PreCentral: Introducing the first annual Mobile Nations Community Awards!
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By News Reporter
LG NOVA InnoFest Lights the Halo of Innovation on Bold Ideas and Businesses With
Open Conference Program, Issues a Call for Startups for the Pitch Competition
SAN FRANCISCO, July 16, 2024 — LG Electronics (LG) has opened registration for the fourth annual LG NOVA InnoFest, taking place on September 25-26, at the Palace of Fine Arts in San Francisco. Hosted by LG NOVA, LG Electronics’ North America Innovation Center, the two-day event will bring together a cross-section of business leaders, innovators and investors across various industries to collaborate on solutions for a better future. This year’s event theme, “Lighting the Halo of Innovation” was designated to inspire attendees to focus on creating change and impact through co-creation and collaboration on bold ideas and businesses.
The event brings back its annual Startup Pitch Competition, where 10 selected startups will compete to win cash prizes, an audience with executive judges and recognition on stage. In this competition, LG is looking for bold startups with great potential, working on innovative ideas that can lead to transformative change in their markets.
LG Electronics’ sister company LG Chem is co-sponsoring this year’s startup pitch competition, adding a new Life Sciences category alongside CleanTech, HealthTech, AI, Smart Life and Open Innovation. The US Business Development team is seeking next-generation technologies that align with LG Chem’s sustainability mission and will sponsor a new “Innovation for Impact Award.”
For more details on each category, visit
link hidden, please login to view. Interested startups can submit their companies for consideration at . In addition to the monetary prizes and on-stage recognition, selected startups may have the opportunity to collaborate with LG to build businesses, participate in LG NOVA-sponsored marketing activities or qualify for investments from LG and its network. According to a 2023 from Boston Consulting Group, 79 percent of companies ranked innovation among their top three priorities and more than 40 percent expect to increase spending significantly. Today, innovation is being driven by a collaborative ecosystem. This interconnected approach, involving startups, corporations, academia and venture capitalists can result in groundbreaking solutions. Innofest seeks to illustrate the capabilities of this model, bringing together startups, investors and members of the innovation community to exchange ideas, encourage, support and discuss how they can all work together to spur “innovation for a better life.”
“Today the responsibility for innovation no longer sits solely with individual companies; collaboration is critical,” said Dr. Sokwoo Rhee, corporate executive vice president for Innovation at LG Electronics and head of LG NOVA. “Through InnoFest, we are bringing together the entire innovation ecosystem, from corporations to growing startups, to discuss creative and cutting-edge ideas that have the potential to shape our future.”
Last year’s gathering brought 90 industry-leading speakers together for 28 sessions focused on topics such as women in tech; balancing growth, profitability and impact; as well as diversity in tech. The event enabled people to join in the discussions on solutions to challenges in these key areas within the innovation community.
This year, according to Rhee, “InnoFest is boldly reimagining its program to be more interactive and engaging through a non-traditional conference format, emphasizing meaningful connections and inspiring conversations.” Attendees can look forward to influential speakers and keynotes, select curated panels and more dynamic discussion-based sessions.
“At LG, we believe in the power of optimism and innovation to change the world,” said Rhee, who invited startups to join LG at InnoFest 2024, “as we strive to create a brighter future together.”
Registration for InnoFest is now open at . Interested in speaking or moderating at the event? Learn more at .
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By News Reporter
In the second episode of the ‘Customers at Heart’ series, we arrive in Egypt to see how the LG team here are introducing customized solutions that seek to improve the entire customer experience.
In Egypt, a country where 72 percent of its 111 million population are internet users according to
link hidden, please login to view, the popularity of online shopping is significant. Recognizing this, LG Egypt has taken an extra step to understand and analyze the needs of local customers, aiming to elevate their online shopping experience. Customer needs in Egypt, related to LG’s Online Brand Shop (OBS), both in the digital and physical space, were identified and categorized into three main areas: simplified access to information on store locations or LG appliances; an expanded range of payment options for OBS purchases; and increased flexibility in scheduling for delivery, installation and repairs.
The subsidiary took into account local customer data, even analyzing numerous customer call records and Voice of the Customer (VoC) data to better comprehend their preferences. For example, they observed that over 70 percent of Egyptians use WhatsApp, the messaging service. However, as the country is in the nascent stages of digital finance, many consumers still prefer cash payments. Thus, LG Egypt aimed to provide a wider range of payment options and unique benefits to attract people to the OBS.
Incorporating various data, the company enhanced its messaging features and created an All-in-One chatbot service through WhatsApp. With this service, customers can now choose their nearest store and, by clicking ‘Connect to Promoter’ and selecting text or video chat, they can connect with a knowledgeable sales representative.
LG Egypt also broadened its payment system by offering a method to pay for online purchases in cash upon delivery or in installments. They also improved purchasing benefits, such as member discounts and cleaning service coupons valid for a year from the purchase date.
The company also streamlined the delivery and installation process, allowing both to occur on the customer’s chosen date. This eliminates the need for customers to contact the call center separately for installation, saving them valuable time.
And to ensure customers receive the maximum benefit from their products, LG enhanced its after-sales service by scheduling service technician visits at times convenient for the customers and ensuring issues are resolved in a single visit – eliminating the need for lengthy waits for repairs. To cater to all customer needs, the Egyptian branch introduced ‘same day contact,’ a service that ensures technicians call customers on the same date of order request receipt; ‘Evening Care+’ for customers unavailable during regular office hours; and ‘On time – One Time’, which provides repair reception and processing during evening hours (17:30 – 20:30). The company also streamlined returns through its ‘Instant Exchange Process,’ handing customers the ability to effortlessly request returns or replacements by taking photos.
These innovative changes to the customer experience have been praised by customers nationwide. Its chatbot and location-based features have played a big part in boosting customer satisfaction, and the numbers back this up. Last year, OBS sales increased 169 percent compared to the previous year while registered OBS members went up 79 percent. After witnessing these results, LG Egypt committed itself to further diversifying its customer care program and increasing the All-in-One chatbot’s applicability to provide the ultimate differentiated experience to LG Brand Shop visitors. The company also plans to expand their dedicated service infrastructure to around 90 percent, ensuring that customers associate LG services with ‘On Time – One Time.’
Stay tuned for the next episode of ‘Customers at Heart,’ where we’ll be heading to another global LG office to learn how they’re thinking out of the box to enhance the customer experience.
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By News Reporter
LG Smart TVs Offer Latin American Users Free Anime Onegai FAST Channels for the
First Time With Spanish Subtitles and Dubbing
MEXICO CITY, May. 15, 2024 — LG Electronics (LG) is offering LG TV owners in Latin America free channels from popular Japanese anime platform Anime Onegai through the company’s exclusive, free streaming service, LG Channels. Anime Onegai is a streaming platform focused on anime founded by Japanese company REMOW, delivering Japanese anime straight from Japan. Available for the first time ever, Anime Onegai’s free ad-supported streaming television (FAST) channels are set to delight anime enthusiasts across Mexico, Argentina, Chile, Peru and Colombia with high-quality Spanish subtitles and dubbing. Whether long-time anime fans or exploring the genre for the first time, Anime Onegai on LG Channels promises to deliver a captivating viewing experience on large LG Smart TV screens.
Anime Onegai on LG Channels provides an extensive selection of anime content to the Latin American audience for free, a region boasting a significant anime fanbase with multiple countries among the top consumers of anime worldwide. Exclusively tailored to Spanish speakers, users can discover anime from a diverse range of genres, from thrilling sports, futuristic science fiction and action-packed adventures to rhythmic music and emotional dramas that tug at the heartstrings.
The Anime Onegai Sport channel invites LG smart TV users to enter the captivating universe of “Kuroko’s Basketball,” a must-see anime that fuses traditional sports with fantasy elements for original adrenaline-filled excitement. For those looking for fast-paced storytelling, the Anime Onegai Action channel provides high-octane content like “REBORN!” a gripping series filled with dynamic characters and masterfully crafted fight scenes.
Anime Onegai also offers content that inspires viewers with healing moments for relaxation and reflection. “Natsume Yujin-cho,” a slice-of-life anime featured on the Anime Onegai Drama channel, takes viewers on an emotional journey filled with heartfelt moments. The Anime Onegai Music channel understands the power music holds in transporting viewers to a new world or intensifying a dramatic scene. Here, music fans can immerse themselves in dramas such as “Full Moon,” which promises viewers an immersive experience with enchanting melodies.
In addition to a diverse selection of sports, action, drama and music channels, the Anime Onegai Sci-Fi channel on LG Channels presents compelling narratives with futuristic adventures and unique worldbuilding. LG Smart TV users can dive into the popular sci-fi anime “Broken Blade” and experience a world filled with epic battles, advanced technology and political intrigue.
Available on LG Smart TVs launched in 2016 and later, LG Channels can be effortlessly accessed directly from the home screen. LG Channels remains the preferred choice for LG Smart TV users worldwide, maintaining its position among the top five most used apps. With the addition of Anime Onegai, users can delve into an even broader selection of content for differentiated entertainment experiences.
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By News Reporter
The popularity of the League of Legends Champions Korea (LCK), the largest esports competition in Korea, transcends borders, which is why it is broadcast live in six languages worldwide. Vietnam, ranking third in viewership, boasts a robust League of Legends (LoL) community that appreciates every opportunity to get closer to their favorite team and pros. In fact, just recently a record-breaking 560,000 Vietnamese viewers tuned in live to the LCK Spring 2024 Finals.
Held at the end of April, the winner of the grand finals was none other than Gen.G Esports, making it four LCK championships in a row for the first time in the Korean league history. On top of this, Gen.G extended its win streak by claiming victory at the 2024 Mid-Season Invitational (MSI), securing their first MSI title and guaranteeing their place at the 2024 LoL World Championship this fall.
As a fervent backer of the world’s top-ranked LoL esports team, LG has been outfitting the Gen.G team with its LG UltraGear gaming monitors, known for their superior refresh rates and responsive performances, as its Official Display Partner since 2021.
On May 25, in a gesture of gratitude for their immense Vietnamese fan base and to bring Life’s Good moments with LG to life, the four-time LCK champions hosted their inaugural meet and greet at
link hidden, please login to view, LG’s brand experience space in Ho Chi Minh City. A total of 140 fortunate fans had the opportunity to interact, take photos, and converse with five professional Gen.G players – Kiin, Canyon, Chovy, Peyz and Lehends.
During their Vietnam trip, the Gen.G team also took part in the Life’s Good Tournament with fans. From May 14-19, Vietnamese influencers and Optimus led the preliminaries, with the top four teams earning a coaching session from Gen.G Global Academy coaches.
The winning team of the Life’s Good Tournament, Xin Giải Nhì, not only won LG UltraGear monitors (24GN65R) but also had the extraordinary chance to challenge their Gen.G idols in a final showdown. This unique event included a mixed-teams match, pairing members from both Gen.G and Xin Giải Nhì, and was broadcast live on the .
The Life’s Good Tournament and fan event was a great opportunity for Gen.G members to connect with their fans in Vietnam in person. As an influential team within the gaming realm, Gen.G took part in LG’s ‘Optimism your feed’ social media campaign which aims to spread the message of Life’s Good through curated content designed to bring a smile to their faces.
Through several Tik Tok and Instagram reels, Gen.G members shared their view on optimism and how their motivation to work hard comes from their teammates and fans around the world, calling on them to join the campaign. Influencers Mai Dora and Optimus also asked their followers to share what they feel optimistic about.
To learn more about LG’s efforts to spread Life’s Good to consumers around the world, stay tuned to LG Newsroom.
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By News Reporter
Company Pushes Boundaries With Innovative Business Models
While Balancing Core Operations and Future Growth to Create New Opportunities
SEOUL, April 25, 2024 — LG Electronics Inc. (LG) announced first-quarter 2024 consolidated revenue of KRW 21.09 trillion and operating profit of KRW 1.33 trillion. The company’s home appliance sector demonstrated global leadership, achieving record-breaking revenue and double-digit operating profit margins. The EV components sector, a key driver of future growth, continued its steady expansion. Both the TV and business solutions sectors experienced year-on-year sales growth and returned profits compared to the previous quarter.
Despite navigating challenging macroeconomic conditions such as high commodity prices, volatile exchange rates, rising interest rates and delayed demand recovery, LG achieved its highest-ever total revenue for a first quarter. This milestone underscores the effectiveness of implementing sustainable business models like subscription services and leveraging growth opportunities in the promising B2B sector. LG’s emphasis on differentiating features such as AI, energy efficiency and customer-centric design has strengthened its competitiveness in the premium market. Furthermore, the strategic approach of offering diverse product lineups and flexible pricing structures enabled the company to successfully navigate polarized demand trends.
Operating profit surpassed KRW 1 trillion for the fifth consecutive year, showcasing LG’s strong performance in the face of intensifying market competition. The company’s focus on content/service businesses and direct-to-consumer sales via the Online Brand Shop (OBS) has fueled qualitative growth. Efforts to stabilize raw material and logistics costs, coupled with production location flexibility, have further bolstered profitability.
The LG Home Appliance & Air Solution Company generated first-quarter revenue of KRW 8.6 trillion and an operating profit of KRW 940.3 billion. This represents a notable 7.2 percent increase in revenue compared to the same period last year, setting a new record for first-quarter performance. Operating profits reached the second-highest level in the company’s history, with an operating profit margin of 10.9 percent, underscoring the company’s exceptional global competitiveness.
Driven by its core technologies, particularly in motors and compressors, LG’s home appliance business continues to innovate within a mature market landscape. With a commitment to industry leadership, LG is pioneering transformative initiatives such as product subscription services and advancing the concept of ‘Affectionate Intelligence’ appliances. These innovations are tailored to empathize with and address customer needs effectively. Moreover, LG is strategically expanding its B2B ventures, including HVAC and built-in solutions, to capitalize on emerging growth opportunities.
The LG Vehicle component Solutions Company reported first-quarter revenue of KRW 2.66 trillion and an operating profit of KRW 52 billion, reflecting an 11.5 percent year-on-year revenue increase. The ongoing conversion of backlog orders into revenue is progressing steadily. Despite ongoing investments in overseas production sites to fulfill new orders and meet OEM demands, the company has maintained stable profitability, benefiting from economies of scale resulting from revenue expansion.
While there are expectations of a slight slowdown in the recent growth of EV demand, the demand for high-value-added EV components continues to rise steadily. LG is proactively addressing these market dynamics by developing a balanced portfolio, spanning from in-vehicle infotainment to powertrains and headlamps. The company aims to ensure sustained revenue growth and a stable profit base by actively adapting to these market shifts.
The LG Home Entertainment Company reported first-quarter revenue of KRW 3.49 trillion and an operating profit of KRW 132.2 billion. This represents a 4.2 percent increase in revenue compared to the same period last year, driven by a resurgence in TV demand in Europe and the successful launch of new 2024 models. The positive operating profit was fueled by the robust performance of the webOS content/service business, alongside traditional product sales. Despite challenges such as rising LCD panel prices, the company effectively managed profitability.
Looking ahead, a gradual recovery in the TV market demand is anticipated in the second half of the year. LG’s strategy focuses on leveraging its globally leading OLED TV and premium LCD QNED TV offerings while continuously enhancing the profitability of the webOS platform business, which is poised for rapid growth.
The LG Business Solutions Company reported first-quarter revenue of KRW 1.57 trillion, marking a 6.5 percent increase year-over-year, and an operating profit of KRW 12.8 billion. The launch of new LG gram laptops, featuring on-device AI and timed for graduation and enrollment seasons, garnered positive market feedback. In addition, sales of commercial display products, including electronic whiteboards and LED signage, experienced growth. While operating profit returned to positive territory from the previous quarter, there was a slight decrease compared to the same period last year, attributed to factors such as rising component prices and intensified competition.
This year, the overall IT market is expected to maintain similar demand levels to the previous year, with a slight growth anticipated in the commercial display segment. There is an expected increase in demand for high-spec IT products like gaming monitors and LED signage. LG aims to lead the market with strategic IT products tailored to customer needs, integrating gaming-specific features and OLED displays, alongside premium LED products. Efforts to proactively develop promising new businesses such as robotics and EV charging continue to drive future growth prospects.
Earnings Conference and Conference Call
LG Electronics will hold a Korean / English conference call on April 25, 2024, at 16:00 Korea Standard Time (07:00 GMT/UTC). Conference call participants should pre-register online to receive a private PIN. The corresponding presentation file will be available for download at the LG Electronics website before the call.
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