By News Reporter
The era of autonomous vehicles is fast approaching with expert forecast that approximately 8 million autonomous or semi-autonomous vehicles will be on the road by 2025. This will soon make the task of driving pass into history, relieving drivers from the burden of having to keep their eyes on the road and stay put behind the steering wheel. In other words, the driver will become another passenger, able to spend their time in the car in more enjoyable ways and in much greater comfort.
One way for companies in this rapidly growing field to gain a competitive edge is to transform the car into a pleasant space offering experiences that can stimulate passengers’ senses such as sight, sound and touch. For instance, sound can be used as a powerful tool that can elicit emotions and sculpt the vibe of a given environment while lighting can play a key role in dramatically altering the mood of a space. Used and combined in different methods, such sensory information can help reimagine and reinvigorate the in-vehicle experience, enabling it to travel in a multitude of exciting directions.
Encompassing both sight and sound, AVN – short for Audio, Video and Navigation – can contribute to memorable in-vehicle experiences. AVNs comprise a range of electronic devices including a radio receiver, GPS navigation unit and user-interface technologies such as a touch screen or voice control. Through its constituent parts, an AVN system can provide a wealth of vehicle- and environment-related information as well as a variety of entertainment options to keep passengers amused on the road.
Next-generation AVNs are expected to evolve even further, leveraging high-end audio, impressive display tech and other immersion-enhancing features to turn our vehicles into private movie theaters, relaxing café-bars and more. They’ll also help to make cars ideal places for everyday activities, such as having meetings, watching TV or even doing some online shopping.
Aware of this fact, LG has been focused on developing quality AVNs for several years now. According to research conducted by eBEST Investment & Securities Co., Ltd, the company ranked second in the global AVN sector in 2021 with a market share of 12 percent. To understand LG’s vision for the future of automobiles and how it plans to implement AVN technologies and features that engage the five senses, look no further than the groundbreaking
link hidden, please login to view concept car. First introduced at CES 2022, LG OMNIPOD acts as an extension of the home, serving as a lounge, workspace, exercise studio or whatever its occupants need.
A fully autonomous vehicle, LG’s innovation incorporates expansive screens that can surround passengers with the content of their choice. The tunnel screen (Meta-environment Screen), which reaches from the floor to the ceiling, is key to the truly mesmerizing experiences that OMNIPOD can provide. With its suite of seamless multimedia displays, the vehicle becomes the perfect venue for enjoying movies – enabling passengers to feel like they are participating in, rather than watching, the on-screen action. Additionally, LG OMNIPOD automatically adjusts the screens according to passengers’ needs to ensure the optimal environment for productivity or play. Although impressive in and of themselves, these features are just a small part of what LG OMNIPOD has to offer.
Future mobility brings together the very latest advancements, such as autonomous driving technology, artificial intelligence, the cloud and 6G, all of which have previously been discussed in the series. Guided by its vision for better in-vehicle experiences, the LG Vehicle component Solutions (VS) Company will continue to accelerate innovations that satisfy the senses and drive customer value to ever-greater heights.
Discover more at .
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By News Reporter
Company Pursues New Growth Engines,
Enhancing Customer Experience at Every Contact Point
LG will innovate with a platform-based service business model that continuously generates profits, such as content and services, subscriptions and solutions, to the hardware-oriented businesses, which generate sales and profits at the time of purchase. This is part of the company’s attempt to create a business model centered on customer engagement, combining services with hundreds of millions of LG devices used by customers around the world.
To start, as of the end of this year, LG’s TV business is projected to make a great transformation based on its webOS operating system, which powers more than 200 million smart TVs around the world. In line with this, the company intends to transform its TV business portfolio into a “media and entertainment service provider” by expanding content, services and advertisement in products, including LG OLED and LG QNED TVs, which have differentiated competitiveness.
The company will invest more than KRW 1 trillion over five years to strengthen the content competitiveness and drive growth of LG Channels – an advertising-based free broadcast platform. LG Channels increased from 20 million users in 25 countries last year to 48 million users in 29 countries this year. To achieve quantitative growth, LG will expand customer contact points by increasing the supply of the webOS platform to external TV brands and expand the application of webOS to other product groups.
Household appliances are also speeding up the transformation of service-based portfolios. The goal is to further evolve LG ThinQ UP appliances that upgrade functions customers need even after purchase and evolve into a “Home as a Service” platform that combines hyper-personalization, subscriptions and smart home services. LG ThinQ will support the emerging home solutions business that encompasses the entire house by adding services that customers need in the home complementing connected devices.
The home appliance rental and care service business is also expanding to include all services necessary for spaces in the house, including product maintenance, management and cleaning. The compound annual growth rate of LG’s rental and care service sales has exceeded 30 percent over the past five years.
Accelerating the expansion of its B2B businesses, the company aims to evolve its electric vehicle (EV) business into a top electric component part provider worth more than KRW 20 trillion by more than doubling sales by 2030. Responding to trends, such as vehicle electrification and connected services, LG is actively seeking new opportunities in future mobility areas, such as autonomous driving, software solutions and content. The order backlog of LG’s Vehicle component Solutions Company is expected to reach KRW 100 trillion by the end of the year, showing the competitiveness of the business.
By 2030, LG aims to double sales for its heating, ventilation and air conditioning (HVAC) business and become a global top-tier comprehensive air conditioning company. The company also plans to discover organic strategies, such as completing mergers and acquisitions and making equity investments. The company is establishing a localized business structure that covers research and development, production, sales and maintenance of air conditioning projects in major regions such as North America and Europe. Also, LG will preemptively prepare for the future in energy service sectors, such as energy storage systems, home energy management systems and virtual power plants.
In the case of built-in home appliances, the company will expand markets in North America and Europe, which account for more than 70 percent of the global market and foster LG to become one of the top five built-in appliance brands. Commercial displays provide customized solutions for each specific customer group and secure growth momentum.
Over the past two years, considering market conditions and evolving business model strategies, the company boldly exited its mobile phone and solar panel businesses and, instead, focused resources on future high-growth areas. In the future, LG plans to accelerate future development by selecting and concentrating on new businesses that are expected to have similarly high growth potential.
The company is also continuing its strategic investment in digital healthcare, a key focus of the North American Innovation Center known as LG NOVA based in Silicon Valley, California. The scale of investment in LG NOVA is also on the rise. Among other LG NOVA-led initiatives, LG is providing remote medical treatment solutions in North America through the partnership with Amwell, a U.S. telemedicine company. In the future, the company will consider expanding its services through strategy investment to preventative and follow-up management.
LG’s EV charging business has an aim to provide an integrated solution that encompasses the control area, not just the sales of chargers. The company recently launched four products in South Korea through its affiliate company HiEV Charger and will expand markets to Europe and Asia next year. LG also plans to start building additional production bases within the year to target the North American market.
The company is also establishing a wide range of strategic collaborations in the metaverse. Mixed Reality devices are continuously being developed jointly with leading global platform companies, while the development of Augmented Reality devices is underway at the Korean Ministry of Science and ICT’s project to advance the development of AR Glass Advancement and the building of content production ecosystem. Various efforts are also being made to provide a more immersive experience on large screens, such as TVs.
Breaking Business Limitations via Full Potential Strategy
LG has been operating a company-wide task force to preemptively respond to changes in the business environment. The task force aims to not only reduce short-term costs but also promote fundamental changes in business structure and methods to maximize business potential, securing suitable profit levels and promoting sustainable growth despite prolonged economic uncertainty.
These efforts have contributed greatly to LG’s performance as well. The company’s sales and operating profit in the second quarter of 2023 were the highest ever for the second quarter. In the first half of 2023, the company recorded the second highest sales ever and the third highest operating profit. These tangible results were achieved by improving the fundamentals of the business despite the prolonged slump in global demand.
LG believes that, in order to innovate the customer experience (CX), a company needs to advance digital transformation (DX) as it is essential to have a data-based understanding of customers to reflect hidden needs – which customers may not be aware of – in products and services. In this regard, the company is making efforts to combine CX and DX to make a business model to better communicate with customers by establishing various points of contact, provide a never-before-seen CX, build organizational capabilities to research and plan differentiated CX and innovate experiences throughout the customer experience journey.
To expand customer contact points, LG will strengthen direct-to-consumer (D2C) sales through LGE.com, the company’s online brand shop, and increase operation of pop-up stores to interact with the younger generation, including Gen Z. The number of visitors of pop-up stores throughout Korea since last year adds up to 600,000.
To plan and develop new products, the company actively utilized systems internally to understand customers based on data and discover hidden needs. This includes “Lifegraphy,” a customer data analysis system, and “IC 360 (Intellytics Customer 360),” a company-wide platform that integrates and manages customer data collected from all customer contact points.
In addition, in terms of organizational capabilities, LG is defining and applying its core customer experiences to products and services through customer behavior research led by the CX Center. The company is actively making changes in customer-centric working methods, with employees voluntarily participating in campaigns to define ‘customers’ and ‘customer value.’
Spreading Change Across Organizational Culture and Brand to Business Strategy
Internally, REINVENT LG, an organizational culture innovation campaign, was put in place to change the way of working and communicating at LG. By doing this, the company hopes to reinvent the brand by having employees lead changes themselves.
Transformations have also been made to bring a dynamic and youthful look to the brand at customer contact points. Changes that redefine the brand’s core values – Uncompromising Customer Experience, Human-Centered Innovation and Warmth to Power a Smile – and add dynamism to LG’s visual identity are actively being made around the world.
Supporting the ESG vision of a Better Life for All, the company has made six core commitments: achieving carbon neutrality, circular economies, eco-conscious products, sustainable supply chains, an inclusive organizational culture, and accessible products and services.
In particular, LG plans to actively expand various activities that customers can engage in, enabling them to better relate to the company’s ESG vision and understand its meaning and significance. With ESG management not only focused on suppliers, LG’s vision also takes ESG to a new level to instill a sense of pride in consumers that they positively contributed to the environment by selecting LG’s products and services, providing an experience of increased convenience and usability.
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By News Reporter
Each year, millions of home appliances reach the end of their operational lifespans and are taken away for disposal.* However, their story doesn’t have to finish there. Through transformative processes and technologies, these discarded devices can be reborn as brand-new appliances, offering features and performance tailored to the needs and preferences of today’s consumers.
Let’s explore how old appliances are being turned into up-to-date and environmentally-conscious living solutions by one of the leading innovators in the home appliance industry.
Urban Mining: Unearthing New Resources From Discarded Appliances
‘Urban mining’ means extracting valuable resources from ‘retired’ household appliances. It involves recovering and sorting any raw materials that can be used in the creation of new products. Unlike incineration – a fate that befalls many disused appliances – this course of action helps reduce carbon emissions and prevent environmental pollution. An active urban miner, LG extracts several different materials from discarded appliances – including plastic, iron and non-ferrous metals – and then uses them to help produce its advanced, new offerings.
LG Recycling Center: Giving New Life to Old Appliances
Since the end of 2021, LG has been implementing resource circulation programs in a total of 52 countries worldwide as part of its extensive efforts to combat greenhouse gas emissions. At the LG Recycling Center in South Korea, which commenced operations in 2001, raw materials are harvested from disposed-of home appliances, meticulously sorted and processed before being made into ‘fresh’ eco-responsible appliance components.
Here are the four main steps taken at the LG Recycling Center that make it possible to turn old appliances into high-quality parts for new products.
Step 1: Collection – Used appliances such as refrigerators, washers and air conditioners are collected and transported to the center.
Step 2: Disassemble and Crush – The appliances are taken apart, and the components are crushed to achieve a consistent size.
Step 3: Sorting and Processing – After iron, aluminum, copper and plastic materials have been sorted, the plastics are put through an additional process where they are made into pellets; a convenient and renewable resource for the manufacturing of plastic parts and goods.
Step 4: Rebirth – The pellets are melted and transformed into plastic parts for use in the production of new LG home appliances.
Recycled Plastics: Giving Life to LG’s Captivating Designs
Recycled plastics play an important role in bringing the captivating designs of LG’s home appliances to life, including those of the recently launched LG Styler ShoeCare and ShoeCase. The LG PuriCare AeroFurniture air purifier and the LG tiiun mini, which come in an array of vibrant colors to enliven the home, also employ recycled plastics. Used in the construction of both products’ exteriors, these repurposed materials contribute to the aesthetic appeal of LG’s innovations and help reduce resource consumption and waste.
A Continuous Virtuous Cycle for the Planet and Consumers
LG has fully embraced a ‘Sustainable Cycle’ approach, building eco-consciousness into every stage of the home appliance lifecycle, from production and packaging to usage and recycling. The company continues to utilize recycled materials extracted and processed at the CRC in the manufacture of new appliances – appliances that minimize power consumption and emissions, and are themselves highly recyclable. In this way, LG has created a virtuous cycle that simultaneously benefits the planet and consumers.
Stepping up its efforts even further, LG plans to reach a cumulative total of 600,000 tons of recycled plastics (for producing home appliance components) by the beginning of the next decade. The ambitious target is set out in the company’s ‘Better Life Plan 2030,’ and also forms part of LG’s broader strategy to achieve carbon neutrality.
Also by 2030, LG estimates it will have recovered 8 million tons of out-of-use appliances for the purpose of extracting recycled materials.
By implementing initiatives such as proper product disposal and the extraction of materials from discarded products, LG is able to create something new from something old, showing how a firm commitment to people and the planet can help make a better life for all.
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*According to the United States Environmental Protection Agency (EPA), roughly nine million refrigerators/freezers, six million window air conditioning units and nearly one million dehumidifiers are disposed of each year. ( link hidden, please login to view)
By News Reporter
At the start of every year, almost everybody in the tech world gathers in Las Vegas to show off their newest products, technologies and concepts at CES, the world’s biggest consumer electronics show. This year, participating companies were determined to demonstrate how their innovative products and solutions help solve some of Earth’s greatest challenges and change the lives of thousands, if not millions, for the better.
Inspired by its belief that the answer is always with the customer, LG showcased its most advanced customer-centered innovations that provide entirely new value and convenience to its customers. Here are the five tech keywords for 2023 which cover the areas of personalization, sustainability and virtual reality.
Me, Myself and I
With far more people inclined to seek a living space that fully matches their personality, leading consumer electronics companies are rethinking their product development approach in order to build appliances that not only possess excellent features, but also blend effortlessly into various home interiors.
With this new attitude also comes a greater demand for personalized viewing experiences, especially as people spend more time at home since the onset of the pandemic. That’s why every TV being released is now equipped with an operating system that employs all kinds of features that help individuals find their perfect show instantly with next to no effort on their part.
Future of Mobility
Major car makers are shifting their production to electric vehicles and joining top-tier tech software companies to reimagine what a car could and should do in the future. The growing importance of the in-vehicle experience is transforming the future of automobility.
LG’s Vehicle component Solutions Company is committed to enhancing the driving experience through its expertise and know-how of vehicle parts technologies, so that its customers can develop advanced car models that make the journey more entertaining, easier and, most importantly, safer.
Lifestyle Devices for Healthier Life
After living with the pandemic for so long, people are now more concerned with their health than ever before. Under these renewed circumstances, people desire lifestyle devices and solutions that can empower them to take control of their health care and wellbeing while lowering costs at home.
In line with this trend, lifestyle devices and solutions with digital health technologies will stand out for these growingly discerning customers, who are willing to pay more for products that seem to be made for their healthier lives.
For everyone who attended or followed this year’s CES, it was clear that sustainability was a major focus. More and more companies, regardless of size and industry, are ranking sustainability higher on their business agendas, which means more companies are inventing products and services with various eco-friendly and accessible features.
LG showcased the company’s ESG vision in an exclusive exhibit through the Better Life for All zone at CES 2023, introducing a comprehensive overview of LG’s sustainability efforts.
Be in It
With the metaverse still deemed to be the future for tech, especially in the gaming industry, more and more people want cutting-edge devices that can make images or sounds that appear far more lifelike than today.
Driven by growing expectations and demand for a greater sense of reality, more innovative products that help users feel fully immersed in the digital environment will be further thrust into the spotlight in 2023.
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By News Reporter
Whether it’s a secluded, picturesque mountain cabin or a trendy downtown coffee shop, it goes without saying that the most appealing and immersive environments inspire the most creative works. With that in mind, LG Thailand recently supplied Bangkok’s new
link hidden, please login to view, one of the largest providers of coworking spaces and services for tech companies in Southeast Asia, with its high-quality commercial displays and business solutions.
Boasting more than 230,000 square meters, startups, entrepreneurs, tech giants, investors and even government agencies coexist in the connected ecosystem of True Digital Park, offering differentiated experiences to users. Under the theme of Open Innovation, it serves as a hub of the tech innovation in Thailand.
True Digital Park is divided into East and West, the former opening in 2019 and the latter more recently in 2022. As part of this partnership, LG will transform a section of the West zone’s newly opened co-working space into a lifestyle destination for tech and startup enthusiasts across the region, delivering incredibly immersive experiences through scalable designs and premium picture quality with LG LED signage to elevate the building’s “One Roof, All Possibilities” concept.
Specially curated to complete the ultimate immersive experience, LG’s commercial displays come in all kinds of shapes and sizes, such as large, curved, ceiling and interactive floor screens, with a total of 50 digital signages spread across the space to give every visitor a glimpse into the future. With each display adept at elevating HD content via vivid colors and outstanding clarity, guests can now receive endless inspiration as they work thanks to the breathtaking nature of their surroundings.
(From left to right) Jeerapa Kongswangwongsa, vice president of Business Solutions LG Electronics Indochina and head of Enterprise & IT at LG Electronics Thailand, Jung Sung-hun, managing director of LG Electronics Thailand, Thanasorn Jaidee, president of True Digital Park and Dr. Tarit Nimmanwudipong, general manager of True Digital Park
In addition to stimulating the minds of those working in this multi-purpose space through the power of its display technologies, the company is confident that LG SuperSign CMS, content management software optimized for LG webOS, will help unlock effortless content management throughout the building so that its valued partners can work more productively.
As a pioneer of LED signage solutions, LG and its leading technologies can transform any space into a state-of-the-art innovation center. Through a shared vision of True Digital Park as one of Thailand’s most successful innovation and startup hubs, LG Thailand is proud to present the company’s portfolio of unique, cutting-edge commercial displays and business solutions to customers who will truly appreciate it.
Contributed by LG Thailand
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