By News Reporter
Highest Full-Year Revenue in LG Electronics’ History With
Continuous Growth Based on Strong Fundamentals
SEOUL, Jan. 27, 2023 — LG Electronics Inc. (LG) today announced full-year 2022 consolidated revenue of KRW 83.5 trillion with operating profit of KRW 3.6 trillion.
In 2022, LG achieved its highest annual revenue ever – surpassing KRW 80 trillion for the first time in its history – increasing 12.9 percent over 2021, when sales exceeded KRW 70 trillion for the first time. The record sales reflect continuous growth based on strong fundamentals, although full-year profitability was impacted by challenging global economic conditions.
The company’s revenue growth in 2022 was driven by strong demand for premium home appliances and automotive parts. For the seventh consecutive year, the appliance business unit saw significant year-over-year growth. The turnaround of LG’s Vehicle components Solutions business in 2022 reflected steady improvements in the automotive industry, and this business exceeded 10 percent of LG’s total revenue for the first time.
The LG Home Appliance & Air Solution Company saw another record-setting year with 2022 revenue of KRW 29.9 trillion, an increase of 10.3 percent from the previous year, as a result of company’s premium-focused strategy that includes unique appliances such as LG Styler clothing care systems, all-in-one WashTower laundry centers, and LG InstaView refrigerators with Craft Ice. Full-year 2022 operating profit was KRW 1.1 trillion lower than in the previous year caused by increased marketing investments and higher logistics costs. The business unit plans to consistently pursue its premium-centered strategy by improving competitiveness of premium products as well as strengthening its mass-tier lineup, along with cost structure management to enhance profitability. In addition, the company will accelerate the expansion of smart home ecosystems by expanding upgradable appliance lineups in the overseas markets.
The LG Home Entertainment Company reported 2022 revenue of KRW 15.7 trillion and operating profit of KRW 5.4 billion. Although lower global TV demand impacted revenue and operating profit versus 2021, the company’s content and services business based on LG’s smart TV platform has grown ten-fold since 2018. As challenging business conditions persist, the company will focus on expanding LG’s smart TV platform to diversify its overall business portfolio and secure future growth engines. Furthermore, the company will maintain its competitive edge by growing the premium TV segment, such as OLED TV and QNED TV, as well as effectively managing marketing expenses.
The LG Vehicle component Solutions Company increased revenue by 29.1 percent in 2022 from 2021 to KRW 8.6 trillion with a full-year operating profit of KRW 169.6 billion. The business unit’s profitable growth was driven by proactively responding to higher demand from automakers. By year-end 2022, the total value of accumulated orders for auto parts is around KRW 80 trillion, reflecting the company’s position as a leading supplier to the worldwide automotive industry. The company will continue its momentum by strengthening its global supply chain and will work to further increase profitability through efficient cost structure management.
The LG Business Solutions Company’s 2022 revenue of KRW 6.1 trillion increased 11.2 percent over the previous year driven by continuous recovery of information displays. Full-year operating profit declined, primarily due to lower post-pandemic demand for PCs and monitors. Looking ahead, the company plans to improve competitiveness of PCs and monitors, while driving stable growth in the B2B segment by developing more customized solutions.
Earnings Conference and Conference Call
LG Electronics will hold a Korean / English conference call on January 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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LG C2 Oled Connected to Samsung HW-Q800B Soundbar: Sound delays to respond during movie pause/unpause on TV streaming Apps like Netflix and Prime Video when sound output is set to PassthroughBy GiotisCy
I have recently purchased an LG C2 Oled TV which I connected with my Samsung HW-Q800B 5.1 soundbar via eArc HDMI. When I select "Passthrough" as a Digital Sound Output on LG TV sound advanced settings, there is an obvious sound response delay around 3 seconds when I pause and unpause the movie on Netflix or Prime video streaming apps on LG TV. For example, when I start the movie, the video starts and sound starts 2-3 secs later. When I pause the movie, the sound continues for 2-3 secs after the video has been stopped. There is no any lip sync issue, just this response delay of the sound from the soundbar. This happens only on LG TV Apps. If I connect to an external HDMI device such as AMAZON Fire Stick 4K, there is no such sound delay issue neither on Netflix neither on Prime Video.
Thus, the problem seems to be on LG TV apps.
If I change the Digital Sound Output to "Auto" instead of "Passthrough" the issue is gone but sound quality is not as good as with Passthrough selected. So I do not want this to be my option.
I would appreciate if someone could come with a solution on this.
Hi just got a new QNED LG to replace 2021 Nano tv
the problem is I can’t move my HD channels down to channels 1 to5.
the program manager does not have the function to move channels like my old Nano tv which is only a year older.
is there anyway I can get around this strange function?
By News Reporter
LG Continues Long-Standing History of Honors at World’s Preeminent
Consumer Technology Show With More Than 220 Awards & Accolades
SEOUL, Jan. 13, 2023 — Making a triumphant return at this year’s CES®, LG Electronics (LG) took home its most awards ever compared to previous years – with more than 220 recognitions honoring top innovations across its home appliance and home entertainment categories.
Among the top honors received by LG at CES 2023 was the coveted, Engadget Best of CES Award in the Best Home Theater Tech category for its groundbreaking LG SIGNATURE OLED M (model M3) – the world’s first wireless OLED TV with Zero Connect technology.
With 2023 marking the 10th anniversary of LG’s revolutionary OLED TV, the global leader in OLED technology continued its dominance at CES, taking home the industry’s top awards and honors for its latest OLED TV lineup including the aforementioned LG OLED M3 and LG OLED evo G3 and C3. The LG OLED evo G3 features up to a 70 percent increase in brightness versus last year’s models. The 97-inch LG SIGNATURE OLED M3 (the M3 model also available in 83- and 77-inch screen sizes) is considered the next step in the evolution of OLED TV technology and was honored by major tech publications including CNET, Digital Trends, TechRadar, Tom’s Guide, WIRED, The Verge, USA Today, PCMag and Mashable. The new LG G3 series OLED TV featuring “evo” technology was also applauded by TechCrunch, CNET, Tom’s Guide, Reviewed and BGR. PCMag additionally highlighted the innovative LG gram Ultraslim in its Best of CES 2023 noting the laptop’s lightweight mobility.
LG also garnered accolades from top publications such as The Wall Street Journal, CNET, The Washington Post, WIRED, Good Housekeeping, Tom’s Guide and PCMag for its new refrigerator with MoodUP technology. The cutting-edge home appliance was widely recognized for being one of the most exciting products of CES 2023 due to its tech-forward customization with LED door panels that offer 190,000 color options along with an integrated Bluetooth speaker.
LG’s newest ARTCOOL Gallery residential air conditioner also received significant attention for its sleek design with LCD panel and took home a Best of CES award from TechRadar and Best Innovative Products from CES 2023 from Business Insider. LG’s PuriCare Aero Furniture, which combines the benefits of sleek home furnishing and advanced air purification, was honored by PC Mag (Best Smart Home Tech of CES) and Reviewed (CES 2023 Editors’ Choice Award) for its ability to conceal high-end air purification tech with futuristic, colorful end tables that include mood lighting and a wireless charger surface.
From the Consumer Technology Association’s (CTA) CES Innovation Award program alone, LG won 25 CES Innovation Awards including three Best of Innovation Awards given to LG Transparent OLED Screen, LG OLED Flex and LG’s 65-inch UltraFine Display OLED Pro.
Highlights from LG’s 220 awards and recognitions earned at CES 2023 include:
LG SIGNATURE OLED M (97-inch M3) Wireless OLED TV with Zero Connect Technology
CNET: Best of CES 2023 – Best of Show Digital Trends: Top Tech of CES 2023 Awards Engadget: Best of CES 2023 – Best Home Theater PCMag: Best of CES 2023 Reviewed: CES Editors’ Choice Awards 2023 TechRadar: Best Gadgets of CES 2023 – Best TV Innovation The Washington Post: Best and Strangest Tech of CES 2023 Tom’s Guide: Best of CES 2023 Awards – Best in Show
LG gram Laptops
CNET: Best Laptops CES 2023 Has to Offer Laptop Mag: Best of CES 2023 PCMag: Best of CES 2023 PCWorld: Best Laptops from CES 2023 TechRadar: Best Laptops at CES 2023 Tom’s Guide: Best Laptops of CES 2023 WIRED: Best of CES 2023
LG OLED Flex
Digital Trends: Best Gaming Monitors of CES 2023 PC World: Best Monitors of CES 2023 TWICE: TWICE 2023 Picks Awards – CES 2023
LG UltraGear OLED Gaming Monitor
PC World: Best Monitors of CES 2023 Wirecutter: Best of CES 2023 TWICE: TWICE CES 2023 Picks Awards
LG Refrigerator with MoodUP Technology
CNET: The Wildest Tech at CES 2023, 9 Weirdest Gadgets at CES 2023, Best Smart Kitchen Tech Good Housekeeping: Editor’s Choice – CES 2023, CES 2023 Top Picks Now This News: Some of the Best Products from CES 2023 PCMag: Best of CES 2023 Reviewed: CES Editors’ Choice Awards 2023 The Wall Street Journal: Cool, Crazy and Cute Tech – CES 2023 The Washington Post: Best and Strangest Tech of CES 2023, Best of CES 2023 Tom’s Guide: Best of CES 2023 Awards – Best Appliance The National News: Best, Quirkiest Innovations at CES 2023 Gear Patrol: Best Home Gadgets of CES 2023
LG InstaView ® Counter-Depth French Door Refrigerator
BestProducts.com: Best of CES Home Appliances – Best Large Appliance
LG PuriCare Aero Furniture
Reviewed: CES Editors’ Choice Awards 2023 TWICE: TWICE Picks Awards – CES 2023 PCMag: Best Smart Home Tech of CES 2023
LG ARTCOOL Gallery Residential Air Conditioner
TechRadar: Best of CES 2023 Business Insider: Best Innovative Products from CES 2023 Gadget Flow: CES 2023 Favorites Yanko Design: Best of CES 2023
LG Styler ShoeCase
Digital Trends: The Most Curious Gadgets at CES 2023
LG Styler ShoeCare
CNET: 9 Weirdest Gadgets at CES 2023 Digital Trends: The Most Curious Gadgets at CES 2023
For more information on LG’s CES 2023 awards and honors and additional information about LG’s products announced at CES, please visit
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By News Reporter
LG Electronics Tennessee Plant is Selected as Industry’s First U.S.
Home Appliance Lighthouse Factory by World Economic Forum
SEOUL, Jan. 16, 2023 — LG Electronics’ (LG) home appliance manufacturing plant in the United States has been selected as a world-leading Lighthouse Factory by the
link hidden, please login to view. The million-square-foot factory in Clarksville, Tennessee – the U.S. production base for LG’s award-winning washers and dryers – is the industry’s first home appliance plant in the United States to join the WEF’s global network. Also, it is the company’s second Lighthouse Factory, following on the heels of the LG Smart Park in Changwon, South Korea, which was selected by the WEF last year.
A “Lighthouse Factory” is recognized by the WEF for its role in shaping the future of manufacturing through the integration of Internet of Things (IoT), big data, artificial intelligence (AI), robots and other Fourth Industrial Revolution technologies. Since 2018, the WEF has selected and added global factories to its network twice a year.
LG’s world-class autonomous factory in Tennessee utilizes advanced digital technologies from AI and big data to IoT and robots. Completed at the end of 2018, the facility now operates three production lines for front-load and top-load washing machines and dryers. With an annual production capacity of 1.2 million washers and 600,000 dryers, the plant proactively responds to changing North American demand through local production. More than 900 people work at the LG home appliance factory in Montgomery County, Tenn.
Featuring a complete integrated production system streamlined process to supply impeccable products to customers on time, each line carries out the entire manufacturing process of new models from making the parts to assembly and packaging. In addition, strict quality conditions are applied to all the assembly lines to heighten quality across the board, from parts to finished products.
The LG Tennessee factory boasts a fully autonomous logistics system with 166 automated guided vehicles (AGVs) that transport parts around the plant. With three times more AGVs than the LG Smart Park, these robots improve overall productivity by freeing up people for other tasks.
With the integration of parts production such as metal press processing, plastic injection molding, and painting – including LG’s own intelligent injection molding system – the company has increased component productivity by 21 percent.1 In addition, the plant recognizes and responds in advance to potential productivity issues through an advanced detection system. By applying data-based AI technology that accurately predicts washing machine performance, the number of tests and energy consumed during testing are reduced by 22 percent, while the defect rate has been reduced by more than 61 percent via quality optimization.2
The plant is also maximizing workplace safety and operational efficiency by using robots for complicated, potentially dangerous tasks, such as assembling and lifting heavy parts and welding.
To further improve efficiency, LG plans to establish a 5G connectivity network across the facility in the second half of this year, creating an environment where its many AGVs can transport materials faster and more accurately based on stable, uninterrupted communication. LG will also introduce Autonomous Mobile Robots that navigate the expansive facility with ease to enhance its logistics system.
LG’s commitment to sustainability can be seen throughout the Tennessee factory, which transitioned to renewable energy completely already in 2022. The plant also uses a high-efficiency utility infrastructure, which supplies the power, steam and heat necessary to produce LG’s home appliance products with the help of the company’s advanced Building Energy Control (BECON) solution.
“Along with the LG Smart Park, LG’s Tennessee factory represents our unmatched leadership in transforming manufacturing facilities into advanced, futuristic hubs utilizing the most revolutionary technologies,” said Lyu Jae-cheol, president of the LG Electronics Home Appliance & Air Solution Company. “Lighthouse Factory status exemplifies how LG continues to strive for providing differentiated customer experiences through customized manufacturing innovations.”
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1 Comparing the overall equipment effectiveness rate from the year 2020 to 2022 according to the lighthouse site visit report by World Economic Forum.
2 Comparing the number of the test conduction and the field defect rate from the year 2020 to 2022 according to the lighthouse site visit report by World Economic Forum.