LG NOVA Program Announces “First 50” Startups Advancing to Next Phase of Incubation Program
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By News Reporter
Company Continues to Perform Well in Highly Competitive Sector,
Securing Orders Worth KRW 8 Trillion in the First Half of 2022
SEOUL, July 5, 2022 — LG Electronics (LG) continues to establish its position as a major force in the electric vehicle (EV) component solutions business, confirming it has secured orders valued at KRW 8 trillion in the first half of 2022 to deliver its in-vehicle experience to diverse global automakers.
Expanding cooperation with major global car manufacturers including Mercedes-Benz AG, Groupe Renault and General Motors and supplying its P-OLED IVI systems to clients’ electric vehicles, LG is seeking to augment its comprehensive portfolio.
LG’s EV component solutions business is rapidly growing based on its three core businesses sector: the LG Vehicle component Solutions (VS) Company, ZKW Group and LG Magna e-Powertrain.
Acquired by LG in 2018, ZKW Group boasts market-leading vehicle headlamp technology, and a global clientele that includes BMW, Mercedes-Benz AG, Audi and Porsche. Meanwhile, LG Magna e-Powertrain is expanding its worldwide production base, adding a third manufacturing facility (Ramos Arizpe, Coahuila, Mexico) to its existing factories in Incheon, South Korea and Nanjing, China. Construction has already begun on the 25,000-square meter site, which is projected to open in 2023 and is slated to produce key components, such as motors and inverters, for General Motors’ next-generation of EVs.
In the first half of this year, the value of orders for LG’s advanced EV component solutions surpassed the total accumulated value of all orders on hand as of 2021 (KRW 60 trillion) by a mark of 13 percent. The company expects that the accumulated orders placed with its EV components business by the end of 2022 will exceed KRW 65 trillion in value.
Given the decrease in vehicle production due to the shortage of automotive semiconductors and other ongoing global supply issues, the performance is encouraging as the consolidated sales for LG’s EV component solutions business increased up to 24 percent compared to last year, reaching KRW 6.7 trillion.
Based on a report from market research firm Strategy Analytics published in April 2022, LG is estimated to be already leading the global telematics market, boasting a 22.7 percent market share as of the first quarter of 2022 and recording a double-digit market share in the audio, video and navigation (AVN) market since last year.
“Leveraging the advanced core technologies and the strong partnership with the global manufacturers, we will continue to provide differentiated value to our auto-industry customers,” said Eun Seok-hyun, president of the LG VS Company.
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By ashok R
TV model: 49 UH770T
I used 6000 hours. All four corners start to have struck pixels, this is very disappointing us after spending INR 1,00,000. I am sure this should have been tested products for such high value. How would I customer will recommend LG Smart TV for family and friends if the product manufacturing is not worth the money spent on?
regards,
Ashok R
9880965020
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By News Reporter
LG Acquires AppleMango Together with GS Energy and GS Neotek,
Securing Advanced EV Charger Development Capabilities
SEOUL, June 27, 2022 — LG Electronics (LG) today announced it has acquired South Korean electric vehicle (EV) charger solutions provider, AppleMango Co., Ltd., jointly with GS Energy and GS Neotek. The acquisition is expected to accelerate the growth of LG’s EV charging solution business and enable the company to take advantage of future business opportunities.
This strategic move, combined with LG’s own expertise and wealth of experience in both B2C and B2B segments, will enable the company to create fully-featured charging stations boasting a user-friendly interface and real-time control/management. LG continues to strengthen its EV charging solution business leveraging its exceptional digital signage technologies – specifically, its IP-rated outdoor digital display with sturdy, dust- and water-proof enclosure.
Established in 2019, AppleMango has developed proprietary technologies and systems, including a slim, fast charger, to meet the rising global demand for EV charging solutions. In addition to the company’s market-leading charging tech, LG will secure access to the necessary operational infrastructure by working closely with GS Energy and GS Neotek. Both GS companies have considerable experience in operating EV charging stations and related businesses.
The new acquisition will help LG to become an integrated solutions provider, bringing together its new charger development capabilities and existing in-house-developed EV charging management system. Moreover, the move is expected to create synergy with LG’s ongoing efforts in the area of vehicle components, including the development and supply of EV batteries and adjacent products, such as energy storage system (ESS) and energy management solutions.
“The EV charging market is expected to grow rapidly due to the surging demand for more eco-friendly vehicles,” said Paik Ki-mun, senior vice president of LG Electronics Business Solutions Company. “Leveraging our know-how and experience in the B2B sector, we will offer customized, integrated vehicle charging solutions for diverse customers, enhancing the competitiveness of our existing business and ensuring our readiness for future opportunities.”
LG now boasts a comprehensive EV business portfolio, with the recently-launched EV charging solution business joining other LG-owned concerns, including the LG Vehicle component Solutions (VS) Company, ZKW Group and the LG Magna e-Powertrain joint venture. This year, LG will establish an EV charger production line at LG Digital Park in South Korea, and aims to provide customized charging solution for various settings, such as private residences, shopping malls, hotels and public institutions, in the near future.
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By Jim Brown
I have a LG OLED C8 TV with a Soundbar and when connected to Optical the Volume Control is normal with a Percentage 0% to 100% but when connecting to HDMI ARC port like the Soundbar suggest to be connected it just show + or -, you don't have anyway of knowing what the volume is set to. I have tried two Soundbars a LG LAS551H that was connected via Optical and when connected to HDMI ARC it also does not show Volume Control. I have got a new Sonos Beam Gen 2 that is now connected to HDMI ARC port and sounds great but if I connect it to Optical it's much lower in volume but has the Volume indicator. Please advice.
I would like to suggest three enhancement request: 1. to show Volume Percentage on the HDMI ARC port. 2. Optical and HDMI ARC have the same output and 3. the Sonos be added to the Device list under Soundbars.
Thank you,
Jim Brown
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By Jim Brown
I have a LG OLED C8 TV with a Soundbar and when connected to Optical the Volume Control is normal with a Percentage 0% to 100% but when connecting to HDMI ARC port like the Soundbar suggest to be connected it just show + or -, you don't have anyway of knowing what the volume is set to. I have tried two Soundbars a LG LAS551H that was connected via Optical and when connected to HDMI ARC it also does not show Volume Control. I have got a new Sonos Beam Gen 2 that is now connected to HDMI ARC port and sounds great but if I connect it to Optical it's much lower in volume but has the Volume indicator. Please advice.
I would like to suggest three enhancement request: 1. to show Volume Percentage on the HDMI ARC port. 2. Optical and HDMI ARC have the same output and 3. the Sonos be added to the Device list under Soundbars.
Thank you,
Jim Brown
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