By News Reporter
Highest Quarterly Sales Ever As Mobile Division Officially Winds Down
SEOUL, July 29, 2021 — LG Electronics Inc. (LG) announced its highest quarterly revenues ever as the company continued to expand its market share for premium home appliances and consumer electronics outside of South Korea. Worldwide consolidated revenues of KRW 17.11 trillion (USD 15.26 billion) rose 48.4 percent from the second quarter a year ago. Second-quarter 2021 operating profit increased 65.5 percent from last year to KRW 1.11 trillion (USD 992.08 million). Results for the LG Mobile Communications Company, which officially winds down at the end of July, are considered discontinued operations and are no longer included in quarterly earnings reports.
The LG Home Appliance & Air Solution Company reported revenues in the second-quarter of KRW 6.81 trillion (USD 6.08 billion), a healthy increase of 32.1 percent from the second quarter a year ago. Operating profit grew 6.8 percent from last year’s second quarter to KRW 653.60 billion (USD 582.75 million), mainly driven by stronger sales in markets outside of South Korea and improved resource management, although costs are expected to increase as raw materials become scarcer while the pandemic-impacted world begins to return to normal. Product competitiveness and operational efficiencies are expected to help LG maintain sales and profit momentum for major appliances in key markets.
The LG Home Entertainment Company grew its revenues to KRW 4.04 trillion (USD 3.60 billion) in the second quarter, a substantial 79.1 percent increase compared to the same period last year. Operating profit soared to KRW 333.50 billion (USD 297.35 million), an increase of 216.4 percent year-on-year thanks to the growing popularity of premium OLED TV products and the recovery of the global TV market, which was negatively affected last year due to retail store shutdowns. With the price of TV panels continuing to rise, LG’s Home Entertainment strategy will center on growing the premium TV segment and nimble inventory management.
The LG Vehicle component Solutions Company achieved second-quarter sales of KRW 1.88 trillion (USD 1.68 billion), a significant increase of 106.5 percent from the same period of 2020 as a result of the recovering automotive sector and increase in demand for electric vehicle (xEV) parts. The company experienced an operating loss of KRW 103.20 billion (USD 92.01 million) as the price of automotive semiconductors increased dramatically during the quarter. Leveraging its expertise in advanced electric vehicle components, LG’s previously announced joint venture with Magna International, a new company called LG Magna e-Powertrain, was officially launched this week.
The LG Business Solutions Company recorded second-quarter revenues of KRW 1.69 trillion (USD 1.50 billion), a solid increase of 28.9 percent from a year ago largely driven by continued strong demand for PCs, monitors and gradual recovery of digital signage and hotel TVs. However, operating profit declined to KRW 61.70 billion (USD 55.01 million) because of higher price of key components such as LCD panels and solar wafers. Second-half plans for profitable growth hinge on continued B2B market recovery, coupled with stabilizing supply of major components and actively reducing costs.
2021 2Q Exchange Rates Explained
LG Electronics’ unaudited quarterly earnings results are based on IFRS (International Financial Reporting Standards) for the three-month period ending June 30, 2021. Amounts in Korean won (KRW) are translated into U.S. dollars (USD) at the average rate of the three-month period of the corresponding quarter — KRW 1,121.58 per USD.
Earnings Conference and Conference Call
LG Electronics will hold a Korean / English conference call on July 29, 2021 at 16:00 Korea Standard Time (07:00 GMT/UTC). Conference call participants are instructed to pre-register online to receive a private PIN, 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 before the call.
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By rami zapi
Hi all, i have 2018 LG webOS TV UK6540ptd , my tv and laptop both connected to same wifi. when i try connect my laptop for screen share this message come up to LG TV.
request screen sharing to your tv - Decline unable to connect for screen share
my laptop is windoes 10 64 bit
anyone can help me fix this issue.
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By News Reporter
In this final episode of our six-part AI Experience series, we examine the dynamics of the human-AI relationship and what that will mean for the evolution of the technology.
Throughout history, humans have always been masters of the technologies and machines they have created. But with artificial intelligence, the dynamics of this relationship may change. Distinct from other technologies in that it can learn from interactions and usages, AI is perhaps most recognizable today as the virtual assistants we call by name when we want something, whether that be information or the kitchen lights to turn off. As AI continues to evolve, it is expected to outgrow this role as helper to become more of a companion.
Even now, AI-enabled devices are able to provide some degree of companionship. For the elderly or others living on their own, products such as smart speakers can offer a valuable sense of connection, responding verbally to queries in more conversational ways. Beyond the comfort of another voice and the feeling of a sympathetic (and synthetic) ear, AI machines can also provide a degree of safety by connecting users to relevant services when needed. If we take that one step further, AI systems will in the future be able to perceive changes in our behavior to determine our moods and respond appropriately, making it easy for humans to forget that they’re still communicating with a machine.
Below, we take a look at five different areas concerning the constantly evolving relationship between humans and AI.
Human-AI collaboration is already having an impact on how we perform tasks and make decisions, although its scope is somewhat limited at this time. Once the technology has reached a certain point where we can better understand context, motivation and non-verbal cues, AI will then be able to contribute to genuinely collaborative endeavors, meaningfully helping us to increase our capabilities and knowledge in almost every arena imaginable.
“We are all interesting creatures, not because we exist in a vacuum and we can just think on ourselves, we’re interesting because we interact with others,” said Charles Lee Isbell Jr., dean of computing at Georgia Institute of Technology. “We learn by interacting with others, they get transferred knowledge generation to generation. And I think that is sort of where the sweet spot is around AI.”
Collection of data is crucial to machine learning and its continuing improvement. Going forward, it’s critical that what AI learns should be made as transparent as possible. Experts from a diverse range of disciplines should be actively involved throughout AI’s development to ensure the learning process itself is robust, representative and ethically sound. Learning about AI and its implications is something everyone – not just those directly involved in its creation – should invest time in, as education may help us to predict and avert future challenges and threats.
Professor Zafiroglu of 3A Institute advocates a multidisciplinary approach, urging the next generation of AI practitioners to “go out into the world and work in a variety of settings, from policy and industry to academia and education at the non-university level to think tanks as well as product and strategy teams.” Incorporating different perspectives and learnings into AI will help to forge intelligent systems that can work with, as well as for us.
Having empathy means the ability to understand and share someone else’s feelings, a distinctly human trait. For AI to be able to detect the emotional state of a user and respond appropriately, it will need the capacity to recognize body language, tone of voice and most probably, physiological changes. Once it can do all of these things, and accurately interpret the demands of the specific context, AI will become immeasurably more helpful. For instance, recognizing an individual’s concern about a job interview, an empathetic AI could help alleviate this concern by generating a list of interview questions, providing feedback on answers or recommending the optimal route to the interview venue.
With the obvious benefits of an AI with high emotional quotient also come considerable risks with regards to privacy so a safety net should be put in place to prevent its misuse. The European Union and many governments worldwide are currently addressing the question of how to ensure effective oversight for high risk AI technologies. At the same time, the companies providing these technologies will need to demonstrate that next to delivering value, user safety is their main concern.
As with any relationship, the human-AI relationship will require time and effort to develop properly. Humans must accept that AI will take a certain amount of time to learn from and adapt to their behaviors and preferences and to acquire new skills. Users should also understand that fallibility is not a one way street as AI is learning from them. Users also have to contend with any biases, preconceptions or misconceptions they may have, which can affect the nature or outcome of an interaction.
Whether AI incorporates bias purposefully or not, we must consider the consequential nature of decisions that AI systems are making. Either way, our relationship with AI will be just like our relationship with each other. In other words, it’s going to take time and effort.
The way we interact with an AI solution is directly influenced by the design of its interface. Some forms of AI are more collaborative in nature, requiring frequent human input to deliver maximum value, while others run quietly in the background, automating our lives and supporting us with infrequent interaction. Different types of systems obviously necessitate different kinds of interfaces but it must ultimately be intuitive to use if it is to gain greater acceptance and wider adoption. Along with ease of use, interoperability is something that companies must work towards if AI is to flow seamlessly from one area of our lives to another.
“There are no standards of interoperability,” states Gabi Zijdervel, chief marketing officer and head of product strategy at Affectiva. “I believe a consortium of industry will have to come together to solve this, cross-vertical and cross-use cases.”
Although some still fear that AI will replace actual humans, the more likely future is one companionship and partnership. With the foundation already in place, we can look forward to a more equal and rewarding relationship with AI, not to mention a shining new chapter in the history of humankind.
For more on this topic, visit . Developers and potential partners interested in LG’s ThinQ Platform should check out .
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