LG CEO and Key Executives Outline Directions To Diversify Business Portfolio
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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
LG Offers Greater Versatility Across a Wider Range of Products From
Third-Party Brands With Latest Upgrade to Its webOS Ecosystem
SEOUL, Nov. 17, 2023 — LG Electronics (LG) announced that the new webOS Hub 2.0S for third party brands – released for TVs in September – is branching out this month to include smart monitors, responding to the expanding smart TV market as well as the highly increasing number of single-person households. While smart TVs are catered to family households, the rising trend of single-person households has led to a significant demand for smart monitors, making webOS Hub 2.0S, which offers both convenience and a large variety of content, a great choice for smaller screens as well.
The new webOS Hub 2.0S presents greater hardware adaptability, broadening its availability beyond smart TVs, and is able to provide more options for third-party brands to offer a customizable user experience.
A new addition on the main home UI screen of webOS Hub 2.0S is the Card App Home Hub & Music, granting access to an abundance of services with one remote click. Featuring a smart home ecosystem dashboard, users can customize control capabilities with supportive device status monitoring for TVs and IoT-based devices.
Designed to meet a diverse range of user needs, the webOS Hub 2.0S offers comprehensive services with a variety of features. Users can easily access music from popular apps such as Spotify or music stored in USB drives via the Card App Music feature. Functions such as Remote PC allow easy access to content for hybrid work, ensuring users a seamless transition to office PCs or laptops. The platform enables convenient video calling and conferencing with support for USB cameras* and encourages productivity with an elevated home fitness experience. To cater to students and working professionals, webOS 2.0S allows accessibility to streaming services like Netflix and YouTube. Compatibility with Apple Home and AirPlay* enables users to easily and securely control compatible smart home accessories and effortlessly stream movies, music, games, and photos using their Apple devices as well.
Affirming its exceptional services and unparalleled versatility, LG has diligently bolstered its market presence over the past three years by integrating the webOS Hub into various third-party products with over 300 brands joining in this exciting endeavor.
Following the success of the company’s approach, LG is expanding the webOS Hub platform to a broader range of smart TVs and smart monitors, solidifying its presence in the industry with a commitment to providing seamless access to the webOS Hub experience across multiple devices.
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*Apple Home and AirPlay, USB camera features are only available on the 1.5GB model equipped with webOS Hub 2.0S.
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By News Reporter
Joining Forces to Pave the Way in Next-Generation Extended Reality Experiences
SEOUL, Feb. 28, 2024 — LG Electronics (LG) is ramping up its strategic collaboration with the global tech powerhouse, Meta Platforms, Inc. (Meta), aiming to expedite its extended reality (XR) ventures. The aim is to combine the strengths of both companies across products, content, services and platforms to drive innovation in customer experiences within the burgeoning virtual space.
Forging an XR Collaboration With Meta
On February 28, LG’s top management, including CEO William Cho and Park Hyoung-sei, president of the Home Entertainment Company, met with Meta Founder and CEO Mark Zuckerberg at LG Twin Towers in Yeouido, Seoul. This meeting coincided with Zuckerberg’s tour of Asia. The two-hour session saw discussions on business strategies and considerations for next-gen XR device development. CEO Cho, while experiencing the Meta Quest 3 headset and Ray-Ban Meta smart glasses, expressed a keen interest in Meta’s advanced technology demonstrations, notably focusing on Meta’s large language models and its potential for on-device AI integration.
Paving the Way in Next-Gen Extended Reality Experiences
LG envisions that by bringing together Meta’s platform with its own content/service capabilities from its TV business, a distinctive ecosystem can be forged in the XR domain, which is one of the company’s new business areas. Moreover, the fusion of Meta’s diverse core technological elements with LG’s cutting-edge product and quality capabilities promises significant synergies in next-gen XR device development.
XR devices are heralded as next-generation personal devices capable of surpassing mobile screens’ limitations in immersion and intuitiveness. Wearable devices offer the potential to substantially broaden customer interactions. CEO Cho previously remarked, “We see opportunities for next-gen personal devices in the XR business arena.”
Continued Portfolio Enhancement Through Selection and Concentration
Over recent years, LG has strategically concentrated resources on promising future areas with anticipated high growth, opting to minimize marginal businesses based on market dynamics and strategic assessments. The collaboration with Meta aligns with this strategy, aimed at spearheading innovations in customer experiences within the future virtual space, anticipating the full-fledged development of the XR market.
Last year, LG unveiled its Future Vision 2030, outlining its long-term goal of evolving into a Smart Life Solution Company that can seamlessly connect and expand customer experiences across various domains, including home, commercial, mobility and virtual spaces. As part of an organizational reshuffle at year-end, a dedicated XR business unit was established within the Home Entertainment Company to accelerate the pursuit of new ventures in the virtual space arena.
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By News Reporter
Suitable for Both Small Businesses and Large Enterprises, New Cloud-Based Platform
Streamlines Management of LG Digital Signage Solutions
SEOUL, Jan. 26, 2024 — LG Electronics (LG) is set to unveil its innovative cloud solution platform, LG Business Cloud, at Integrated Systems Europe (ISE) 2024. The convenient, new platform allows business customers to browse and subscribe to LG digital signage cloud solutions and manage them all remotely. LG Business Cloud is compatible with multiple LG digital signage lineups including Micro LED displays, commercial TVs, Transparent OLED Signage and LED displays.*
LG Business Cloud enables customers to establish a commercial cloud solution for their LG digital signage with a straightforward, one-time sign-up process. Along with eliminating the need to browse several different pages, submit inquiries and engage with sales representatives, the new platform offers educational videos (from beginner to expert level) catering to diverse business needs and explaining how to get the most out of LG’s specialized cloud offerings. Additionally, the structure of LG Business Cloud enhances user convenience, allowing for customer inquiries to be addressed directly on the website.
The platform includes the LG SuperSign Cloud digital signage content management solution (CMS) and LG Pro:Centric Cloud, the company’s hotel TV-focused CMS. These solutions give users the flexibility to customize content (e.g., welcome messages, facility information and promotions) displayed on their LG digital signage and to set up display schedules. Also on LG Business Cloud is the LG ConnectedCare remote management solution, which actively monitors the performance/condition of LG signage and promptly sends email notifications if unexpected events are detected. Additionally, LG ConnectedCare lets users remotely adjust various signage settings, such as screen brightness and volume.
The versatile Business Cloud platform enables users to explore all of LG’s cloud solutions and experience them firsthand by taking advantage of the trial licenses on offer. Once customers have selected the LG cloud solution they wish to subscribe to, they can configure the duration of the relevant license agreement and easily activate the license post-purchase. What’s more, LG Business Cloud places no restrictions on the number of devices that customers can use to access it; empowering businesses of all sizes, from small enterprises to corporate giants, to manage their signage displays more efficiently.
Furthermore, LG Business Cloud boasts a user-friendly interface that makes it accessible for users of all levels. Users can monitor the status of connected LG digital signage in real-time, and enjoy the efficiency of effortless remote control. Customers can take advantage of remote control functions such as on/off and reboot, as well as a dashboard feature that enables them to easily check signage operating status.
In addition, the partner solutions offered through LG Business Cloud also include media art applications that grant users access to a variety of dynamic artwork, and service applications that deliver real-time weather, flight and local tourism information.
A valuable tool for retail, corporate and public sector clients, LG Business Cloud is a one-stop solution for comparing, subscribing to and managing LG digital signage cloud solutions. It consolidates an array of related services and functionalities to elevate the overall customer experience, and will eventually encompass additional product categories to deliver even greater value and convenience.
At CES 2024, LG CEO William Cho highlighted the B2B business as LG’s new growth engine, noting that the company will expand its product portfolio to include even more innovative, customer-driven solutions. Following last year’s successful launch of the home solutions business, which combines subscription services with smart home appliances, LG plans to use the same model (seamlessly integrated services and hardware) to grow its B2B solutions business.
“LG Business Cloud is a dedicated platform that simplifies the management of LG digital signage cloud solutions for businesses of all sizes,” said Paik Ki-mun, senior vice president and head of the Information Display business unit of LG Business Solutions Company. “LG is a total solutions provider, offering innovative commercial signage displays and convenient, time-saving management software that enhance the customer experience.”
LG Business Cloud will be on show at ISE 2024 in Hall 3 (Stand 3K 100) of Fira Barcelona’s Gran Via conference center from January 30 to February 2 and is scheduled to launch in the first quarter of this year. The ability to purchase solutions from within LG Business Cloud will be available initially in North America before expanding to other markets around the globe, including South Korea and Europe.
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* Applicable to digital signage products equipped with LG webOS version 6.0 or above.
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By News Reporter
Company Outlines Direction and “Break Through Limits” Management Policy
During Press Conference in Las Vegas
LAS VEGAS, Jan. 10, 2024 — LG Electronics’ (LG) CEO William Cho and key company executives introduced the strategies LG is implementing to achieve its ‘Future Vision 2030’ goal, during a press conference held for Korean media in Las Vegas, Nevada, U.S.A., on January 10.
The CEO began the proceedings by noting that LG had identified three major inflection points – electrification, servitization and digitalization – that will ultimately reshape business and the customer experience. The company aims to overcome challenges, such as persistent market and supply chain uncertainties, and accelerate growth by building a high-performance, results-oriented organization with a winning spirit.
“If 2023 was the year in which we set the direction for new changes, we will make 2024 the year in which we truly accelerate these changes,” said CEO Cho. “Future Vision 2030 is our promise to the market and to our customers, and we will strive as a company to deliver on this promise.”
Announced by the CEO last year, Future Vision 2030 is LG’s long-term goal to transform into ‘Smart Life Solution Company’ that can connect and expand the customer experience across various spaces, including home, commercial, mobility and virtual.
Strengthening Future Competitiveness Through Investment
CEO Cho set ‘Break through Limits’ as the key phrase for, and underlying philosophy of the company’s management policy in 2024. Having already established three focus areas for future growth – a non-hardware business model, B2B expansion and the development of new businesses – LG will now make an all-out effort to further refine its portfolio.
To start with, the company will maximize the potential of its future growth engines by expanding investment based on the strategic priorities of the business. This year, the company will more than double its level of investment; putting USD 8 billion* into R&D and other critical areas to strengthen competitiveness, moving forward.
High-growth and high-profit core businesses will also see larger investment in 2024. These include B2B businesses, such as vehicle components, HVAC, built-in appliances and digital signage, as well as the webOS platform business. LG will continue to invest in new businesses, such as electric vehicle (EV) charging and robotics, and has already announced plans to invest more than USD 40 billion* by 2030 to transform its portfolio for qualitative business growth.
Furthermore, beginning this year, LG will actively seek inorganic growth opportunities, such as mergers, acquisitions and partnerships, in addition to adopting strategies designed to invigorate its internal growth engines. Emphasis will also be placed on game-changing areas of technology that add customer value, such as AI and mixed reality (MR).
The CEO identified the newly established Overseas Sales and Marketing Company as a valuable asset for helping LG “break through limits.” Already playing an important role in LG’s global success, the new organization accounted for approximately two-thirds of the company’s total sales. The Overseas Sales and Marketing Company implements specialized strategies that take into consideration the unique characteristics of each region and market. Its efforts have maximized the performance of the business, worldwide, and have played a significant role in strengthening the capabilities and growth of LG’s international subsidiaries.
Achieving ‘Triple Seven’ Goals for Growth, Profit and Value
With platform-based service businesses, the B2B business and new businesses as its three, main growth engines, the company aims to reach its goal of ‘Triple Seven’: an average growth rate and operating profit of seven percent or more, as well as enterprise value that translates to an EBITDA ratio of seven.
Last year, despite a decline in market demand, the company performed impressively thanks to the growth of its B2B business. Over the past five years, the compound annual growth rate of LG’s B2B businesses has easily exceeded double digits, with the average annual growth rate of overall sales reaching around eight percent.
The Vehicle component Solutions (VS) Company has likewise emerged as a key business for LG, achieving annual sales of USD 8 billion* in its 10th year of existence. The global transition to EVs is expected to increase the demand for high-value EV parts, one of the VS Company’s core areas of expertise.
Based on the three pillars of in-vehicle infotainment (IVI), e-powertrains and vehicular lamps, the VS Company is projected to enjoy continuous, rapid growth. From 2024, it will focus primarily on securing software-defined vehicle capabilities, expanding its EV parts customer-base, and strengthening its leadership in smart lamps. To respond to the increasing number of new orders, the company will invest in boosting production capacity in Central America, South America and Europe.
The HVAC business, another important part of LG’s B2B portfolio, is growing quickly in emerging markets such as Asia and Central and South America, while in advanced markets, including Europe and North America – where demand for high-efficiency, eco-friendly products is strong – it continues to uncover new opportunities.
LG’s HVAC business aims to leverage the competitiveness of its technologically advanced components, such as motors and compressors, to expand its product lineup. After establishing a consortium for advanced heat pump research in Alaska, U.S.A., last November, LG plans to build an R&D base in Europe this year. The company also intends to broaden its business with the introduction of differentiated air conditioning products, such as the Dedicated Outdoor Air System.
Recognizing that B2B companies are impacted less directly by the economy than B2C companies, LG is actively bolstering its B2B business as a means to maintain sales and profit stability. The company has announced plans for the expansion of its B2B businesses, and is seeking to raise sales volume to more than USD 32 billion* (double the current level) by 2030 through launching a variety of new, value-added solutions.
LG will also fast-track the evolution of its overall business model, entering non-hardware areas, such as content, services and subscriptions, to complement its existing product-centric home appliance and TV companies. Leveraging the hundreds of millions of LG products already in use around the world as ‘platforms,’ the company expects to generate continuous sales and profits.
In line with this shift in business direction, the Home Entertainment (HE) Company aims to become a media and entertainment platform company and accelerate the growth of its webOS platform business. The HE Company is rapidly reinforcing the foundations of its platform business by expanding the webOS ecosystem to include smart monitors, IVI systems, and other TV makers. LG expects the webOS platform business to become one of the most potential growth engines in the near future.
The Home Appliance and Air Solution (H&A) Company, whose success is playing a preeminent role in supporting LG’s organization-wide transformation, is also developing a smart home solution business that combines services and subscriptions. The H&A Company’s ultimate goal is to deliver on its ‘Zero Labor Home, Makes Quality Time’ vision, which goes beyond home appliances to make homelife smarter and more convenient than ever.
The subscription business, encompassing ‘daily’ services that augment LG’s home appliance products, has been growing at a fast pace in South Korea. The overseas expansion of the subscription business is underway, with strategic markets in Asia the first outside of Korea to experience its many benefits.
The percentage of LG’s total sales accounted for by its non-hardware businesses – such as the webOS platform-based content and service business, and the home appliance subscription business – has more than doubled over the past five years.
Additionally, LG will aggressively promote the commercialization of intangible assets, such as its standard essential patents in critical areas of technology including communications, media, mobility and IoT connectivity. And, during its recent reorganization, the company established new business entities to commercialize its know-how in the construction of smart factories.
Moreover, LG will secure growth opportunities offering high potential and a high degree of business synergy. As a prime example, the LG NOVA will increase its startup promotion fund to more than USD 100 million by the end of 2024, enabling the company to help discover new technologies and solutions to drive future innovation, and to lead new business segments.
LG’s recently created EV charging business is emerging as a comprehensive EV charging solutions provider, boasting advanced charging units and control solutions, remote diagnosis and servicing capabilities, as well as vehicle battery diagnosis and robust manufacturing and sales infrastructure. Entering the North American market, the company has completed the construction of a charger production line in Fort Worth, Texas, U.S.A.
In the digital healthcare segment, the company is expanding its telemedicine business in cooperation with Amwell, and will also review the viability of offering services in areas such as prevention, diagnosis, post-management and recovery. In virtual reality, another promising business area, LG is preparing for the commercialization of MR devices. At the end of 2023, the company established an eXtended Reality business unit within the HE Company, and is continuing to collaborate on augmented reality solutions with various technology partners.
In addition, the company’s Chief Technology Office (CTO), which leads the development of future technologies, is conducting intensive R&D programs to strengthen business competitiveness and discover new core technologies. In particular, the CTO is focusing on eight areas of technology: software, system on chip, AI, robotics, materials and parts, standards, next-generation computing and cloud/data.
Accelerating DX Through Data-Driven Practices and Next-Gen ERP Investment
Through digital transformation (DX), LG will provide customers with F.U.N. – First, Unique and New – experiences, and further enhance its customer-centric management system.
The company is making large-scale IT investments to establish DX across the entire organization. On top of this, LG is building N-ERP, or Next-generation Enterprise Resource Planning, to seamlessly integrate and link the company’s business processes and systems. Intellytics Customer 360, a customer data platform that enables integrated management of data gathered from diverse customer contact points, will be rolled out globally from this year.
LG’s DX efforts extend beyond the innovation of the customer experience to the improvement of value chain efficiency; from purchasing and manufacturing to delivery and sales. Last year, by applying DX to each value chain, LG raised productivity and efficiency to the value of more than USD 240 million.*
Transforming Into a High-Performing Organization and Spreading ‘Life’s Good’ Values and Philosophy
When speaking with employees, CEO Cho often quotes noted American management scholar, Peter Drucker: “Culture eats strategy for breakfast.” The CEO truly believes that a strong organizational culture is essential to turning strategy into good performance.
During his ‘CEO F.U.N. Talk’ with employees last December, Mr. Cho outlined the company’s vision for 2024, which includes becoming a high-performing organization. He stated that, “To accomplish this, we need to intricately connect our mission, vision and goals, and have a relentless focus on execution.”
United under the brand promise of Life’s Good, a variety of integrated brand activities, spanning marketing, ESG and CSR, will be initiated starting this year. The company will spread the values and philosophy that underpin Life’s Good with the spirit of a brave optimist, while also infusing the brand with a youthful dynamism. A self-professed ‘brave optimist,’ LG is an innovator that daringly faces difficulties, believes in pursuing opportunities for improvement, even during tough times, and finds solutions by listening and paying attention to its customers and the market.
Visitors can experience LG’s latest innovations at its CES booth (#16008, Las Vegas Convention Center) from January 9-12. For more information on LG products unveiled at CES 2024, please view the
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* Exchange rate: KRW 1,250 per USD.
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