LG UltraGear Gaming Monitors First in the World to be Certified as VESA AdaptiveSync Display
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By News Reporter
Company Pushes Boundaries With Innovative Business Models
While Balancing Core Operations and Future Growth to Create New Opportunities
SEOUL, April 25, 2024 — LG Electronics Inc. (LG) announced first-quarter 2024 consolidated revenue of KRW 21.09 trillion and operating profit of KRW 1.33 trillion. The company’s home appliance sector demonstrated global leadership, achieving record-breaking revenue and double-digit operating profit margins. The EV components sector, a key driver of future growth, continued its steady expansion. Both the TV and business solutions sectors experienced year-on-year sales growth and returned profits compared to the previous quarter.
Despite navigating challenging macroeconomic conditions such as high commodity prices, volatile exchange rates, rising interest rates and delayed demand recovery, LG achieved its highest-ever total revenue for a first quarter. This milestone underscores the effectiveness of implementing sustainable business models like subscription services and leveraging growth opportunities in the promising B2B sector. LG’s emphasis on differentiating features such as AI, energy efficiency and customer-centric design has strengthened its competitiveness in the premium market. Furthermore, the strategic approach of offering diverse product lineups and flexible pricing structures enabled the company to successfully navigate polarized demand trends.
Operating profit surpassed KRW 1 trillion for the fifth consecutive year, showcasing LG’s strong performance in the face of intensifying market competition. The company’s focus on content/service businesses and direct-to-consumer sales via the Online Brand Shop (OBS) has fueled qualitative growth. Efforts to stabilize raw material and logistics costs, coupled with production location flexibility, have further bolstered profitability.
The LG Home Appliance & Air Solution Company generated first-quarter revenue of KRW 8.6 trillion and an operating profit of KRW 940.3 billion. This represents a notable 7.2 percent increase in revenue compared to the same period last year, setting a new record for first-quarter performance. Operating profits reached the second-highest level in the company’s history, with an operating profit margin of 10.9 percent, underscoring the company’s exceptional global competitiveness.
Driven by its core technologies, particularly in motors and compressors, LG’s home appliance business continues to innovate within a mature market landscape. With a commitment to industry leadership, LG is pioneering transformative initiatives such as product subscription services and advancing the concept of ‘Affectionate Intelligence’ appliances. These innovations are tailored to empathize with and address customer needs effectively. Moreover, LG is strategically expanding its B2B ventures, including HVAC and built-in solutions, to capitalize on emerging growth opportunities.
The LG Vehicle component Solutions Company reported first-quarter revenue of KRW 2.66 trillion and an operating profit of KRW 52 billion, reflecting an 11.5 percent year-on-year revenue increase. The ongoing conversion of backlog orders into revenue is progressing steadily. Despite ongoing investments in overseas production sites to fulfill new orders and meet OEM demands, the company has maintained stable profitability, benefiting from economies of scale resulting from revenue expansion.
While there are expectations of a slight slowdown in the recent growth of EV demand, the demand for high-value-added EV components continues to rise steadily. LG is proactively addressing these market dynamics by developing a balanced portfolio, spanning from in-vehicle infotainment to powertrains and headlamps. The company aims to ensure sustained revenue growth and a stable profit base by actively adapting to these market shifts.
The LG Home Entertainment Company reported first-quarter revenue of KRW 3.49 trillion and an operating profit of KRW 132.2 billion. This represents a 4.2 percent increase in revenue compared to the same period last year, driven by a resurgence in TV demand in Europe and the successful launch of new 2024 models. The positive operating profit was fueled by the robust performance of the webOS content/service business, alongside traditional product sales. Despite challenges such as rising LCD panel prices, the company effectively managed profitability.
Looking ahead, a gradual recovery in the TV market demand is anticipated in the second half of the year. LG’s strategy focuses on leveraging its globally leading OLED TV and premium LCD QNED TV offerings while continuously enhancing the profitability of the webOS platform business, which is poised for rapid growth.
The LG Business Solutions Company reported first-quarter revenue of KRW 1.57 trillion, marking a 6.5 percent increase year-over-year, and an operating profit of KRW 12.8 billion. The launch of new LG gram laptops, featuring on-device AI and timed for graduation and enrollment seasons, garnered positive market feedback. In addition, sales of commercial display products, including electronic whiteboards and LED signage, experienced growth. While operating profit returned to positive territory from the previous quarter, there was a slight decrease compared to the same period last year, attributed to factors such as rising component prices and intensified competition.
This year, the overall IT market is expected to maintain similar demand levels to the previous year, with a slight growth anticipated in the commercial display segment. There is an expected increase in demand for high-spec IT products like gaming monitors and LED signage. LG aims to lead the market with strategic IT products tailored to customer needs, integrating gaming-specific features and OLED displays, alongside premium LED products. Efforts to proactively develop promising new businesses such as robotics and EV charging continue to drive future growth prospects.
Earnings Conference and Conference Call
LG Electronics will hold a Korean / English conference call on April 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
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
Company Achieves Record-breaking
First-Quarter Revenues by Surpassing Boundaries Once Again
SEOUL, Apr. 5, 2024 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the first quarter of 2024, reporting a consolidated revenue of KRW 21.09 trillion and operating profit of KRW 1.33 trillion.
The company marks the highest first-quarter revenue in its history. The implementation of innovative business models such as subscriptions, along with the expansion of B2B operations, have proven to be crucial in overcoming challenges like the delayed recovery of market demand. From a product perspective, LG’s strategy to enhance the product range and price coverage of volume zone lineups, in response to market demand polarization, has demonstrated significant effectiveness. This strategy, combined with the company’s dedication to sustaining strong competitiveness in the premium market by emphasizing unique factors like AI, has played a substantial role in achieving the impressive figure.
The first-quarter operating profit has surpassed KRW 1 trillion for the fifth consecutive year since 2020. The company’s content and service business, which leverages its hundreds of millions of devices distributed globally as a platform, along with D2C sales, are driving qualitative growth and enhancing the contribution to the company’s operating profit. Measures such as resource allocation, stabilization of raw material and logistics costs and ensuring the flexibility of the global production operation system have also played a part in maintaining stable profitability.
In the home appliance & air solution business, new products like the LG Styler clothing care system, LG WashCombo All-in-One and LG WashTower have led growth, receiving positive market feedback. The strategy of expanding the volume zone lineup to cater to regional characteristics and shifts in demand in international markets has been successful. The company is also growing its B2B business, including HVAC, built-in appliances and component solutions.
LG aims to expedite the paradigm shift in home appliances by introducing subscription services that allow customers to choose appliances and product management services that suit their lifestyles. Also, as AI expands its role in customer electronics, the company is incorporating its Affectionate Intelligence into its devices and services, aiming to provide a unique customer experience that goes beyond basic AI, offering more thoughtfulness and empathy towards customers.
In the vehicle component solutions business, a secured backlog of orders is driving gradual sales growth. The order backlog is expected to exceed KRW 100 trillion in the first half of this year, increasing from the mid-90 trillion range at the end of last year. For In-vehicle Infotainment, a major contributor to sales, the emphasis this year is on bolstering software capabilities and broadening the spectrum of unique products. LG Magna e-Powertrain, having achieved profitability last year, is poised to accelerate growth by securing additional orders from the European and Asian markets. Concurrently, ZKW, a subsidiary specializing in vehicle headlamps, is strategizing to develop next-generation product capabilities while optimizing its business structure.
The home entertainment business is continuing to experience meaningful growth with the launch of new 2024 OLED TV lineup with enhanced AI performance as well as the expansion of webOS content and services. Starting this year, the company will actively deploy dual-track strategy driven by both the top-tier OLED lineup and the QNED lineup to lead the premium market. Furthermore, the webOS platform business will be developed into a scalable, high-profit business this year.
The business solutions sector continues to innovate customer experience through strategic products such as the new LG gram that comes with the latest on-device AI functions and gaming monitors. This year, the company will position itself with a competitive lineup of the commercial displays and continue to invest in future growth engines such as robots and electric vehicle charging, accelerating the early deployment of promising new businesses.
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
(Photo credit: Paweł Bastrzyk, ESL FACEIT Group)
Every gamer, casual and professional alike, will admit that victory or defeat is decided by a second, and sometimes even less. The best opportunity to demonstrate the power of the new LG UltraGear OLED gaming monitor (model 27GS95QE) was at the annual gaming celebration – IEM Expo, held in conjunction with Intel® Extreme Masters Katowice 2024 in Poland.
LG UltraGear gaming monitors have long been recognized for their gaming features. LG collaborates with Gen.G Esports, one of the biggest esports organizations in the world, and LG UltraGear gaming monitor is also an official display of the League of Legends EMEA Championship (LEC) 2023.
(Photo credit: Helena Kristiansson, ESL FACEIT Group)
Held annually since 2013, Intel Extreme Masters in Katowice is an opportunity for Counter-Strike and Starcraft® II fans to meet. This year, the prize pool for the top teams of the final was USD 1,500,000 for both tournaments. Team Spirit’s dominant victory was driven by one of the best professional tier 1 Counter-Strike debuts of all time following an incredible performance from Team Spirit’s 17-year-old prodigy Danil “donk” Kryshkovets.
The fastest-selling IEM Katowice tournament in history, the event saw a peak viewership of over 972,000 for Counter-Strike 2 and more than 77,000 for StarCraft II, according to escharts.com. The sold-out Spodek Arena and MCK Auditorium welcomed over 65,000 fans across four days of live StarCraft II competition, and three days of Counter-Strike action, complemented by IEM Expo.
(Photo credit: Paweł Bastrzyk, ESL FACEIT Group)
With its involvement in the Intel Extreme Masters Katowice 2024, LG Electronics Poland has shown its commitment to providing gamers with the highest quality gaming monitors and allowing them to check the quality of the monitors with their own eyes.
Visitors to the booth, which featured 16 LG UltraGear OLED gaming monitors, could see for themselves such a difference the use of self-luminous pixel technology makes.
(Photo credit: Paweł Bastrzyk, ESL FACEIT Group)
The LG UltraGear OLED gaming monitor (model 27GS95QE) has a 26.5-inch OLED display with high refresh rates (240Hz), fast response times and outstanding picture quality with Quad-HD (2,560 x 1,440) resolution. Already traditional for the LG UltraGear series, the monitor supports the AMD FreeSync Premium Pro and NVIDIA G-SYNC standards for a smooth gaming experience. Fans of adventure or sports games will appreciate the HDR support, guaranteeing a display with a wide tonal range that are VESA DisplayHDR True Black 400 certified. In addition, the monitor screen is bezel-free, allowing users to see every detail and enjoy full immersion.
And, with Anti-Glare & Low Reflection coating, LG UltraGear OLED gaming monitor ensures users won’t be distracted by glares on the display, even in areas illuminated by vivid lights.
LG UltraGear OLED gaming monitors offer features and capabilities that take the entire gaming experience to the next level. LG will continue to enhance the strong reputation of the UltraGear brand by engaging with special gaming and e-sports projects and creating innovative products that put the needs of gamers first.
(Photo credit: Paweł Bastrzyk, ESL FACEIT Group)
Contributed by LG Poland
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By News Reporter
‘Born to Game,’ LG UltraGear Has Been Supporting Gen.G Teams With Its High-
Performing Gaming Monitors Since 2021
SEOUL, Jan. 17, 2024 — LG Electronics (LG) is extending its official partnership with Gen.G Esports (Gen.G), one of the world’s preeminent esports organizations. As part of this collaboration, LG UltraGear – the industry-leading gaming monitors, renowned for their rapid refresh rates and responsive performance – will continue to be provided to Gen.G’s professional teams. The partnership aims to promote esports globally and will involve various exciting activations in the international esports scene.
Gen.G operates a number of professional esports teams specializing in popular multiplayer games including League of Legends. Since LG UltraGear was named the official display of Gen.G in 2021, the organization’s League of Legends team in South Korea has achieved remarkable success in the League of Legends Champions Korea. The team secured three consecutive season victories – starting from the 2022 summer season through to the 2023 summer season.
Chovy, a gold medalist in the League of Legends event at the 19th Asian Games Hangzhou and the mid-laner for Gen.G’s League of Legends team, praised LG UltraGear gaming monitors saying, “Their quick response times and high refresh rates provide an advantage in complex in-game situations, enabling more precise control and smoother playmaking.” While very impressed by all of the high-performance options in the UltraGear monitor lineup, Chovy’s personal favorite is the 27-inch UltraGear OLED gaming monitor (model 27GR95GE).
In addition to supporting Gen.G team members in their pursuit of championship goals, LG actively collaborates with them in the development of new LG UltraGear gaming monitors. The feedback from professional players helps fine-tune the latest models. The recently unveiled League of Legends-themed UltraGear OLED gaming monitor (model 27GR95QL) offers an incredibly immersive gaming experience with a unique ‘League of Legends’ aesthetic, and its design was influenced by input from professional players. LG also supports the Gen.G Global Academy by providing ultra-fast gaming monitors (model 25GR75FG) to students aspiring to become esports professionals.
“It is such an honor to enter into our fourth year of partnership with LG UltraGear. Since 2021, they have been our partner in innovation, enriching the world of esports for gaming fans around the globe,” says Arnold Hur, CEO of Gen.G Esports. “They support not only our professional teams, but also the development of the next generation of gamers in the Gen.G Global Academy.”
“We are very proud and pleased that LG UltraGear is helping Gen.G players to deliver consistently excellent results in major tournaments,” said YS Lee, vice president and head of the IT business unit of LG Business Solutions Company. “LG UltraGear remains committed to developing high-end gaming products and to supporting the latest gaming technologies, with the goal of delivering a gaming experience that can satisfy all esports players, whether they’re enthusiastic amateurs or top-ranked professionals.”
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