Second Gen LG Ergo Monitors Designed for Customized Workstations, Maximum Comfort
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By News Reporter
Company Sets New Records for Second Quarter Revenue and Operating Profit
Through Balanced Qualitative Growth in Core and Future Businesses
SEOUL, July 25, 2024 — LG Electronics Inc. (LG) today announced second-quarter 2024 consolidated revenue of KRW 21.69 trillion and operating profit of KRW 1.20 trillion, reflecting an 8.5 percent year-over-year increase in revenue and a 61.2 percent surge in operating profit. These figures mark new records for the highest second-quarter revenue and operating profit in the company’s history.
Key drivers of this performance include the home appliance and vehicle component sectors, both achieving their highest quarterly revenues to date. Sales from LG’s Home Appliance & Air Solution Company and Vehicle component Solutions Company combined reached KRW 11.53 trillion, up 8.2 percent from the previous year. Both Companies also reported record-high second-quarter operating profits, totaling KRW 776.1 billion, which represents a 45 percent year-over-year increase.
These results highlight LG’s balanced growth across its core and future businesses. This growth demonstrates not only external expansion but also solid profitability, contributing to qualitative improvements in overall performance.
LG continues to transform its business portfolio towards a future-oriented approach, maximizing the potential of existing businesses while securing new growth opportunities. The company is also focused on rapidly advancing high-growth potential new businesses.
The fast growth in LG’s B2B sector significantly contributes to establishing a future-oriented business structure. Despite a temporary slowdown in EV demand, the vehicle component business continues to grow, supported by a diversified client base of electric and internal combustion vehicles and a strong order backlog. Additionally, LG’s heating, ventilation and air-conditioning (HVAC) business, which includes high-efficiency chillers, is exploring growth opportunities within the AI infrastructure sector.
In the B2C domain, LG is accelerating the integration of new business models that combine traditional hardware sales with intangible, non-hardware offerings such as content, services and subscriptions. The webOS content and services business is expanding beyond TVs into IT and infotainment, with projected revenues set to surpass KRW 1 trillion this year.
Additionally, the subscription business, which merges products with services, is gaining remarkable momentum. After achieving success in Korea, LG is now expanding this subscription model internationally. Last year, subscription revenue exceeded KRW 1 trillion, with growth accelerating this year. In June, 36.2 percent of major home appliances sold at LG Brand Shops in Korea were subscription-based. This model, particularly popular among young Korean customers, is now being introduced to global markets. For example, LG has launched LG Rent-Up in Malaysia, offering subscriptions for nine products, including washing machines, dryers and refrigerators.
LG is also expediting the advancement of new businesses. The smart factory business, which combines the company’s manufacturing expertise with AI, is expected to secure orders worth KRW 300 billion this year, expanding its customer base in industries such as semiconductors and biotechnology. Furthermore, LG’s partnership with ChargePoint, North America’s leading EV charging company, is set to boost the EV charging business by combining ChargePoint’s chargers with LG’s commercial display advertising solutions, ‘LG DOOH Ads,’ creating new market opportunities.
The LG Home Appliance & Air Solution Company generated second-quarter revenue of KRW 8.84 trillion and an operating profit of KRW 694.4 billion. Compared to the same period last year, revenue increased by 11 percent and operating profit by 16 percent, marking the highest revenue for a single quarter and the strongest second-quarter operating profit to date.
In the second quarter, LG’s volume zone strategy – designed to address polarized market demand – proved effective by diversifying its product lineup and pricing to meet growing needs in emerging markets such as Latin America, the Middle East and Africa. Contributions from new business areas, including subscriptions and Online Brand Shop sales, bolstered the strong performance. Looking ahead to the third quarter, LG intends to remain agile in adapting to market shifts and to continue expanding its B2B sectors, particularly HVAC and built-in appliances. The recent acquisition of smart home platform company Athom is expected to create synergies within the home appliance sector. Additionally, LG will leverage its top-tier global manufacturing capabilities to secure robust profitability.
The LG Vehicle component Solutions Company achieved second-quarter revenue of KRW 2.69 trillion and an operating profit of KRW 81.7 billion. Revenue increased by 1 percent year-over-year, and the operating profit turned positive. This quarter’s revenue was the highest for any quarter, and the operating profit was the strongest for a second quarter.
Despite a temporary slowdown in the EV market during this period, LG saw growth by effectively addressing increased demand for premium in-vehicle infotainment products and plans to continue expanding its vehicle components business. This strategy includes increasing sales of premium new products as well as safety and convenience solutions, such as Advanced Driver Assistance Systems, in line with existing order programs.
The LG Home Entertainment Company posted second-quarter revenue of KRW 3.62 trillion and an operating profit of KRW 97 billion. Revenue increased by 15.3 percent compared to the same period last year, driven by a recovery in demand in Europe, a key market for premium OLED TVs. Growth also continued in the webOS content and service business. However, operating profit declined due to increased costs, including rising LCD panel prices.
Overall TV market demand is expected to show modest growth in the third quarter compared to last year, with premium OLED TVs anticipated to outperform the broader market. LG will aim to maintain operational efficiency by minimizing cost burdens, such as rising LCD panel prices, through increased sales of OLED TVs.
The LG Business Solutions Company reported second-quarter revenue of KRW 1.46 trillion and an operating loss of KRW 5.9 billion. Revenue increased by 9.9 percent year-over-year, driven by expanded sales of strategic products such as LED signage, electronic whiteboards and gaming monitors. However, profitability was impacted by cost increases, including LCD panel prices, and ongoing investments in growth areas like EV charging and robotics.
In the third quarter, market growth for premium products such as commercial displays and gaming monitors is expected to continue. The Company will focus on expanding sales of strategic products and improving profitability through efficient resource management.
Earnings Conference and Conference Call
LG Electronics will hold a Korean / English conference call on July 25, 2024, at 16:00 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 Records for Second Quarter Revenue and Operating Profit
Through Balanced Qualitative Growth in Core and Future Businesses
SEOUL, July 5, 2024 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the second-quarter of 2024, reporting a consolidated revenue of KRW 21.7 trillion and operating profit of KRW 1.19 trillion.
Both revenue and operating profit exceeded market expectations, setting new records for the second quarter. Operating profit surged by 61.2 percent year-over-year, surpassing KRW 1 trillion for the first time in a second quarter. Revenue increased by 8.5 percent year-over-year.
For the first half of 2024, revenue rose by 5.9 percent and operating profit by 13 percent compared to the same period last year. LG’s first-half revenue exceeded KRW 40 trillion for the third consecutive year, and first-half operating profit surpassed KRW 2 trillion for the fourth consecutive year.
During the second quarter, LG maintained balanced qualitative growth across core businesses and future growth sectors.
The home appliance and air solution business continues to outpace industry growth. The air solutions segment, in particular, contributed significantly to the strong second-quarter performance, driven by seasonal demand.
The vehicle component solutions business is increasing its focus on premium product sales while proactively preparing for future technology advancements, including the shift to software-defined vehicles, exemplified by the introduction of LG AlphaWare.
In the home entertainment sector, premium OLED TV sales in advanced markets are gradually rebounding, despite challenges from rising LCD panel prices. Moreover, substantial sports momentum in Europe is anticipated to create more opportunities.
The business solutions sector is targeting the market with premium IT products, including the AI-on-device laptop LG gram and the world’s first variable resolution and refresh rate gaming monitor. The sector is also applying AI to commercial displays and penetrating the edutech market with customized products like electronic whiteboards. Efforts are ongoing to energize new businesses, such as robotics and electric vehicle charging.
This strong performance can be significantly attributed to LG’s strategic transformation towards a future-oriented business model. This shift has maximized the potential of existing operations and facilitated reinvestments aimed at discovering new growth engines.
The B2B business is continuing to drive this business transformation with steady growth. With AI emerging as a critical inflection point in the industry, the heating, ventilation and air conditioning (HVAC) business, particularly in chillers, is unlocking new growth opportunities in AI infrastructure, signaling a positive future outlook.
The vehicle components business, another pillar of B2B growth, maintains stable growth thanks to a robust order backlog and a balanced portfolio that includes in-vehicle infotainment, electric vehicle powertrain components, and automotive lamps, despite a temporary slowdown in electric vehicle demand.
In B2C, LG is overcoming market uncertainties and growth limits with new business models like subscription services. The subscription business currently spans 22 products, reducing initial purchase burdens and combining service solutions for continued revenue. New business models such as subscription services leverage LG’s vast product portfolio as platforms to offer content and services globally.
LG is accelerating its shift towards a customer relationship-centered business model. The recent acquisition of smart home platform company Athom marks a push towards personalization and service-oriented approaches in the home appliance business. The home appliance business is also focusing on space solution-centered paradigms and expanding Affectionate Intelligence appliances that cater to customer needs.
Meanwhile, LG Channels, the webOS flagship content service offering over 3,500 free channels in 28 countries, has surpassed 50 million users. LG is also expanding the webOS content and service business beyond TVs to include IT and automotive infotainment.
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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By News Reporter
With the Addition of a 5MP Diagnostic Monitor, Company’s Comprehensive Range of
Medical Monitors Now Boasts 13 Different Types of Display
SEOUL, Apr. 12, 2024 — LG Electronics (LG) is accelerating its B2B medical device business, leveraging a full lineup of diagnostic monitors including the new 21HQ613D which was recently cleared by FDA for sale in the United States. Designed specifically for digital mammography and breast tomosynthesis, the 21HQ613D is a 21.3-inch 5-megapixel (MP) IPS diagnostic monitor that delivers high-definition radiological images and maintains consistent image quality through its internal front calibration sensor and calibration software.
The 21HQ613D offers exceptional definition and brightness, its LG IPS display providing a resolution of 2,048 x 2,560, a luminance of 1100cd/m² and a contrast ratio of 1800:1. Suitable for reviewing various types of medical images, including breast MRIs, CT scans and ultrasound, the diagnostic monitor features an internal front sensor that removes the need for an external calibration device. With LG Calibration Studio Medical software, users can conveniently conduct DICOM calibration and quality assurance tests that comply with international quality control standards for medical monitors.
The 21HQ613D also incorporates helpful features to assist users in the close examination of medical images, such as Focus View Mode and Pathology Mode. Controllable with either a mouse or keyboard, Focus View Mode lets users focus in on a specific part of an image, dimming the rest of the screen in order to highlight the selected area. Pathology Mode provides image clarity and accuracy as if looking into a microscope. Additionally, Multi-Resolution Mode (5, 3 and 2MP) makes it possible to quickly adjust screen resolution to suit the type of image being viewed.
For a more productive and organized workspace, this diagnostic monitor supports daisy-chaining via DisplayPort connection. An easy and efficient way of linking monitors, daisy-chaining helps reduce desk clutter and simplify cable management. LG’s new diagnostic monitor also offers a comfortable user experience thanks to an ergonomic stand with adjustable tilt, height, swivel and bi-directional pivoting functionality.
The diagnostic monitor’s five hotkeys improve user convenience by providing a quick and simple way to adjust settings or switch between modes. Meanwhile, the Presence Sensor helps to conserve energy, automatically shutting off the display if no motion has been detected for five minutes. The Down Light and Wall Light features enable users to read documents when the room is dim or completely dark, the former illuminating the desk or table surface below the monitor and the latter casting light on the area behind it. For a better viewing experience, the Auto Luminance Sensor automatically adjusts screen brightness according to ambient conditions.
With the 21HQ613D, LG is targeting rapidly growing global demand for mammography monitors. According to an industry analysis report by Persistence Market Research, the global mammography market is projected to reach a valuation of USD 6.9 billion by 2023, with a CACR of 11.6% from 2023 to 2033.*
LG’s expanded lineup of diagnostic monitors covers the major display needs of large hospitals. Along with the new 5MP model, the company provides 3MP monitor – primarily used for reading radiological images – and 8MP and 12MP products equipped with PBP (Picture-by-picture) mode, which allows simultaneous review of multiple diagnostic images. In total, LG now offers 13 types of medical monitors, including 5 diagnostic monitors, 5 surgical monitors and 3 monitors for clinical use.
LG is committed to delivering advanced monitor solutions for the modern healthcare environment. In 2023, LG secured a significant contract with Centrale d’Achat de l’Informatique Hospitalière (CAIH), France’s hospital IT purchasing center, to provide a total of eight types of medical monitors. The contract, valued at EUR 10 million (approximately KRW 15 billion) over four years, represents the company’s largest agreement since entering the medical imaging device business in 2016.
“Designed for reviewing mammograms and breast tomosynthesis, LG’s new diagnostic monitor is a high-quality medical imaging display offering easy management and useful functionality,” said YS Lee, vice president and head of the IT business unit of LG Business Solutions Company. “We will continue to provide the medical sector with cutting-edge solutions leveraging our innovative display technologies.”
For more information about LG’s diagnostic monitors, visit
link hidden, please login to view. Key Specifications:
LG Diagnostic Monitor (21HQ613D)
Display Panel Type IPS Size 21.3-inch Aspect Ratio 4:5 Resolution 5MP (2,048 x 2,560) Color Gamut (Typ.) NTSC (CIE1 931) 72% Brightness (Typ.) 1100cd/m² Contrast Ratio (Typ.) 1800:1 Response Time (Gray-To-Gray)
5ms (GtG) Feature DICOM Compliant Yes Hardware Calibration Yes Display Mode Multi-Resolution Mode (5/3/2MP), Focus View Mode, Pathology Mode Video Signals Input Terminals DisplayPort x2, DVI-D (Dual Link) x1 User
Convenience Dual Controller Yes Lighting Yes (Down / Wall) Hot Key Yes (5 keys) Presence Sensor Yes Physical Specifications
Adjustable Stand Pivot (Bi-Directional) / Swivel: ±15° / Tilt.: -5°~20° / Height Range: 110mm
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By News Reporter
New 31.5- and 27-Inch LG SMART Monitors Feature Outstanding IPS Displays,
Built-in Remote-Working Features and Content Curation Services
SEOUL, Nov. 8, 2023 — LG Electronics (LG) is unveiling its latest LG SMART Monitor lineup (models 32SR50F and 27SR50F). The versatile, new 31.5- and 27-inch monitors don’t require any PC connection at all, and are ideal for productivity. Along with advanced IPS displays that deliver true-to-life colors and strong contrast, LG SMART Monitors feature LG’s webOS 23 platform, which provides more convenience for working remotely as well as streaming favorite shows, sports and music.
Great for entertainment and getting work done, LG SMART Monitors boast high-performance IPS displays and HDR 10 support. The vibrant, accurate images produced by the new monitors help bring content to life and also enhance the user’s experience when participating in conference calls, working on documents or researching on the Internet. With its 3-sided virtually borderless design, the 27-inch model presents a sleek, minimalist look that can elevate one’s space and boost the sense of immersion.
Equipped with webOS 23, the latest LG SMART Monitors offer outstanding convenience. The 32SR50F and 27SR50F provide easy access to streaming apps1 which offer tailored recommendations for movies, series and music from the Home Board screen, and personalized sports profiles2 – complete with customizable sports service cards – that make it simple for users to keep up with the sports they love. LG SMART Monitors store the user’s favorite leagues and teams, notify them of upcoming games and provide up-to-date schedules and key statistics. Also included is the LG Mood Music function, which serves as a personal DJ; curating playlists based on the user’s musical preferences.3
Handy solutions for those working from home, the monitors come with built-in LG Home Office software that supports various productivity programs4 including Microsoft 365 and Google Calendar. LG SMART Monitors help further enhance workflow and remove the need to connect directly to a PC by allowing users to easily share content from their smart devices via AirPlay 2 and Miracast. The new monitors can even function as smart home hubs, with support for LG’s ThinQ Home Hub making it possible for users to monitor and manage their home appliances. Through the ThinQ app, the 32SR50F and 27SR50F are able to connect with various IoT-compatible household appliances, such as refrigerators and washing machines.
“The LG SMART Monitor series is designed with a focus on meeting the personal preferences and unique demands of various kinds of users,” said Seo Young-jae, senior vice president and head of the IT business unit of LG Electronics Business Solutions Company. “Moving forward, LG plans to introduce new SMART Monitors that will be able to accommodate an even broader range of lifestyle needs.”
The new LG SMART Monitors are scheduled to be released in key markets in North America, Europe, Asia, the Middle East and South America, with availability starting in the U.S. this November. 5
Key Specifications:
LG SMART Monitor (32SR50F)
LG SMART Monitor (27SR50F)
Size / Resolution Screen Size 31.5-inch 27-inch Resolution FHD (1,920 x 1,080) FHD (1,920 x 1,080) Graphic Panel IPS IPS Color Gamut (Typ.) sRGB 99% NTSC 72% HDR HDR 10 HDR10 Refresh Rate / Response Time
60Hz / 8ms 60Hz / 14ms Interface
USB Type-C – – HDMI O (x2) O (x2) USB 2.0 O (x2) O (x2) Wi-Fi O O Bluetooth O O Speaker 5W (x2) 5W (x2) Smart Feature / Service
OS webOS 23 webOS 23 Microsoft Office O O Voice Assistant LG ThinQ, Alexa LG ThinQ, Alexa Mobile Casting / Mirroring AirPlay 2 / ScreenShare AirPlay 2 / ScreenShare Accessory HDMI / White Remote Control
HDMI / White Remote Control
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1 LG webOS 23 supports streaming services such as Netflix, Amazon Prime Video, Disney+ and YouTube. Many streaming apps available on webOS require a paid subscription. Support for specific streaming apps may vary by country.
2 Feature only available on models sold in the US market.
3 Access is available after logging in and completing preferred team registration.
4 Separate login to the program is required.
5 Available model options may vary by country.
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By News Reporter
Record Revenues, Strong Profitability Provide Solid Foundation for
Pursuing Mid- to Long-term Growth Through Advancement of Business Portfolio
SEOUL, July 27, 2023 — LG Electronics Inc. (LG) today announced second-quarter 2023 consolidated revenue of KRW 20 trillion with operating profit of KRW 741.9 billion.
The company recorded the highest second-quarter revenues in company history. The second-quarter results underscore the success of the company’s strategy to drive continuous growth while strengthening its business competitiveness. The record revenue reflects the company’s actions to fundamentally improve its business structure by pursuing new platform-based service businesses and continuously expanding the business-to-business (B2B) segments. Profitability also was strong, although operating income was 6.3 percent lower than the second quarter last year, primarily due to a one-time second-quarter 2023 provision.
The company plans to drive further profitability improvements by optimizing efficiencies and by preemptively meeting market demands through enhanced demand forecasting and manufacturing competitiveness. LG also plans to continuously strengthen its online brand store and direct-to-consumer businesses.
The LG Home Appliance & Air Solution Company generated second-quarter revenues of KRW 7.99 trillion and an operating profit of KRW 600.1 billion. Despite intensified market conditions, the business unit recorded strong profitability on the back of increased sales of high-demand products such as air conditioners and energy efficient heat pump-enabled products. The operating profit increased by 40 percent from the previous year, reflecting efficient cost structure management. The company will leverage its high-efficiency innovations including heat pumps and ESS as demand for green technologies grows in Europe, North America and around the world. At the same time, the company sees the electrification trend as an opportunity for future growth in the HVAC business. In the third quarter, the company will launch new LG ThinQ UP 2.0 home appliances featuring hyper-personalization, subscriptions and services. Certain mass-tier appliance lineups also will be expanded in response to market changes. The company plans to lead a paradigm shift in the home appliance industry by combining service-based business models with differentiated product competitiveness, while continuing efforts to increase efficiencies in production, purchasing and logistics for stable profitability.
The LG Home Entertainment Company recorded second-quarter revenue of KRW 3.15 trillion and an operating profit of KRW 123.6 billion. As challenging business conditions persist for the worldwide consumer electronics industry, the company continued to focus on improving operational efficiency and improving profitability by growing the content and service businesses based on LG’s webOS smart TV platform. The company intends to transform its TV business portfolio into a “media and entertainment service provider” by expanding content, services and advertising in differentiated products. The business unit also intends to solidify LG’s leadership in the ultra-large-screen TV market with the launch of the 97-inch LG SIGNATURE OLED M, the world’s first “wireless” consumer TV with Zero Connect technology. Also driving the premium TV market are expanded sales of the company’s popular new Lifestyle Screens.
The LG Vehicle component Solutions Company‘s second-quarter revenue was KRW 2.66 trillion, the highest second-quarter revenues in company history. However, an operating profit was KRW 89.8 billion excluding non-recurring expenses such as one-off provision, achieving the highest second-quarter operating profit in terms of business performance. But after the company’s operating profit margin included the one-time provision of KRW 151 billion, related to General Motors’ recall of the Chevy Bolt EV, it resulted an operating loss of KRW 61.2 billion. This provision reflects the increases in material costs that occurred during the recall period.
The business unit will continue its growth momentum by focusing on expanding its high value-added and high-performance business. The company’s order backlog is expected to reach KRW 100 trillion by the end of the year, leading to sequential sales conversion resulting in profitable growth. In particular, in terms of profitability, it is positive that the company is experiencing economies of scale from sales expansion. As steady increase of electric vehicle demand is expected in the future, the company will actively seek new opportunities in future mobility areas, such as autonomous driving, software solutions and content, while securing stable profitability by expanding the portion of high value-added and high-performance products supplied to key automotive customers around the world.
The LG Business Solutions Company saw improved second-quarter revenues of KRW 1.33 trillion with an operating profit of KRW 2.6 billion. Both revenue and operating profit declined slightly from the same period last year due to the persistent softening of demand for IT products. From the third quarter, demand for IT products is expected to show a gradual recovery compared to the first half. In the midst of this, LG plans to actively expand sales of monitors and laptops equipped with gaming features and OLED displays. In the commercial display business, the company will seek opportunities for further growth with customized solutions for various vertical markets, from hospitality and health care to education, retail and corporate.
Earnings Conference and Conference Call
LG Electronics will hold a Korean / English conference call on July 27, 2023, 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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