By News Reporter
In this installment of On the Job, we put the spotlight on a few of the talented and creative individuals who make our products come alive.
From dazzling nighttime displays on buildings to state-of-the-art screens in stadiums, LEDs are literally everywhere. LED, or light-emitting diode, has become the lighting technology of choice in cars, homes and consumer electronics. Recently a new form of LED has entered our lexicon and piqued the public’s interest because of its size, or lack thereof – Micro LED.
It would be a serious understatement to say that Micro LEDs are small. Micro LED refers to tiny, individually addressable, self-emissive LED light sources measuring between 10 to 100 micrometers in size. A Micro LED display comprises an array of microscopic LEDs with a gap no bigger than one millimeter between them. Turning this new LED technology into a viable commercial display was the challenge facing the LG MAGNIT product design team. To bring LG MAGNIT to life, the team at LG’s Design Lab aimed to create a slim, lightweight product that offered hassle-less installation, next-level flexibility and an attractive aesthetic.
From left: Lee Yong-ho, Park Chan-woo, Kihl He-won, Hwang Jung-yeon
LG MAGNIT is made up of an array of microscopic LEDs with a gap no bigger than one millimeter between them. These tiny LEDs are capable of improved brightness and color accuracy than conventional LCD displays and make it possible to produce a near-infinite variety of screen sizes. Micro LED displays also offer additional benefits such as energy efficiency and fast response time.
The clever block-assembly design is one of the most creative features of LG MAGNIT. Each Micro LED “cabinet” links seamlessly to other cabinets, allowing installers to quickly and easily construct large-scale display on any site. Thanks to the MAGNIT design team’s use of non-contact connector technology, sending and receiving signals wirelessly between cabinets is a cinch, simplifying and reducing the time needed for cable management.
The product design team also made sure that LG MAGNIT’s wireless data transfer technology made for easier content management as well. This design allows users to simultaneously display the same content across any number of LG MAGNIT solutions without having to configure a wired network connection. What’s more, the clever block-assembly power docking mechanism developed specifically for LG’s micro LED signage can shorten installation time by up to 33 percent.
To create a visually-striking, premium look, the LG MAGNIT product design team opted to use pressed metal for the rear-casing instead of typical plastic. Not only does the metallic finish look great, but it also reduces the overall weight and cost of the product and offers excellent durability as well. With its distinctive triangular motif, the cover resembles an expertly-cut diamond that makes LG MAGNIT a pleasure to behold from all angles.
The successful efforts of LG’s product designers to realize the sleek, premium design of LG MAGNIT have not gone unnoticed. With its innovative clever block-assembly concept, the Micro LED signage solution won a Bronze Award at the 2020 International Design Excellence Awards (IDEA), one of the world’s top three design competitions. The accolade was well deserved recognition for a team that continues to excel at finding new ways to solves problems and deliver on LG’s mission to make life better.
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By News Reporter
Highest Quarterly Revenue and Operating Profit in Company’s History
SEOUL, Apr. 29, 2021 — LG Electronics Inc. (LG) today announced first-quarter 2021 consolidated sales of KRW 18.81 trillion (USD 16.90 billion) and operating profit of KRW 1.52 trillion (USD 1.36 billion) – the highest quarterly results in the company’s history with the 8.1 percent operating profit being a first-quarter record. Compared with the first quarter a year ago, revenues grew by 27.7 percent and profitability soared by 39.1 percent, reflecting very strong demand for LG home appliances and home entertainment products as consumers around the world continue to spend more time at home.
The LG Home Appliance & Air Solution Company generated first-quarter sales of KRW 6.71 trillion (USD 6.03 billion), an increase of 23.8 percent from the previous year. Operating profit of KRW 919.90 billion (USD 826.39 million) was 22.1 percent higher than the first quarter last year. For the second consecutive quarter the appliance business division saw significant growth year-on-year in North America and Europe as well as in its home market of South Korea where the rental business is particularly healthy. Profitability was accompanied by stable growth led by strong sales of premium products in North America and Europe. The business unit expects to see continued growth by expanding overseas sales in new products.
The LG Home Entertainment Company recorded sales of KRW 4.01 trillion (USD 3.60 billion) in the first quarter, an increase of 34.9 percent from the same period a year ago. Operating income grew 23.9 percent year-on-year to KRW 403.80 billion (USD 362.75 million), buoyed by strong sales in North America and Europe. Premium products led by OLED and NanoCell TVs continued to experience strong demand as the pandemic effect continued in most of the world. To maintain this success in 2021, LG will continue to enhance its premium product lineup, further expand online sales, optimize resources and streamline asset management.
The LG Mobile Communications Company reported sales in the first quarter of KRW 998.70 billion (USD 897.18 million) with an operating loss of KRW 280.10 billion (USD 251.63 million). Operating loss deteriorated 28 percent from the same quarter a year ago due to the lack of new products in light of the public announcement earlier this month that LG will exit the smartphone business at the end of July. Profit and loss for discontinued operations – including a breakdown of continuing and discontinued operations – will be included in the second quarter results.
The LG Vehicle component Solutions Company achieved first-quarter sales of KRW 1.89 trillion (USD 1.70 billion), an increase of 43.5 percent from the same period last year. Operating loss narrowed to KRW 700 million (USD 629,000), which can be attributed to the recovery of the automotive sector in North America and Europe as well as increased revenues from new projects in the e-Powertrain and infotainment sectors and better cost management.
The LG Business Solutions Company saw improved first-quarter revenues of KRW 1.86 trillion (USD 1.67 billion), an increase of 9.1 percent from a year ago and 23.6 percent higher than the previous quarter largely on the back of strong demand for products such as monitors and PC products in the era of remote working and online learning. Operating profit of KRW 134 billion (USD 120.38 million) declined from the same quarter last year due to the increasing cost of components such as LCD panels and semiconductors.
2021 1Q Exchange Rates Explained
LG Electronics’ unaudited quarterly earnings results are based on IFRS (International Financial Reporting Standards) for the three-month period ending March 31, 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 1,113.16 per USD.
Earnings Conference and Conference Call
LG Electronics will hold a Korean / English conference call on April 29, 2021 at 16:00 Korea Standard Time (07:00 GMT/UTC). Conference call participants are instructed to to receive a private PIN number then call +82 31 810 3130 and enter passcode 6418# and the private PIN number. The audio webcast of the call will be available for streaming as well. The corresponding presentation file can be downloaded from the LG Electronics before the call.
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My NEW LG 4k UHD is suddenly showing a Factory Mode floating message on Power startup...
All the information I've read (including LG online & TV documentation) DOESN'T mention this mode and how to restore User Mode...
Is this really a Smart TV ??