LG Leads Global OLED TV Market for 12th Consecutive Year
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By News Reporter
Company Expands 6G Leadership With 3GPP Executive Role and Cutting-Edge R&D
SEOUL, March 14, 2025 — LG Electronics (LG) continues to solidify its leadership in 6G communications, a transformative technology poised to shape the future of connectivity.
Kim Lae-young, Senior Research Engineer at LG’s CTO Office, has been appointed Vice Chair of the Service and System Aspects (SA) plenary at the 3rd Generation Partnership Project (3GPP), the global authority on mobile communications standards. The SA plenary plays a pivotal role in defining 5G and 6G system architectures, service scenarios, requirements and security mechanisms. It also drives the evolution of 5G-Advanced and the standardization of next-generation 6G technologies.
This appointment underscores LG’s expertise in communications protocols and system architecture. The company has already demonstrated its leadership by serving consecutive terms as the chair company of the Applications Working Group in the Next G Alliance, a North American 6G technology initiative led by the Alliance for Telecommunications Industry Solutions.
With this latest leadership role, LG aims to accelerate 6G research and development while actively contributing to global standardization efforts. 6G technology – enabling ultra-fast, low-latency and AI-integrated communication – will be crucial to LG’s future innovations in AI-powered smart homes, mobility and smart factories.
LG has been at the forefront of 6G research, driving innovation through strategic partnerships and pioneering initiatives. In 2019, it established Korea’s first dedicated 6G academic research center, the LG-KAIST 6G Research Center. To further accelerate advancements, LG has built a robust R&D network with leading institutions, including Germany’s Fraunhofer Institute and Korea’s Research Institute of Standards and Science, strengthening the development of core technologies. Since 2022, LG has also hosted the 6G Grand Summit, a global forum that brings together experts to shape the future of next-generation connectivity.
LG’s advancements in 6G technology have earned global recognition. In 2022, the company successfully carried out the world’s longest outdoor terahertz (THz) wireless data transmission, covering 500 meters in an urban setting. Additionally, LG is working closely with partners to validate Advanced Duplex wireless communication technology, a potential cornerstone of future 6G standards.
“We are committed to advancing next-generation technologies to reinforce our leadership in the 6G communications ecosystem and enhance our global competitiveness,” said Je Yeong-ho, head of LG’s C&M Standard Lab.
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By News Reporter
To deliver innovative heating, ventilation and air conditioning (HVAC) solutions that are Ahead of the Expected, LG continues to push the boundaries of heat pump technology in cold climates. At AHR Expo 2025 in Orlando, Florida, the company showcased its energy-efficient solutions that enhance comfort while hosting a special roundtable on the Consortium for Advanced Heat Pump Research and its vision for the industry. Three LG representatives joined the consortium to bring their knowledge and insights to the table.
As climate change continues to cause major disruption around the world, the need for high-efficiency heating and cooling systems for all temperatures has been rising. Steve Scarbrough, senior vice president and general manager of LG Air Conditioning Technologies USA, joined the panel to highlight the advantages of LG’s heat pump technology in extreme climates. LG offers a wide lineup of heat pump solutions, including water heaters, boasting its cutting-edge inverter heat pump technology. What’s more, with the introduction of a highly efficient, oil-free inverter centrifugal chiller, LG now supplies 259,000 RT of chilled water to one of the largest data centers in the world. “We are excited to bring new products to market that are customized for all kinds of environments from single small spaces to large-scale industry settings,” said Scarborough.
Although heat pumps have traditionally been associated with warmer southern climates, LG’s introduction of its Inverter Compressor to the U.S. has allowed it to build a strong lineup of heat pumps that provide effective heating in cold climates. Moreover, LG has expanded its LGRED° (Reliable to Extreme Degrees) Heat Technology to more products, facilitating high-efficiency performance under more challenging conditions.
LG has successfully constructed substantial networks in heat pump solutions by investing in research and development and strategic partnerships with key industry players. For example, LG established the Consortium for Advanced Heat Pump Research with the University of Alaska network in 2023 to conduct real-life research and testing on various types of heat pumps.
Sunwoo Kim, professor of Mechanical Engineering at the University of Alaska Fairbanks, said the consortium focuses on minimizing thermal resistance in the outdoor unit’s heat exchanger to maximize heat pump efficiency. Researchers are also trying to uncover innovative ways to integrate heat pumps with existing fossil fuel boilers. “If we have a smart and well-designed hybrid system that optimally balances the heat pump with existing traditional systems, we could significantly reduce costs and carbon dioxide emissions,” said Kim. The University of Alaska’s cold climate heat pump labs in Anchorage opened last December, and is now testing heat pump applications in the real world.
The partnership with the Universities has already borne fruit. For instance, the first joint project with the University of Alaska Fairbanks has been largely credited for the LG Residential Cold Climate Heat Pump, which won the 2025 AHR Innovation Award. “The consortium aims to become the major hub of research and education in cold climate heating systems,” said Getu Hailu, associate professor of Mechanical Engineering at the University of Alaska Anchorage and faculty advisor for ASHRAE and ASME.
By constantly promoting deeper discussions to realize its vision for heat pump solutions, LG has once again demonstrated its unwavering dedication to breaking down barriers in cold climate heating while underscoring its status as the leading innovator of heat pumps.
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By News Reporter
Company Recognized as One of the World’s Most
Responsible and Sustainability-Focused Corporate Citizens
SEOUL, Feb. 13, 2025 — LG Electronics (LG) has once again secured a “Top 1%” ranking in S&P Global’s Corporate Sustainability Assessment (CSA), marking the second consecutive year it has received this distinction. Scoring 77 out of 100, LG achieved the highest marks among the 66 companies in the CSA’s Leisure Equipment & Products and Consumer Electronics industry category.
LG’s consistent performance across multiple assessment categories reflects its commitment to responsible environmental, social and governance (ESG) management. The company received high marks in environmental criteria, demonstrating strong performance in waste and pollutants management, energy management program and climate strategy. It also scored well in social categories, including human rights, supply chain management and customer relations. Additionally, LG earned high ratings in governance for its transparency in reporting sustainability-related information.
S&P Global’s CSA provides a comprehensive evaluation of companies’ ESG performance, identifying the top 1 percent, 5 percent and 10 percent in each industry. Out of 7,690 companies across 62 industries assessed in the latest evaluation, only 66 achieved the “Top 1%” ranking.
Securing this recognition for consecutive years highlights LG’s growing global acknowledgment as a leader in ESG management. The CSA serves as a key benchmark for investors worldwide, reinforcing LG’s commitment to sustainable business practices.
To realize its Better Life for All vision, LG has established six strategic tasks for ESG management. These are focused on what LG terms the “3Cs” for the planet (carbon neutrality, circularity and clean technology), and the “3Ds” for people (design for all, decent workplace and diversity & inclusion).
LG is furthering its commitment to sustainability with plans to transition to 100 percent renewable energy at all domestic and U.S. business sites, as well as international manufacturing facilities, by 2050. As part of its climate action strategy, the company aims to achieve carbon neutrality by 2030.
Notably, LG became the first home appliance company in South Korea to have its corporate greenhouse gas (GHG) emissions reduction targets validated by the Science Based Targets initiative (SBTi). The company is committed to reducing absolute Scope 1 and Scope 2 GHG emissions by 54.6 percent by 2030, using 2017 as the baseline year. Additionally, LG is committed to cutting Scope 3 emissions from the use of sold products by 20 percent per functional unit by 2030, based on a 2020 baseline.
Additionally, LG is enhancing resource efficiency by increasing the use of recycled plastics sourced from waste appliances and developing paper-based cushioning materials to reduce plastic use in packaging.
LG remains dedicated to fostering a strong corporate culture rooted in ethical business practices. The company has implemented its Code of Ethics and Code of Conduct across all business sites and has established Human Rights Principles to uphold corporate integrity. LG continues to transparently communicate its business direction and corporate value enhancement plans, including the Future Vision 2030, the LG Electronics India IPO and shareholder return policies, ensuring meaningful engagement with stakeholders.
Furthermore, LG has reinforced its corporate governance structure by establishing clear guidelines on the independence, diversity and expertise of its independent directors, along with the implementation of its corporate governance charter.
“As a responsible global corporate citizen, LG remains dedicated to upholding the principles of good ESG management and will continue striving toward a future of shared, sustainable growth,” said Hong Sung-min, head of LG’s ESG Strategy Division.
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By News Reporter
Company Achieves Highest Annual Revenue as Home Appliances and Vehicle
Components Continue Growth for Ninth Consecutive Year
SEOUL, Jan. 23, 2025 — LG Electronics Inc. (LG) announced its financial results for the year 2024, disclosing a consolidated revenue of KRW 87.73 trillion and an operating profit of KRW 3.42 trillion. This marks a new record for the highest annual revenue in the company’s history.
In terms of revenue, both the home appliances and the vehicle components business continued their growth for the ninth consecutive year, contributing to the company’s highest revenue achievement. The LG Home Entertainment Company and Business Solutions Company also saw an increase in revenue compared to the previous year.
Operating profit experienced a slight decline compared to the previous year, primarily due to external factors such as a delayed recovery in global demand for home appliances and increased logistics costs in the second half of the year. Despite these challenges, the company maintained a stable profit structure on an annual basis. This stability was achieved through qualitative growth resulting from business portfolio restructuring and the operating leverage effect from increased sales.
2024 Business Performance
The LG Home Appliance & Air Solution Company reported a revenue of KRW 33.2 trillion in 2024. After surpassing KRW 30 trillion in annual revenue for the first time two years ago, the Company has continued to demonstrate sustainable performance, achieving double-digit revenue growth last year. Operating profit reached KRW 2.04 trillion, overcoming the challenges posed by increased logistics costs. This marks the first time since 2021 that the Company has exceeded KRW 2 trillion in operating profit.
The Company’s qualitative growth was driven by changes in its business models, which include home appliance subscriptions and Direct-to-Consumer sales. Revenue from home appliance subscriptions surged by over 75 percent compared to the previous year, nearing KRW 2 trillion. In addition, the B2B segment, which includes heating, ventilation and air conditioning (HVAC) systems, continued to expand.
The LG Home Entertainment Company reported a revenue of KRW 15.23 trillion and an operating profit of KRW 315.9 billion in 2024. Sales of OLED TVs saw growth in regions such as Europe and Asia, driven by global sports events. Additionally, the webOS-based advertising and content business surpassed KRW 1 trillion in annual revenue.
The LG Vehicle component Solutions Company reported a revenue of KRW 10.62 trillion in 2024, marking the second consecutive year it has surpassed KRW 10 trillion in revenue. Despite experiencing a temporary slowdown in demand for electric vehicles, the Company demonstrated stable revenue growth for the ninth consecutive year, supported by a high order backlog. However, operating profit decreased to KRW 115.7 billion compared to the previous year, primarily due to increased development costs for new order projects and R&D investments aimed at transitioning to software-defined vehicles (SDV).
The LG Business Solutions Company reported a revenue of KRW 5.69 trillion in 2024, with an operating loss of KRW 193.1 billion. The increase in revenue was driven by a focus on customized commercial displays for sectors such as hotels, stores, businesses and schools, as well as premium IT products like the LG gram. However, the Company continued to face operating losses due to rising raw material prices for key products and intensified market competition.
2025 Business Directions
LG will consistently pursue qualitative growth through business portfolio innovation, despite the rapidly changing global market and competitive environment. Following the regrouping of the company’s business operation units at the end of last year, LG aims to enhance synergies between its businesses and improve operational efficiency. Additionally, LG will focus on strengthening the fundamental competitiveness of its businesses in terms of quality and cost, while securing a sound profit structure.
The LG Home Appliance Solution Company plans to launch new products with regional specialization and AI applications, aiming to expand sales by increasing sales of its volume zone lineups. The Company will also advance its AI home solution business to achieve its goal of “Zero Labor Home, Makes Quality Time.” Additionally, the subscriptions business will actively expand beyond Korea, Malaysia and Taiwan to include Thailand, India and other regions, continuously creating new opportunities.
The LG Media Entertainment Solution Company aims to expand sales of premium products such as OLED and QNED, while providing differentiated customer experiences through AI features. The Company will integrate operations of LG’s screen-based businesses – including TVs, IT devices and information displays – to enhance synergies between hardware and platform businesses. Additionally, webOS will be developed into an integrated content and services platform for both indoor and outdoor use through continuous content investment and partnership expansion.
The LG Vehicle Solution Company aims to focus on going beyond a supplier of vehicle components to becoming a provider of innovative solutions for the entire vehicular experience. The Company will focus on securing SDV capabilities in preparation for the future. It will also strive to maintain stable revenue based on its order backlogs while improving profitability through product mix enhancement and overall operational improvements.
The newly established LG Eco Solution Company aims to rapidly grow LG’s HVAC business into a global top-tier player by leveraging its core technological competitiveness in key components such as motors and compressors. The Company will focus on building locally self-sustainable production systems and developing region-specific solutions. It will provide comprehensive solutions optimized for various spaces, including industrial, commercial, public and residential facilities, ranging from large chillers to commercial and residential air conditioners.
Earnings Conference and Conference Call
LG Electronics will hold a Korean / English conference call on January 23, 2025, 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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By News Reporter
Have you ever wondered how many LG OLED TVs are shipped every year? 100 thousand units perhaps, maybe as much as a million? In the first half of 2023, LG recorded over 1.33 million shipments of its stunning OLED TVs, setting new benchmarks and records its competitors can only dream of.
According to market research firm
link hidden, please login to view, LG captured over 55 percent of the global OLED TV market in the first six months based on total shipments. As a renowned OLED TV leader now celebrating 10 years of innovation in this space, LG has once again defended its premium TV crown while further cementing LG OLED TV’s status as the pinnacle of premium TVs.
The “bigger the better” trend continues to prevail in the TV market, which is great news for LG. As more and more people desire larger TVs for their living spaces, models of 75 inches or larger accounted for a remarkable 11.4 percent share of total OLED TVs sold, while shipments’ yearly average growth rate topped 90 percent over the past five years. Staying on top of this growing trend, LG is resuming its dominance in the market with an outstanding 64.2 percent share in total shipments of OLED TVs over 75 inches.
LG is targeting this new demand for large and premium TVs in the second half of 2023 with the groundbreaking TV (model 97M3) it unveiled in July, which boasts the world’s first 4K 120Hz wireless solution that makes it easy for customers to achieve their dream interior.
Not one to be confined, LG unleashed a tidal wave of 10 million TV units (OLED and LCD) on the world, which has helped the company carve out a 16.2 percent share of revenue for itself in the global TV market.
Despite facing a downturn in the global TV market, LG persisted in strengthening its inventory management and securing higher profits while actively pursuing a strategic approach for its premium and ultra-large displays. And this commitment has paid off substantially, with its LG OLED TVs now accounting for around 30 percent of the company’s overall revenue generated from TV sets.
TV shipments totaled over 92 million units in the first half of 2023, matching last year’s first half performance. The OLED TV segment, which has been led by LG for a number of years, has already passed the 2 million shipments mark this year, which bodes well for the rest of 2023.
OLED TVs are continuing their takeover of the global TV market after capturing 9.3 percent of all revenue in the first half. Meanwhile, Omdia predicts that OLED TVs are set to shine even brighter, projecting at least a 43 percent revenue share among premium TVs priced above USD 1,500.
Find all the latest news on the home entertainment business and learn more about its world-leading innovations on the LG Newsroom.
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