LG Releases Preliminary Earnings for Second-Quarter 2022
By News Reporter
With its market leadership strengthening significantly over the last decade, LG continues to offer constantly evolving, exclusive values through LG OLED TVs ushering in a new era for the television as well as LG QNED TVs rejuvenating the LCD space. Aligning with its Sync to You, Open to All vision, LG’s newest TV additions are akin to home hubs designed to enrich everyday life through cutting-edge technologies.
LG’s 2023 TV lineup, which will be available in Korea and global markets starting this month, highlights a decade of OLED technology advancements with premium self-lit picture quality, cutting-edge image processing for brighter, crisper images and an enhanced webOS platform equipped with more smart features and services.
With an award-winning reputation for exceptional picture quality, contrast, inky blacks and wide viewing angles, LG OLED TVs have outdone themselves yet again by offering flawless performance as well as the widest selection of resolutions (4K, 8K, etc.), form factors (rollable OLED, bendable OLED), designs and sizes (42 to 97 inches1), giving users the freedom to choose the perfect screen for their unique needs, preferences and homes.
A significant upgrade coming to this year’s OLED evo G3 series is LG’s Brightness Booster Max technology, which incorporates brand-new light control architecture and light-boosting algorithms to increase brightness by up to 70 percent2. Brightness is mapped and controlled on a pixel-by-pixel basis, resulting in sharper, more realistic images. The OLED evo G3 series also applies Super Anti Reflective technology3 to reduce visual distractions such as light glares and reflections, and even introduces the world’s largest OLED TV (97 inches) for next-level immersion on a grand scale.
The new α9 AI Processor Gen6 of 2023 OLED evo series leverages sophisticated AI-assisted Deep Learning technology to deliver top-notch picture and sound quality through AI Picture Pro, which improves upscaling so that content can be experienced exactly how the creators intended. On top of this, OLED Dynamic Tone Mapping Pro reveals hidden details to bring greater depth to every frame and AI Sound Pro fills the room with virtual 9.1.2 surround sound from the TV’s built-in speakers to place viewers into the scene. Furthermore, LG’s latest TVs and soundbars4 work seamlessly together and create three-dimensional sound, courtesy of WOW Orchestra.
Inspired to invent unique lifestyle experiences through its Life’s Good philosophy and Sync to You, Open to All vision, LG is revolutionizing the TV’s role at home by syncing viewers’ experiences with their unique tastes and lifestyles through new features, designs and much more.
Featuring the latest webOS, this year’s models introduce the All-New Home, a redesigned user interface (UI) offering a wealth of customization options and convenience. New Quick Cards – convenient categories such as Home Office, Gaming, Music and Sports – present users with the best way to access their most-viewed content and services.
Designed for all, the new webOS makes it easy for anyone using the TV to enjoy personalized recommendations, which are determined based on viewing history and viewing habits. AI Concierge not only curates content based on past usage and searches, but also suggests trending titles and useful settings and features – from Family Care and Eye Comfort to Multi-View mode.
To create the most seamless cross-device experience, LG’s latest TVs are compatible with the new smart home standard, Matter, giving users the ability to control and monitor various smart home devices from a growing list of global manufacturers on their TV.
Also being added to LG’s 2023 TV lineup are new QNED TVs leveraging Quantum Dot NanoCell Color technology to produce rich, accurate and lifelike colors that complete the unforgettable viewing experience. Equipped with QNED Million Grey Scale Block Dimming technology,5 the latest QNED Mini LED TVs come the closest to the contrast and black levels of OLED. What’s more, LG’s 2023 Mini LED TVs not only boast 64-times-greater contrast than their predecessors to achieve one million dynamic gradations, but also designs that are slimmer and harmonize with LG’s newest soundbars.
LG’s latest QNED Mini LED TVs are branded as ‘QNED evo’ TVs only in Korea
LG has implemented various features to help people of all abilities use its products, like voice descriptions when navigating menus, on-screen content and search results. Should the TV switch to standby mode, the user will receive voice notifications detailing the screen’s status and recommended actions. Also, by long-pressing LG Magic Remote’s mute button, users can find the Learn TV Remote feature which teaches them how to use the smart remote’s handy features. Finally, the Sign Language Zoom feature lets hearing-impaired users enlarge the sign language interpreter on screen.
LG is also championing environmental sustainability by reducing its plastic usage during TV production, and by ramping up its use of recycled plastics and materials featuring single-color printing.
To learn more about LG’s 2023 TVs, visit
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1 Availability of each series and size option varies by country.
2 Applies to 55/65/77-inch G3 models and is a measurement of full screen whites.
3 Applies to 77/88-inch Z3 models and 55/65/77-inch G3 models.
4 Feature will be added via software update.
5 Applies to QNED85 model.
Hi, I have a feature request for the sound out setting. I often connect my Bluetooth headphones to the TV. We don't use the internal speaker of the TV, we use the optical sound out setting whenever I don't use Bluetooth. It would make our lives a lot easier if the TV can remember the last sound out setting before connecting to Bluetooth and default back to this setting when the Bluetooth device gets disconnected. At the moment, each time I disconnect the headphones I have to go back into settings and change the sound out setting from internal speaker to optical again.
Thanks and regards
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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By News Reporter
SEOUL, Jan. 6, 2023 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the fourth quarter and full-year of 2022. The company’s annual revenue for 2022 surpassed KRW 80 trillion for the first time in its history.
LG reported revenues of KRW 21.9 trillion in the fourth quarter of 2022, 5.2 percent higher than the same quarter the previous year and the highest quarterly revenue in the company’s history. Operating profit for the fourth quarter was KRW 65.5 billion, expected to be 91.2 percent lower than the same quarter of the previous year based on consolidated financial statements.
LG’s annual revenue surpassed KRW 80 trillion, totaling KRW 83.5 trillion in 2022, an increase of 12.9 percent over 2021. Annual operating profit of KRW 3.5 trillion is expected to be 12.6 percent lower than the previous year.
These figures are the 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
LG Electronics North American Innovation Center Explores New Ideas to
Accelerate for Innovation Program With Cohort Led by Digital Health
LAS VEGAS, Jan. 5, 2023 — The LG Electronics North American Innovation Center – LG NOVA – has announced its new selection of companies in the
link hidden, please login to view for innovative concepts and transformative solutions that create a positive impact on people and the planet. Selected from 2,170 submissions, these companies are joining the LG NOVA program to explore joint business creation with LG NOVA. A subset of these companies will be presented at the LG NOVA lounge in Eureka Park during CES® 2023 to visually showcase a vision of the future built with solutions centered on improving the quality of life for all. This year, LG received 752 applications focusing on digital health – lending confidence to a promising future in health and wellness technologies.
“With 800 more submissions than our first search, we at LG NOVA are honored and inspired by the dedication of so many – through their innovative ideas and business concepts – to making a positive impact on the world, true to the goal of our Mission for the Future program,” said Dr. Sokwoo Rhee, LG Electronics Senior Vice President of Innovation and head of LG NOVA. “This new selection of companies and our growing LG NOVA universe demonstrate that there are solutions on the horizon with the goal of making the world a better place. We’re looking forward to working with these companies to accelerate their ideas to the broader market.”
Attendees of Eureka Park at CES 2023 will get an inside look into LG NOVA’s unique model of innovation through outside-in collaboration, and learn about companies spanning LG NOVA’s focus tracks, including Digital Health, Display Solutions, Environmental-Social-Governance (ESG) & Electric Mobility, Metaverse & Gaming, Smart Lifestyle and Open Innovation.
LG NOVA Mission for the Future 2022 companies are:
– a digital health benefits management platform that seeks to make healthcare simpler. – a mobile app that delivers clinically tested personalized sound therapies designed to maintain and restore hearing and provide relief from tinnitus. – a global digital therapeutic health company leveraging AI and its virtual care platform to prevent, treat and reverse chronic conditions, starting with pre- and Type 2 diabetes and digestive health, while optimizing the physical and mental well-being of its patients. – an innovative digital program that delivers unlimited, live human coaching to your entire organization, reducing the cost of chronic conditions, increasing employee engagement and happiness and is 100 percent covered by insurance. – an integrated Virtual Care Management Platform using remote patient monitoring, chronic care management, AI-guided care coordination and more, that helps to manage chronic conditions remotely. – a virtual-first cardiology provider, delivering a range of clinical services, including same-day diagnostic reads, televisits and heart care programs for patients with atrial fibrillation, vascular diseases and heart failure. – scaling access to medical obesity care with full-service chronic disease management services using tech-enabled tools, including virtual care platforms that incorporate telehealth, clinical decision support, remote patient monitoring, online education tools and medical treatment approaches. – a leading online psychiatry practice specializing in women’s mental health. – a metabolic health company building the future of eating for wellness, longevity and weight loss for the middle aged. – using vital signs automation and patient engagement in HD to transform the patient intake experience. – provides healthcare practitioners and patients real-time solutions on how to screen, triage, track and manage skin cancers, skin diseases and skin wounds through artificial intelligence, data and automation. – develops digital therapeutics that combine AI, clinically-proven techniques and a mental health ally called Woebot to deliver mental health solutions that engage at scale and fit right into people’s lives. Display Solutions
– an innovative company in thin film electronics developing the next generation of high-performance integrated circuits for consumer and commercial electronics. – creates professional holographic display technology for natural 3D visual experiences. – a company specializing in the development of interactive technology solutions, including a mixed reality display which allows interaction with surroundings and provides no-code solutions to make interactive contents for display screens. – a smart photo booth utilizing data capture and AR for engagement and distribution. – transforms glass facades into transparent video screens on which the content doubles as glare and climate control, combining immersive entertainment with sustainability and profitability. ESG & Electric Mobility
– a sustainable thermal engineering company focused on re-engineering sustainable cooling. – a software, IoT and services platform designed to make it easy and cost-effective to deploy decarbonization improvements to mass-market commercial and industrial customers. – a reliability management platform for EV charging stations. – a business-to-business software-as-a-service that tackles energy resources and waste at a household level. – a technology platform making meaningful climate action a part of every business by providing carbon credit buyers with access to carefully vetted climate action projects. – a company focused on developing wind energy 2.0 through its energy drone that unlocks untapped wind resources at higher altitudes on-shore and in deeper waters off-shore. Metaverse & Gaming
– a solution that enables Web3 ready, bi-directional broadcasting bridging physical and virtual environments, from websites to digital out-of-home experiences (DooH) to the metaverse. – a no-code XR authoring platform for the metaverse. – leverages the power of augmented reality and AI to create a personal expert for everyone. – a cloud streaming platform which enables enterprise use cases on XR devices like the Meta Quest for industries like telecoms, manufacturing, automotive and architecture. – accelerating the adoption of the premium metaverse by creating high-fidelity 3D worlds and immersive experiences that excite, engage and preserve culture. – makes using virtual and augmented reality as easy to use as a smartphone. – a spatial computing platform to power talent development and skills mobility for the future of work. Smart Lifestyles
– patented, connected entertainment technology that allows virtually every app and device to connect to media at the push of a button. – a smart kitchen appliance that automatically introduces ingredients separately during cooking, while also stirring and controlling the temperature, just like a chef. – a software company that has developed emotional intelligence technology for digital assistants that enables more human-like interactions and improved personalization. (Li Creative Technologies, Inc.) – creates vivid, exciting and directional 3D audio solutions enabled by AI and VR. – develops a fully autonomous and accessible delivery robot, providing scalable solutions for first mile, curbside and last mile deliveries for airport, retail and restaurant industries. – an immersive and interactive edutainment platform utilizing AI, robotics and the metaverse. Open Innovation
– embedded, digital-by-design, minimalist and wearable biosensors with the goal of sensing targeted molecules anywhere with a simple smartphone. – a venture-based company that uses AI and advanced robotics for automated experimentation to facilitate and accelerate materials discovery. – a software-as-a-service venture that provides “AI Guards” to security companies for crime prevention. The selected companies may have the opportunity to explore the development of joint solutions with LG NOVA, that deliver a better life for people and a better future for our planet. Following the exploratory phase, companies may be chosen for a pilot program or to develop the product or concept with LG NOVA and participating businesses within LG. Some may qualify for potential investments from LG Electronics, LG Display and other LG NOVA affiliates; and co-collaboration opportunities that may develop into multi-million-dollar engagements as new businesses within LG’s global innovation portfolio.
For more information on the Mission for the Future and LG NOVA, please visit .
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