-store advertisements through LG DOOH Ads’ Programmatic AD feature, which optimizes advertising content according to customers.
With its thin bezels, the new 55-inch modular Transparent OLED allows for an NxN-format ‘video wall’ installation that serves as an open partition while engaging shoppers. Also, LG’s double-sided LED-LCD signage (86-inch LED and 75-inch LCD) shows off the compelling possibilities for simultaneously delivering advertisements to in-store visitors and passersby. This space also demonstrates the space-efficiency and versatility of the 37-inch stretch, and 30- and 55-inch vertical Transparent OLED displays.
The Education Zone features a digital classroom equipped with LG CreateBoard – interactive digital boards (55 to 86 inches). Educators can easily load classes through its web browser and give students access via QR codes. An excellent choice for university film programs, the integrated solution for virtual production includes LED screens for displaying digitally-rendered backgrounds, LG CreateBoard for writing and OLED displays for reviewing video footage.
To enhance the customer experience, LG offers various cloud-based software solutions that facilitate the efficient management of its cutting-edge digital displays. The integrated LG Business Cloud platform lets users explore, subscribe to and manage the cloud solutions available for LG digital signage and commercial TVs. Visitors can also check out LG SuperSign Cloud, which enables content creation and distribution for digital signage, the hospitality-enhancing LG Pro:Centric Cloud and the LG ConnectedCare remote management solution.
What’s more, LG unveils its commercial display security system, LG Shield, to respond to more sophisticated cyber threats emerging from AI. LG Shield operates under webOS to protect against security threats, safeguarding central servers, apps and operating systems. Its security performance completed a global common criteria evaluation and has been granted EAL 2 certification and ISO/IEC DIS 18974.
“At ISE 2024, LG’s digital signage, cloud management platforms and collaborations with professional partners across diverse industries reveal an unmatched ability to deliver integrated solutions optimized for a wide variety of spaces,” said Paik Ki-mun, senior vice president and head of the Information Display business unit of LG Business Solutions Company. “We will continue to provide customer-focused smart life solutions that open up new and exciting ways to connect, engage and create.”
LG’s latest digital signage solutions will be on display in Hall 3 (Stand 3K 100) of Fira Barcelona’s Gran Via conference center from January 30 to February 2. To learn more about LG’s digital signage solutions on show at ISE 2024, visit www.lg-informationdisplay.com/ise2024.
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By News Reporter
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By News Reporter
Company Empowers Young Talent in Europe
to Reimagine HVAC for a Better Tomorrow
SEOUL, Jan. 26, 2024 — LG Electronics (LG) announces that the grand finale of its first-ever heating, ventilation and air conditioning (HVAC)-themed student hackathon, Hack for Heat, will take place on January 26 at the LG office in Courbevoie, France. The groundbreaking event will see talented youth from across Europe competing in teams to help redefine the future of HVAC and create a better tomorrow for all.
LG is a company that understands the importance of transitioning to low-carbon heating systems and is fully committed to supporting the EU’s Green Deal. In line with this commitment, LG offers efficient and sustainable HVAC solutions. As part of efforts to foster the next generation of HVAC innovators and help bring about positive change, LG organized the Hack for Heat hackathon, inviting students to apply their passion and unique ideas to three key challenges facing the HVAC industry:
HACK HEAT FOR DESIGN: Redefining HVAC design to seamlessly integrate into urban landscapes, with a focus on aesthetics, size and cost. HACK HEAT FOR PLANET: Creating ‘zero carbon’ heat pump systems while addressing aspects of the supply chain. HACK HEAT FOR USERS: Crafting engaging educational content to connect with consumers and spread awareness about LG’s commitment to sustainable development solutions. The Hack for Heat grand finale will feature six teams representing Spain, Portugal, the U.K., Hungary and France. Each team will have the opportunity to present their projects to a jury comprising LG executives from various business units. The winning team will be rewarded with an all-expenses-paid trip to Seoul, South Korea, where they will have the chance to immerse themselves in the local culture, explore the city’s renowned landmarks and enjoy an exclusive tour of LG headquarters.
Open to the public and media, the Hack for Heat finale will be held at Workstation, 25 Quai du Président Paul Doumer, Courbevoie, France, on January 26 from 8:30 to 15:30 (CET). Registration is required and can be completed on the event’s
link hidden, please login to view. “Hack for Heat reveals LG’s strong commitment to innovation and firm belief in the power of young talent to shape the future of HVAC,” said James Lee, head of the Air Solution Business Unit at LG Electronics Home Appliance & Air Solution Company. “We are thrilled to welcome the unique ideas of these passionate, young innovators, and look forward to seeing how their contributions will transform the industry and make people’s lives better.”
For more information about the event, visit .
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By News Reporter
Highest Annual Revenue in History With Home Appliance and
Vehicle Components Showing Growth for Eight Consecutive Years
SEOUL, Jan. 25, 2024 — LG Electronics Inc. (LG) announced its financial results for the year 2023, disclosing a consolidated revenue of KRW 84.2 trillion and an operating profit of KRW 3.55 trillion. This marks the third consecutive year of achieving record-breaking annual revenue. The operating profit is also solid, approaching levels seen during the prior period of pent-up demand.
Despite challenging external factors such as an economic slowdown and reduced demand, LG’s core business of home appliances and the burgeoning vehicle components business have demonstrated remarkable resilience, maintaining continuous growth for eight consecutive years. The combined revenue of these businesses exceeded KRW 40 trillion last year, a substantial increase from KRW 18 trillion in 2015. Over the same period, the proportion of these two businesses in the total revenue has risen from 32.5 percent to 47.8 percent.
The performance is attributable to LG’s strategic efforts to enhance its business portfolio. The company successfully expanded its B2B business by identifying market turning points early on and integrated new business models, including subscription services, into existing frameworks. Furthermore, LG’s innovative content and service business model, leveraging its extensive user base of hundreds of millions of products globally, has also contributed to securing robust profitability.
Looking ahead, LG is committed to a continual transformation from a mature business-oriented structure to a future growth-oriented one. In this year, the company will concentrate its capabilities on breaking through limits to maximize its business potential. Guided by the newly established Overseas Sales & Marketing Company, LG will strive for additional growth and expanded product coverage, particularly in emerging markets where there are greater growth opportunities.
The LG Home Appliance & Air Solution Company achieved an annual revenue of KRW 30.14 trillion, marking eight consecutive years of growth and ushering in the era of KRW 30 trillion. Introducing new business models including subscription services and expanding the B2B share in areas such as HVAC, components and built-in solutions contributed to this growth. The operating profit recorded an increase of over 76 percent compared to the previous year, reaching KRW 2.08 trillion.
In the coming year, the Company will accelerate a shift in its business model towards future readiness, including Direct-to-Consumer initiatives. It aims to expand the deployment of home appliance operating systems and extend subscription services to international markets. Additionally, there will be a swift progression in building smart home solutions that reflect the value of “Zero Labor Home.” In terms of products, the Company will seek to maintain its strategic approach of solidifying the premium leadership of key products, such as washing machines and refrigerators, while swiftly expanding region-specific lineups. To sustain continuous growth in the B2B sector, especially in areas like HVAC, the Company plans to strengthen its capabilities by establishing a complete, local business operation that encompasses product development, production and sales, with a focus on the evident electrification trends in regions such as North America and Europe.
The LG Vehicle component Solutions Company achieved an annual revenue of KRW 10.1 trillion and operating profit of KRW 133 billion. In its 10th year since establishment, the Company not only surpassed the KRW 10 trillion revenue mark but also demonstrated eight consecutive years of growth since it began disclosing performance results in 2015. The share of total consolidated revenue has increased to 12 percent. This year, the Company aims to drive both external growth, leveraging a substantial order backlog, and qualitative growth in its operations. In in-vehicle infotainment, the Company is dedicating efforts to secure capabilities in the area of software-defined vehicles in response to the needs of OEMs. Drawing upon its differentiated technology accumulated in the home appliance and IT sectors, the Company will seek to further enhance the in-vehicle customer experience. In the e-Powertrain area, focus will be on strengthening product capabilities and early stabilization of overseas production bases to enhance responsiveness to customer demands. Additionally, in headlamps, there are plans to expand premium product orders while simultaneously improving operational efficiency.
The LG Home Entertainment Company recorded an annual revenue of KRW 14.2 trillion and operating profit of KRW 362 billion. The webOS platform-based content and services business solidified its position as a new source of revenue, showing a significant increase in operating profit compared to the previous year. The revenue slightly decreased amid a relatively slow recovery in demand for premium products like OLED. In anticipation of a progressive recovery in TV demand this year, the Company will seek to strengthen both the top-tier OLED lineup and the QNED lineup, following a dual-track strategy to lead the premium market. Simultaneously, the Company is accelerating its transformation into a media and entertainment powerhouse. In the current year, the webOS platform business is slated for nurturing as a significant revenue-generating venture in the scale of trillions.
The LG Business Solutions Company recorded an annual revenue of KRW 5.4 trillion and operating loss of KRW 42 billion. The revenue saw a slight decrease compared to the previous year due to delays in IT demand recovery and reduced investments from key enterprises. Increased investments in future growth areas such as robotics and electric vehicle charging had an impact on profitability. In this year, the Company is positioning itself with a competitive lineup of IT products, including gaming monitors and the LG gram Pro, and will actively seek to find business opportunities targeting distinct verticals such as government agencies and schools. As a leader in LG’s B2B business, it aims to accelerate the shift from supplying single products to integrating and providing adjacent solutions. With a significant proportion of new businesses within the organization, investments will be prioritized for future preparations rather than short-term management performance.
Earnings Conference and Conference Call
LG Electronics will hold a Korean / English conference call on January 25, 2024, at 16:00 Korea Standard Time (07:00 GMT/UTC). Conference call participants are instructed to pre-register online to receive a private PIN. To participate in the conference call, dial +82 31 810 3130, enter passcode 6418# and then the PIN. The corresponding presentation file will be available for download at the LG Electronics website before the call.
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