LG Electronics India Limited Begins Construction of Its Third Manufacturing Plant in India
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By News Reporter
Recognition for LG Spans Across Media Entertainment, Home and B2B Categories
LAS VEGAS, Jan. 24, 2025 — LG Electronics (LG) once again was honored with numerous awards and accolades across multiple categories, including media entertainment, home and B2B solutions from leading publications and tech experts. Highlighting LG’s honors at CES 2025 were more than 100 CES Innovation Awards including three Best of Innovation Awards for the 83-inch LG OLED evo G5 TV (Video Displays), UltraGear Bendable Gaming Monitor 45GX990A (Gaming & eSports, Imaging) and Pet Care Zone (Pet Tech & Animal Welfare).
The new LG SIGNATURE over-the-range Smart Microwave is turning heads at CES 2025 Wednesday, Jan. 8, 2025, in Las Vegas. LG’s latest innovation in TV, the LG OLED evo G5 was also honored by CNET Group with its “Best of CES” honor in the display category. As the official media partner of the Consumer Technology Association (CTA), the award is considered the official award program for CES.
LG Media Solutions’ portfolio has earned a series of Best of CES 2025 awards in prolific tech-publications such as Tom’s Guide, PCMag, The Verge and more. Highlights include: the MyView Touch&Move (32U889SA) earning Best of CES 2025 from TechRadar, recognized for its exceptional versatility and user experience. The LG StanbyME 2 was honored as the “Best sequel” by The Verge, celebrating its cutting-edge design and unique functionality. Mashable named the LG G5 OLED evo TV as one of the Best of CES 2025, praising its groundbreaking picture quality and immersive viewing experience. Additionally, USA Today included the LG SIGNATURE OLED T in its 50 Top Picks for CES 2025.
Developed in collaboration with multi-platinum musician and tech entrepreneur will.i.am, the LG xboom Grab speaker took home an Editor’s Choice award in the Audio & Video Category of Techlicicious’ CES 2025 lineup. Combining will.i.am’s visionary approach to music with LG’s leading audio expertise, the xboom Grab produces exceptional sound quality in a sleek, portable design. The “xboom by will.i.am” audio products deliver high-impact sound and bold aesthetics, making it a game-changer in the world of portable audio.
LG Home Solutions has garnered widespread recognition at CES 2025 for its innovative products, with several standout awards highlighting its cutting-edge designs and functionality. Mashable’s CES 2025 Highlights: What We’ve Seen So Far accolade went to the LG AeroCatTower, celebrated for its sleek design and powerful air filtering capabilities. The LG Counter-Depth MAX Zero Clearance Refrigerator earned the TWICE CES Picks Award, lauded for its space-saving features and smart technology. 9to5Toys named the LG Indoor Gardening Appliance Best of CES 2025, acknowledging its advanced features that bring gardening into the home with ease and efficiency. Additionally, both Apartment Therapy and The New York Times selected the LG Signature Over-the-Range Microwave as a Best of CES 2025 pick, recognizing its premium design and intuitive features that elevate the kitchen experience.
LG’s latest innovations have also received widespread recognition across top media outlets. Bloomberg, CBS News, Forbes and the New York Post have lauded LG’s groundbreaking products, further emphasizing the company’s impact on consumer technology and design, praising their cutting-edge features and design.
Highlights from LG’s over 100 awards and recognitions earned at CES 2025 include:
LG OLED evo G5 Highlights
CNET: Best in Show, All the Eye-Popping Tech That’s Wowed Us at CES 2025, The 32 Gadgets and Ideas We Can’t Stop Thinking About, Best of CES Winners ZDNet: Best TVs of CES 2025, 24 most impressive products from CES 2025 Wired: 11 More of the Most Fun Things We’ve Seen at CES Tom’s Guide: Best of CES 2025, The 8 best TVs of CES 2025 Mashable: Best of CES 2025 LG StandbyME 2 Highlights
Mashable: CES 2025 highlights: What We’ve seen so far USA Today: LG’s StanbyMe 2 smart TV is a real head-turner The Verge: The weirdest tech at CES 2025, The best stuff we’ve seen at CES so far, Best Sequel PC World: Best of CES 2025, The 10 best monitors of CES 2025, Best Monitors of CES 2025 TechRadar: Best of CES 2025 LG UltraGear Bendable Gaming Monitor (45GX990A) Highlights
CTA: CES Best of Innovation Award; Gaming & eSports, CES Honoree; Gaming & eSports TechRadar: Best of CES 2025 BGR: Best of CES 2025 9 to 5 Toys: Best of CES 2025 CNET: All the Eye-Popping Tech That’s Wowed Us at CES 2025 LG AeroCatTower
Mashable: CES 2025 highlights: What We’ve seen so far, CES 2025: LG’s aur-purifying cat tower is purrfect for pet owners The Verge: The weirdest tech at CES 2025, The best stuff we’ve seen at CES so far Robb Report: Best of CES 2025, The Best, Wildest and Weirdest Things We Saw at CES This Year CNET: The 32 Gadgets and Ideas We Can’t Stop Thinking About LG Signature Smart Instaview Microwave
CNET: LG Built the Perfect Fancy Microwave for Social Media, CES 2025: 20 New Products and Ideas We’re Obsessed With, Most Innovative New Products From CES 2025: Rollable Laptop, Solar Car, More, All the Eye-Popping Tech That’s Wowed Us at CES 2025, The 32 Gadgets and Ideas We Can’t Stop Thinking About The New York Times: Best of CES 2025 The Kitchn: Best in show 2025 For more information on LG’s award-winning products at CES 2025, visit link hidden, please login to view.
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By News Reporter
With K-pop’s influence spreading across the world, India is leading the way outside of Korea. Over the last decade, the unique music genre’s infectious beats, charismatic idols and vibrant performances have captured the hearts of millions of youthful Indians. The K-pop fandom here has evolved into a thriving community over the years thanks to social media and streaming platforms.
Recognizing this passion for Korean culture, LG India recently brought the unrivaled energy of K-pop closer to India’s young population by establishing a platform that celebrates cultural expression, seeks to discover talent and creates memorable moments for everyone.
At the forefront of these efforts is the “All India K-POP Contest,” a large-scale celebration of talent, music and cultural harmony, and a must-attend event on every Indian K-pop fan’s calendar.
This year’s contest saw thousands from cities across India compete in multiple rounds, culminating in a grand finale with electrifying performances by globally acclaimed K-POP bands like LUN8. This celebration of K-POP gave up-and-coming performers the chance to shine on the national stage, with exciting opportunities including trips to South Korea and state-of-the-art audio equipment to kick-start their musical journeys.
The contest began with a staggering 2,496 auditioning online in one of the biggest K-POP talent hunts ever held outside of Korea. The best 281 of them progressed to the next round – regional tournaments held offline in Kohima, Itanagar, Ahmedabad, Bhopal, Hyderabad, Chennai, Lucknow, Bengaluru, Mumbai, Kolkata and Delhi. From there, 281 became 27 for the semi-finals, with the competition growing more intense and competitive with each passing round.
The illustrious semi-final judging panel featured esteemed figures Yoonhyeok, Jaemin (NTX), Ha Minwoo, Jay Kim, Ahn Hanbyeol and Sushil Chhetri, each bringing their own expertise and passion to ensure a fair, competitive contest. The evening closed with a live performance by popular K-POP band NTX in front of a 2,500-strong audience, who danced along to their dynamic choreography and captivating music. Twelve semi-finalists, including two LG Wild Card entries, advanced to one of the most highly anticipated events of the year – the grand finale.
The grand finale, which took place at Yashobhoomi, India’s largest convention center in New Delhi, delivered breathtaking performances, impressing the judges and 4,000 fans in attendance. The evening even hosted globally acclaimed K-POP band LUN8, known for their infectious energy and chart-topping hits, creating an immersive K-POP experience that left the audience in awe.
Once all the performances had concluded, this year’s K-POP champions were announced as Abhipriya Chakraborty in the vocal category and The Trend, one of the LG Wild Card entries, in the dance category. Their victories earned them an all-expenses-paid trip to South Korea. Despite falling at the last hurdle, the runners-up were given LG XBOOM audio products to support their musical aspirations.
The resoundingly successful All India K-POP Contest 2024 gave a platform to young talent and united fans from across the country. By merging global cultural phenomena like K-POP with meaningful initiatives, LG continues to resonate with its Gen Z consumers, fostering their boundless creativity and self-expression.
This giant effort aligns with LG’s commitment to strengthening ties with younger generations and reaffirming its Life’s Good brand promise through the border-transcending power of music and culture.
Contributed by LG India
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By News Reporter
SEOUL, Dec. 10, 2024 — LG Electronics (LG) has announced a partnership with creative artist, multi-platinum musician, and tech entrepreneur, will.i.am, to launch a new line of audio products under the brand “
link hidden, please login to view.” The partnership aims to transform xboom into a culture-forward brand with an urban aesthetic, providing an all-new audio experience. In this partnership, LG has appointed will.i.am as LG xboom’s “Experiential Architect.” He will play a pivotal role in carving out a new space for xboom in the audio industry. Drawing inspiration from his pop culture and technological know-how, will.i.am will provide strategic counsel for LG xboom’s product development, design and brand marketing. By combining LG’s advanced technologies with will.i.am’s unique insights as a world-renowned music artist and tech entrepreneur, this partnership will infuse LG xboom products with fresh creative aspirations.
“Working with renowned tech and lifestyle innovator, LG, opens the door to groundbreaking and dynamic experiences that speak to a broader community of music enthusiasts,” said will.i.am. “By bringing our cutting-edge technology and distinctive creative visions together with LG xboom, we want to foster an iconic culture where people can explore their passion for music with others on a whole new level.”
The 2025 line of “xboom by will.i.am” products, including Bluetooth speakers and wireless earbuds will be unveiled at CES 2025. The xboom Buds will be the first product available in the market.
All “xboom by will.i.am” products bear the mark of will.i.am, who took part in creating LG xboom’s signature sound that boasts a rich bass with a balanced and warm tones. It comes in two distinct modes for listening: one mode provides stimulating sounds that gets you moving with powerful bass while a second mode offers a soothing sound with harmonious tones. The overarching design for LG xboom aims to elevate music enjoyment. Speakers incorporate clever embellishments such as easy-to-hold straps and colorfully interactive lighting that is in sync with the beat of the music being played. Earbuds are designed ergonomically with ear tips and ear hooks for a comfortable fit that also delivers the best sound experience.
“This launch marks the integration of our wireless earbuds and Bluetooth speakers into one audio brand, LG xboom,” said Lee Jeong-seok, head of LG Media Entertainment Solution Company’s audio business division. “We are thrilled to announce this partnership with will.i.am that will play a critical role in solidifying LG xboom’s new identity.”
All “xboom by will.i.am” products will be integrated with will.i.am’s RAiDiO.FYI, an AI-powered interactive audio experience, to introduce a new generation of listeners to infotainment. RAiDiO.FYI empowers listeners with unique abilities to immerse, personalize and have a two-way real-time conversation with their favorite topic-based STAiTiONS. This conversational media platform transforms radio as we know it into a new dimension, connecting consumers deeper with the music, talk radio and cultural content they love.
LG and will.i.am will celebrate this new partnership with product showcases and tech demonstrations at CES 2025 (January 7-10). To know more about “xboom by will.i.am”, please visit .
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By News Reporter
Company Achieves Highest Third-Quarter Revenue and Sustains
Year-Over-Year Growth for Four Consecutive Quarters
SEOUL, Oct. 24, 2024 — LG Electronics Inc. (LG) today announced its third-quarter 2024 consolidated revenue of KRW 22.18 trillion and an operating profit of KRW 751.9 billion. This revenue marks the highest ever for a third quarter, while the operating profit ranks as the fourth highest in the company’s history.
Several external factors impacted the third quarter, including a prolonged delay in market demand recovery and ongoing geopolitical conflicts worldwide. These challenges led to a rise in global shipping expenses, contributing to increased costs.
Despite these obstacles, LG has achieved year-over-year revenue growth for four consecutive quarters by upgrading its business portfolio. This includes transforming business methods and models and expanding B2B operations. These efforts have allowed LG to partially offset the unavoidable cost increases, enabling the company to maintain a robust operating profit, signifying the retention of strong fundamental competitiveness.
Looking ahead, LG plans to further accelerate its business transformation by expanding home appliance subscriptions, direct-to-consumer (D2C) sales and volume zone product sales. In addition, the company aims to drive steady growth in the B2B sector while also expanding platform-based content and service businesses.
The LG Home Appliance & Air Solution Company generated third-quarter revenue of KRW 8.34 trillion and an operating profit of KRW 527.2 billion. Compared to the same period last year, revenue increased by 11.7 percent and operating profit by 5.5 percent. Despite challenging external conditions, LG’s home appliance business outperformed its peers, reaffirming its top-tier competitiveness. Even with the delayed recovery in global appliance demand, the rapid growth of the subscription business model and B2B HVAC business drove revenue expansion. Although the surge in logistics costs in the second half of the year significantly impacted operating profit, the company achieved results exceeding the same period last year, thanks to revenue growth and exceptional manufacturing competitiveness.
In the fourth quarter, market conditions are expected to gradually improve, as indicated by improvements in leading economic indicators in major countries and interest rate cuts. LG plans to diversify its home appliance lineup and pricing strategy to meet the growing demand in emerging markets, while also expanding new businesses such as subscriptions and D2C sales to maintain revenue growth. The company will continue to focus on efficient operations, considering the seasonal increase in marketing expenses, to secure profitability.
The LG Home Entertainment Company posted third-quarter revenue of KRW 3.75 trillion and an operating profit of KRW 49.4 billion. Revenue increased by 5.2 percent compared to the same period last year, driven by increased shipments in Europe – a key market for OLED TVs. Although the cost burden increased significantly due to a sharp rise in LCD panel prices, the continued growth of the webOS-based content and services business minimized the impact on overall profits.
In the fourth quarter, the TV market is expected to see slight growth, primarily in entry-level products, compared to the same period last year. LG plans to respond flexibly to changes in TV market demand while accelerating growth by expanding its webOS partnerships to increase its user base.
The LG Vehicle component Solutions Company reported third-quarter revenue of KRW 2.61 trillion and an operating profit of KRW 1.1 billion. Revenue increased compared to the same period last year but slightly decreased from the previous quarter due to a slowdown in electric vehicle (EV) demand. Operating profit also declined, impacted by increased R&D expenses for securing software-defined vehicle (SDV) technology and preemptive investments for mass production of order volumes.
The market in the fourth quarter is expected to maintain a growth trend compared to the same period last year and the previous quarter. However, growth is anticipated to slow due to stagnant EV demand. LG plans to focus on sales growth based on its secured order backlog and on strengthening the market position of its main products, including telematics, AVN and motors. Additionally, the company will continue efforts to improve efficiency across its operations and pursue profitability.
The LG Business Solutions Company reported third-quarter revenue of KRW 1.40 trillion and an operating loss of KRW 76.9 billion. Revenue grew year-over-year due to increased sales of strategic products such as gaming monitors and LED signage, as well as securing large-scale B2B orders for PC products. However, the operating loss expanded due to rising LCD panel prices, increased logistics costs, intensified competition and higher investments in nurturing new businesses within the Company.
In the fourth quarter, demand for strategic product lines including gaming monitors and LED signage is expected to grow by double digits compared to the same period last year. Additionally, the rising interest in AI PCs is anticipated to boost demand for premium laptops. Consequently, the Company plans to expand sales of strategic products and focus on improving profitability through efficient operations.
Meanwhile, following a board resolution last month, LG decided to discontinue its battery pack business. As a result, starting from the third-quarter earnings report, related revenue and operating profit will be treated as discontinued operations in the financial statements. This will also lead to adjustments in past revenue and operating profit figures.
Earnings Conference and Conference Call
LG Electronics will hold a Korean / English conference call on October 24, 2024, at 16:30 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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By News Reporter
Company Sets New Record for Third Quarter Revenue
SEOUL, Oct. 8, 2024 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the third quarter of 2024, reporting a consolidated revenue of KRW 22.17 trillion and an operating profit of KRW 751.1 billion.
The company achieved record-high quarterly revenue, marking its fourth consecutive quarter of year-over-year revenue growth since the fourth quarter of 2023. However, operating profit declined compared to the same period last year due to increased logistics and marketing expenses in the second half of 2024. In a conference call held after the second quarter earnings announcement, the company mentioned the average maritime freight rate per container is expected to increase by approximately 58 percent year-over-year in the second half and marketing costs, including advertising expenses, are expected to rise.
For the first three quarters of 2024, cumulative revenue reached KRW 64.96 trillion, accompanied by an operating profit of KRW 3.28 trillion.
Despite challenges such as delayed demand recovery, rising raw material prices and shipping costs, LG has steadily increased its revenue over the past three quarters. The company’s efforts to upgrade its business portfolio—through changes in business models and methods and by strengthening its B2B operations, which are less sensitive to economic fluctuations—have sustained its growth and enhanced its core competitiveness.
Key initiatives, such as the introduction of subscription service business models and the expansion of volume-zone lineups alongside direct-to-consumer (D2C) sales, have driven consistent sales growth in core business areas like home appliances. On the profitability front, LG’s rapidly growing platform-based content and service businesses are increasingly contributing to overall operating profits.
In the home appliance sector, LG’s subscription services business continues to expand. Although third-quarter profitability was impacted by increased shipping costs and slower demand recovery in key markets, the company plans to address these challenges by diversifying its product portfolio, growing its online sales and tailoring offerings to meet regional market needs.
Although LG Magna e-Powertrain has experienced some impact from demand stagnation in electric vehicles, the vehicle components sector is ensuring a steady supply for its orders, which are already around KRW 100 trillion. Meanwhile, LG aims to increase sales of high-value-added products, including advanced driver assistance systems.
In the home entertainment sector, OLED TV demand saw a gradual recovery in key markets such as North America and Europe during the third quarter. However, increased cost for LCD panel prices compared to the same period last year affected overall profitability. LG’s webOS-based content and service business, a key contributor to the business’ operating profit, is expected to continue its rapid expansion. The company plans to strengthen its content offerings, enhance user experience, expand its ecosystem and boost its advertising business to drive future growth.
In the business solutions sector, LG is intensifying its customized offerings for specific verticals, leveraging its diverse product lineups. The company plans to expand its premium IT lineup, including AI PCs and gaming monitors, and secure future technologies such as virtual production solutions to support the ongoing growth of its commercial display business. Investments in promising new ventures, including robotics and electric vehicle chargers, will also continue steadily.
These figures are tentative consolidated earnings based on K-IFRS provided as a service to investors prior to LG Electronics’ final earnings results, including net profit. Details regarding each division will be announced officially later this month.
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