LG Announces First-Quarter 2022 Financial Results
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By Alex
To compete with Samsung’s Frame TVs, LG announced it’s getting into the space with LG Gallery TV.
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In just the past couple years, the that’s been dominated by Samsung’s The Frame has seen growth, with additions from both TCL and Hisense. Now LG has announced its own entry, the LG Gallery TV. The TV will leverage the Gallery+ service that LG released earlier this year, which includes thousands of display visuals ranging from pieces of art to cinematic images to gaming scenes. Much like Samsung’s Art Store, Gallery+ has a limited free option, but its full capability requires a subscription.
The new Gallery TV shouldn’t be confused with the G Series OLED TVs, like the , even though the G Series used to be called the Gallery Series up until a couple years ago. The Gallery TV is a mini-LED TV with “a specialized screen that reduces glare and minimizes reflections for an art-like viewing experience” (so it likely has a matte coating). LG hasn’t specified the backlight configuration, but all of the other art TVs use edge lighting, so it’s a safe bet that this one will as well. OLED technology, while offering superior picture quality to mini LED, isn’t able to display a single image for an extended time without concern of image retention (or burn-in).
LG has taken a cue from Hisense and includes a frame with the Gallery TV. The default frame is white, with the option to purchase an additional wood-colored frame. The TV will be available in 55 and 65 inches, but pricing has yet to be released.
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By News Reporter
Lyu Jae-cheol Appointed as New CEO to
Strengthen Fundamental Competitiveness of Core Businesses
SEOUL, Nov. 27, 2025 — LG Electronics (LG) today announced that Lyu Jae-cheol will assume the role of Chief Executive Officer, effective December 1. Mr. Lyu has successfully led the LG Home Appliance Solution (HS) Company, driving sustainable growth through expanded B2B operations, subscription-based and direct-to-consumer (D2C) business models, and continued competitive leadership based on LG’s core strengths in home appliances.
As CEO, Mr. Lyu will focus on expanding LG’s market-leading DNA in home appliances – built on delivering differentiated customer value – across the entire organization, further enhancing the company’s fundamental competitiveness and growth potential.
Mr. Lyu joined Goldstar (now LG Electronics) in 1989 as a researcher in the Home Appliance Research Center and has spent nearly half of his career in home appliance R&D, building deep technical expertise that has shaped his leadership approach. Since 2021, he has served as head of the H&A (now HS) Company, leading LG to become the global No. 1 home appliance brand.
Despite delayed recovery in consumer sentiment and intensifying market competition, he strengthened the leadership of flagship products while laying the groundwork for sustainable growth through continuous R&D. He also expanded HS Company’s business portfolio by advancing appliance subscription services, online channel growth and B2B business areas such as built-in appliances and component solutions.
Leadership Transition
William Cho will step down to support a healthy leadership transition after laying a strong foundation for sustainable growth during his four-year tenure as CEO.
Mr. Cho, who joined LG in 1987 and has dedicated 37 years to the company, expanded LG’s business beyond home appliances into sectors such as mobility and commercial spaces and established a mid- to long-term vision to transform LG into a Smart Life Solution Company that connects and extends customer experience across diverse spaces. His strategic direction prioritized performance in core businesses; growth in B2B, non-hardware and D2C areas; expansion into high-potential Global South markets; and exploration of new business domains – each becoming key milestones in LG’s future growth strategy.
To further accelerate growth of LG’s two key B2B pillars – vehicle solutions and heating, ventilation and air conditioning (HVAC) – the company has promoted Eun Seok-hyun, head of the Vehicle Solution (VS) Company, and James Lee, head of the Eco Solution (ES) Company, to president.
Kwack Do-yeong, who brings extensive experience in sales and strategy at the HS Company and a deep understanding of global markets, has been appointed Region Representative of LG Electronics North America and head of LG Electronics USA.
2026 Organizational Restructure
This year’s organizational changes focus on enhancing efficiency to build a more agile decision-making structure capable of responding to rapid external shifts, while reinforcing selective and focused operations to accelerate LG’s mid- to long-term portfolio strategy.
LG will maintain its existing four-Company structure, ensuring fast and accountable decision-making at the Company level. Similar and adjacent functions across business organizations will be integrated to streamline operations and improve execution efficiency.
With Mr. Lyu’s appointment as CEO, executive vice president Baek Seung-tae, previously head of the Kitchen Solutions Business, will assume leadership of the HS Company. Baek has strengthened global appliance competitiveness through roles leading both the Living Solutions and Kitchen Solutions Business and is well positioned to advance global production strategies under changing market conditions. The heads of the Media Entertainment Solution (MS), VS and ES Companies will remain in their roles to ensure continuity and strategic momentum.
Strengthening Growth Foundations for Future-oriented and High-potential Businesses
In parallel with organizational efficiency, LG is establishing new engines to accelerate high-potential business domains including HVAC, webOS and robotics.
The HS Company will establish the HS B2B Overseas Sales Division to grow global built-in and builder-focused business, and elevate the Built-in/Cooking Business Division to a Business. The HS Robotics Lab will be newly created, integrating select functions from the Chief Technology Office’s Advanced Robotics Lab. Research Fellow Lee Jae-wook, who led the Humanoid Robot Task, will head the lab. The MS Company will integrate its TV and IT Businesses into a single Display Business, and establish a Display Product Development Group to strengthen product competitiveness. The webOS Advertisement Business Department will be elevated to a Business to strengthen support for the expansion of webOS-based service operations The ES Company will establish a new Applied Business Division focused on HVAC solutions for data center cooling, ventilation, refrigeration and nuclear power, while launching the ES M&A Division and ES Overseas Sales Division to support localized, end-to-end overseas operations. Within the Chief Technology Office, a new HS Advanced Research Lab will enhance fundamental technology competitiveness, and a Next-Generation Computing Lab will be established to strengthen leadership in emerging technologies such as quantum and distributed computing and next-generation security. To drive companywide AI transformation, the existing DX Center and Business Process Innovation Division will be integrated into a new organization, the AX Center. Under the leadership of senior vice president Cho Jung-bum, former head of the DX Center, the AX Center will spearhead efforts to accelerate AI adoption, enhance operational efficiency, advance R&D and strengthen employee capabilities. All appointments and structural changes take effect December 1, 2025, with promotions effective January 1, 2026.
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By News Reporter
Strong Performance in Home Appliance and Vehicle Solutions Drives
Second-Highest Third-Quarter Revenue in Company History
SEOUL, Oct. 31, 2025 — LG Electronics Inc. (LG) today announced consolidated revenue of KRW 21.87 trillion and operating profit of KRW 688.9 billion for the third quarter of 2025.
The Home Appliance Solution (HS) Company and Vehicle Solution (VS) Company delivered strong performances despite external challenges such as U.S. tariffs and a slowdown in the electric vehicle (EV) market. These results reflect LG’s ongoing transformation of its business portfolio and commitment to qualitative growth, encompassing B2B solutions such as vehicle and HVAC systems, expanding non-hardware businesses like subscriptions and webOS, and innovative direct-to-consumer business models.
In the third quarter, LG’s B2B revenue grew 2 percent year-on-year to KRW 5.9 trillion, while revenue from appliance subscription services reached KRW 700 billion, up 31 percent year-on-year.
Q3 2025 Results & Outlook by Company
LG Home Appliance Solution (HS) Company
The HS Company reported revenue of KRW 6.58 trillion and operating profit of KRW 365.9 billion. Growth was driven by a successful two-track strategy targeting both premium and mass-market segments, alongside continued expansion in subscription and online businesses. Production site optimization and operational efficiency improvements helped offset much of the U.S. tariff impact, resulting in higher year-on-year profitability.
Looking ahead to the fourth quarter, the global home appliance market is expected to remain challenging due to sluggish demand recovery and intensified competition. The Company plans to continue expanding its subscription and online businesses and maintain focus on furthering its qualitative growth efforts. It will also pursue cost structure enhancements and fixed cost reductions to improve profitability year-on-year.
LG Media Entertainment Solution (MS) Company
The MS Company recorded revenue of KRW 4.65 trillion and an operating loss of KRW 302.6 billion in the third quarter. Profitability was impacted by increased marketing investments to address intensifying competition and one-time expenses related to voluntary retirements.
The Company remains focused on improving operational efficiency and profitability in its TV business while expanding the webOS platform through advancements in advertising and content diversification. It also plans to strengthen its presence in Global South markets, where demand remains relatively resilient.
LG Vehicle Solution (VS) Company
The VS Company recorded revenue of KRW 2.65 trillion and operating profit of KRW 149.6 billion. Revenue reached an all-time third-quarter high, while operating profit achieved the highest quarterly level since the Company’s establishment. The operating profit margin exceeded 5 percent for the first time.
While external factors such as changes to U.S. EV subsidy policies may present short-term challenges in the fourth quarter, the Company aims to maintain stable profitability through ongoing product mix optimization, cost structure improvements and efficiency initiatives.
LG Eco Solution (ES) Company
The ES Company reported revenue of KRW 2.17 trillion and operating profit of KRW 132.9 billion. Revenue increased slightly year-on-year, supported by stronger domestic sales and continued growth in subscription and online businesses. Operating profit declined modestly due to expanded investments.
The Company plans to strengthen growth momentum through region-specific product launches and explore new opportunities in commercial HVAC systems and industrial and power generation chillers. It has recently secured a series of AI data center cooling solution contracts across North America, Latin America, the Middle East and Asia, demonstrating tangible progress. The Company aims to use these projects as strategic references to further expand its market presence. In parallel, it is preparing for the commercialization of next-generation liquid cooling solutions for data centers and broadening partnerships to advance immersion cooling technologies.
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By News Reporter
Global Innovator Becomes Modern and Contemporary Art Partner to
the World-Famous Gallery on London’s Trafalgar Square
LONDON, Sep. 17, 2025 — LG Electronics (LG) today announced a new multi-year deal with the National Gallery in London to become the institution’s Modern and Contemporary Art Partner.
As part of this role, LG will support the National Gallery’s current and upcoming projects with leading artists, continuing its rich artistic tradition. The National Gallery is committed to presenting contemporary art in dynamic conversation with the historic collection through its artist residencies, artist conversations and artist commissions.
LG OLED ART
The new partnership with the National Gallery builds on LG’s long-standing collaboration with the art world. Through LG OLED ART, the company continues to champion artists and cultural institutions at the intersection of art and technology, creating new ways to experience creativity in the digital age.
This year LG celebrates four years as Global Partner of Frieze, where it has worked with world-class talent to showcase work at shows in Los Angeles, London, New York and Seoul – including
link hidden, please login to view in Seoul this month and Suh Do-ho in London next month. The National Gallery
Established in 1824, the National Gallery has served to bring people and art together for more than 200 years with its collection of more than 2,400 pieces spanning from the 13th. In 2024, the world-leading institution welcomed 4.7 million visitors to the National Gallery collection and in recent years has grown its digital and social media reach to more than 295 million art lovers.
“We are proud to support the National Gallery at this transformative juncture, where modern and contemporary art meet the digital frontier,” said Kate Oh, head of Experiential Marketing at the LG Media Entertainment Solution Company. “Through LG OLED’s unrivalled display technology, we are honoured to collaborate with visionary artists and help reimagine the gallery experience for a new generation. In recent years, LG OLED ART has become the standard for digital art, working with some of the world’s greatest living artists to create installations around the world – we’re excited to see how this new partnership can lead to new incredible works in the future.”
“We are delighted to announce our collaboration with LG Electronics as our new Modern and Contemporary Art Partner. LG’s dedication to supporting artists, enriching cultural experiences and engaging global audiences will help us inspire dialogue between the works of the past and present, and encourage visitors to engage with our collection in new ways,” said Sir Gabriele Finaldi, Director of the National Gallery. “Through the use of innovative technologies, we will bring new perspectives to our masterpieces, together. We are thrilled to be working together to bring art to life and share our world-renowned collection with more people.”
A Personalized Gallery of Art and Imagination
This September, LG also introduced , a new visual curation service that enriches living spaces with art and imagery tailored to each user’s style and mood. Featuring over 4,000 selected images, personalization options and adaptive smart features, LG Gallery+ helps shape the ambiance of a space through art, creativity and atmosphere.
The collection includes fine art, cinematic stills, game-inspired scenes and photography, turning everyday screen time into a visually inspiring experience. Through partnerships with renowned cultural institutions, users can explore masterpieces from the National Gallery, London, such as A Wheatfield, with Cypresses by Vincent van Gogh and Bathers at Asnières by Georges Seurat.
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Credit Usage Guidelines
When using featured artwork from the National Gallery, London in an article, ensure the following credits are provided:
Stacked Credit
Georges Seurat, 1859–1891
Bathers at Asnières, 1884
© The National Gallery, London
Line Credit
Georges Seurat, 1859–1891. Bathers at Asnières, 1884 © The National Gallery, London
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By News Reporter
Building a Stronger Foundation for Long-Term Qualitative Growth
Through Portfolio Shifts and Operational Resilience
SEOUL, July 25, 2025 — LG Electronics Inc. (LG) today announced consolidated revenue of KRW 20.74 trillion and operating profit of KRW 639.4 billion for the second quarter of 2025.
Both revenue and operating profit declined year-over-year, primarily due to continued global market softness, increased tariff burdens driven by changes in U.S. trade policy, and intensified competition. Rising costs, including logistics expenses, also weighed on overall profitability compared to the same period last year.
Despite these challenges, the Home Appliance Solution (HS), Vehicle Solution (VS) and Eco Solution (ES) Companies delivered strong performance, each posting year-over-year increases in both revenue and operating profit. All three Companies achieved their highest-ever second-quarter results. In particular, the VS Company recorded its best quarterly revenue and operating profit in history.
Meanwhile, the Media Entertainment Solution (MS) Company reported an operating loss, primarily due to lower TV sales and increased marketing spend. However, its webOS platform-based advertising and content business continued to generate stable profits, increasingly contributing to the Company’s overall performance.
Building Stronger Foundation for Qualitative Growth
LG continues to strengthen its business fundamentals by focusing on B2B segments such as vehicle components and HVAC systems, non-hardware businesses including subscription services and the webOS platform, and direct-to-consumer (D2C) operations via its online platform, LGE.COM.
In Q2 2025, B2B revenue – including vehicle, component and smart factory solutions, as well as HVAC – rose 3 percent year-over-year to KRW 6.2 trillion. Revenue from the home appliance subscription business increased 18 percent, reaching KRW 630 billion.
These segments remain central to the company’s ongoing portfolio transformation. The B2B business is less susceptible to demand volatility and benefits from strong entry barriers due to solution-based customer relationships. Non-hardware businesses offer recurring revenue and high margins, while the D2C channel enhances profitability and brand equity.
Q2 2025 Results & Outlook by Company
LG Home Appliance Solution (HS) Company
The HS Company posted second-quarter revenue of KRW 6.59 trillion and operating profit of KRW 439.9 billion, achieving its highest-ever second-quarter performance. Despite soft consumer demand, tariff pressures and rising freight costs, the Company maintained strong global competitiveness. Its dual-track strategy – targeting both premium and mass-market segments – continued to drive solid results. The subscription model business continued its rapid expansion. Operational efficiencies and production optimization helped offset increased costs and support profitability.
Looking ahead, market recovery is expected to remain gradual amid heightened competition. The Company will focus on expanding its subscription and D2C businesses and pursue additional cost improvements to help mitigate U.S. tariff impacts. While logistics cost pressures are projected to ease slightly compared to late 2024 and early 2025, the Company plans to carefully manage marketing expenditures to sustain or exceed last year’s level of operating profit.
LG Media Entertainment Solution (MS) Company
The MS Company posted second-quarter revenue of KRW 4.39 trillion and an operating loss of KRW 191.7 billion, primarily due to softened demand leading to lower TV sales and increased marketing expenses in response.
Going forward, the Company will focus on enhancing operational efficiency across all business segments. It plans to expand its presence in Global South markets such as India, where demand remains relatively strong. Continued growth is also expected in the webOS platform business, with new content offerings in areas such as gaming and digital art.
LG Vehicle Solution (VS) Company
The VS Company generated record second-quarter revenue of KRW 2.85 trillion and operating profit of KRW 126.2 billion – the highest in its history. Performance was supported by a robust order backlog and increased OEM vehicle sales, particularly in Europe.
A strategic shift toward premium in-vehicle infotainment (IVI) systems significantly enhanced profitability, while operational efficiency improvements in electric vehicle components and lighting systems further bolstered results. Moving forward, the Company will focus on strengthening relationships with key customers and maintaining profitability through ongoing efficiency gains.
LG Eco Solution (ES) Company
The ES Company achieved second-quarter revenue of KRW 2.64 trillion and operating profit of KRW 250.5 billion, marking a record for second-quarter performance. This growth was driven by strong demand for residential air conditioners in Korea and continued expansion in the commercial and industrial HVAC segments. Higher sales volumes boosted operating leverage, leading to improved profitability.
Looking ahead to the second half of the year, the Company aims to capture replacement demand for high-efficiency products while expanding its product portfolio to support long-term growth. It also plans to explore new opportunities in emerging sectors such as AI data centers by enhancing its commercial HVAC and industrial chiller capabilities – including systems for power generation – and scaling up its liquid-cooling solutions business.
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