LG Announces Third-Quarter 2021 Financial Results
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By News Reporter
Advancing Business Portfolio with Greater Focus on Digital Transformation
SEOUL, Nov. 25, 2021 — LG Electronics (LG) today announced that William Cho, its Chief Strategy Officer, will also take on the responsibility of Chief Executive Officer effective December 1. LG’s top strategist since 2019, Mr. Cho was responsible for establishing LG’s Business Incubation Center and fostering new businesses opportunities in the form of in-house ventures as well as startup partners during his six-year tenure as president of LG North America.
Having joined Goldstar in 1987 and spending four years in LG’s overseas office in Germany, Mr. Cho has a storied career including roles as president of LG Canada, Australia and the United States. A graduate of Pusan University, Mr. Cho received his master’s degree in business from Yonsei University in Seoul.
Other notable changes include the appointment of Kim Byoung-hoon as Chief Technology Officer. Currently serving as the head of the Future Technology Center, Dr. Kim is being promoted to executive vice president and will simultaneously assume the roles of Chief Technology Officer as well as the new Information and Communication Technology leadership position.
Jang Ik-hwan, a 31-year veteran of LG, is being promoted from SVP to EVP and will assume the top position at the Business Solutions Company after successfully growing the IT business portfolio to make LG one of the fastest-growing brands in the notebook, laptop and monitor business. SVP Eun Seok-hyun has been tapped to lead the Vehicle component Solutions Company as its third and newest president. Mr. Eun was previously responsible for growing the smart business division under the same company.
Going forward, the new leadership team will accelerate changes focusing even more on customer value in pursuit of growth with each business unit assuming greater responsibility. Toward this end, LG will reorganize its Customer Satisfaction Management Center into the new Customer Value Innovation Office with oversight by the CSO. The role of the CVIO will be to more effectively identify and incorporate customer feedback and pain points into the product planning, development and sales processes. In addition, the Customer Experience Innovation Department under the Home Appliances and Home Entertainment Companies will be upgraded to Customer Experience Innovation Division.
Also, to discover potential growth engines and expedite future innovations, the M&A department under the umbrella of the Chief Strategy Office will be elevated to division level for more resources. Similarly, to increase its focus on future trends and customer needs, LG’s Life Soft Research (LSR) department will be promoted to Life Soft Research Lab to increase its influence within the Design Management Center. And to speed up its digital transformation process related to customer experience, LG will elevate the AI Big Data department to division level under the watchful eye of the new Chief Data Office (CDO).
All appointments are effective Dec. 1 with promotions going into effect on the first day of the new year.
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By News Reporter
LG Continues to Push the Limits of Future Mobility with Advanced ADAS Technology
SEOUL, Nov. 25, 2021 — LG Electronics (LG) and Mercedes-Benz AG were named joint winners this week at the annual AutoSens Awards, a global celebration of autonomous driving and advanced driver assistance systems (ADAS).
Every year the AutoSens conference recognizes companies for innovations in six categories of which LG was nominated in two: 2020 Vision Award and Hardware Development of the Year. The 2020 Vision Award was bestowed to LG and Mercedes-Benz in recognition of their influence, sustainability, contribution to the industry and inspiration to future technologies. The Hardware Development of the Year award was given to LG for successfully commercializing its front multipurpose camera technology beyond the concept stage. LG and Mercedes-Benz have been on ADAS camera technology for the past seven years, seeing the fruits of their labor commercialized in the new sedan which launched last month.
First started in 2015, the AutoSens Awards celebrates the best innovations and innovators in ADAS and autonomous vehicle technology. Every year, representatives from automakers, suppliers, research labs and academia take part in AutoSens online communities, conferences and training modules, exhibition events and workshops to better understand the fast-growing autonomous vehicle industry, which could not exist without ADAS technology.
Dr. Park Young-kyung, a Vision AI expert at LG, and Dr. Benjamin Marx of Mercedes-Benz’ multi-purpose camera team accepted the award and delivered a speech where they described the rewarding experience of working together for many years to develop a camera solution that improved real-life safety and met the strict European NCAP safety requirements. The state-of-the-art technology developed by the two companies is capable of taking advantage of deep learning and multi radar sensors to deliver significantly more environmental data to the central processing unit for analysis. More data results in better analysis and greater safety.
“Demonstration value to our automotive customers is the ultimate reward for LG,” said Dr. Kim Jin-yong, president of the LG Vehicle component Solutions Company. “Being honored together with Mercedes-Benz is very meaningful to LG as we strive to contribute toward innovation in future mobility.”
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By Spoll
It would be great if I didn't need to use an Amazon fire stick on my awesome oled tv to get the apps I want.
Please update the webos to at least 4.0 on modelsOLED65B6PB6
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By Ted W
Hi
I've got an LG Smart TV 43UM 7400PLB and am looking to buy an external hard drive so I can pause live TV and record programs. I'm currently using a much smaller capacity USB which can't pause live TV and will soon be full.
I've read on various forums that certain hard drives won't work or that I'll need to buy a certain connecting cable.
I was thinking of buying a Seagate 2TB drive, (STGX2000400) which is around £55.
Can anyone recommend one or confirm that the Seagate one will be okay.
Thanks.
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