LG Honored With GM’s ‘Supplier of the Year’ Award
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By News Reporter
Company to Leverage Lighthouse Factory Expertise
to Develop Future-Oriented Business Models
SEOUL, July 18, 2024 — LG Electronics (LG) is advancing its smart factory solutions business by integrating artificial intelligence (AI) and digital transformation (DX) with its extensive 66-year history of manufacturing and production expertise.
The Ultimate Fusion of AI and Manufacturing Capabilities
Earlier this year, LG officially entered the smart factory solutions market. The Production engineering Research Institute (PRI), which has been enhancing production and manufacturing competitiveness for LG Group affiliates, is now extending its expertise to external clients. Services offered include production consulting, development of equipment and operation systems and training for technology personnel.
Despite being in its inaugural year, the business has already achieved significant milestones. PRI anticipates securing orders worth approximately KRW 200 billion from external clients for its smart factory solutions.
Major clients include secondary battery manufacturers, automotive parts manufacturers and logistics companies. LG plans to aggressively expand into industries with rapidly growing factory demand, such as semiconductors, pharmaceuticals, biotechnology and food and beverage. The goal is to develop the smart factory solutions business into a multi-trillion KRW enterprise by 2030, excluding revenue generated within the LG Group.
According to market research firm
link hidden, please login to view, the global smart factory market is projected to grow from USD 155.61 billion this year to USD 268.46 billion by 2030. 770TB of Manufacturing Data and Over 1,000 Patents
LG has accumulated vast amounts of manufacturing data and know-how through 66 years of factory design, construction and operation. In the past decade alone, the company has amassed 770 terabytes (TB) of manufacturing and production data, equivalent to storing approximately 197,000 high-definition movies (assuming each movie is 4GB). The company’s competitive edge also lies in its various core production technologies essential for smart factory configuration, with PRI filing over 1,000 patents related to smart factory solutions. LG aims to set its smart factory solutions apart by integrating its extensive manufacturing data and expertise with AI and DX, leveraging world-class production technologies. These smart factory solutions encompass production system design, monitoring and operation through Digital Twin technology; big data and generative AI-based management of quality, industrial safety and equipment; and the provision of various industrial robots.
Production Efficiency Directly Linked to Business Profitability
Smart factory solutions focus on minimizing even the briefest delays or minute errors between processes. Since efficiency in production is directly linked to the overall profitability of the business, enhancing it is crucial. For example, at LG’s refrigerator production line in Changwon, a refrigerator is produced every 13 seconds. A 10-minute delay in the production line would result in a production shortfall of 50 refrigerators. Assuming the price of one refrigerator is KRW 2 million, a 10-minute delay translates to a loss of KRW 100 million.
This impact is even more significant for products with faster production speeds.* Therefore, solutions that minimize delays across processes – from the seamless supply of multiple components to assembly, packaging and inspection – are essential.
Comprehensive Production Solutions Covering the Entire Journey
LG approaches the smart factory business not just as unit solutions for specific areas but as comprehensive solutions covering the entire journey for clients, from factory planning to design, construction and operation. Considering the client’s environment and industry characteristics, the company diagnoses existing factories and identifies areas for improvement, establishing a step-by-step roadmap from automation, informationization and intelligence perspectives to maximize investment effectiveness.
Digital Twin Solution for All Value Chain
The production system design and operation solutions leverage real-time simulations using Digital Twin technology. Before the factory is built, a virtual replica identical to the real factory is created, allowing clients to preview the production and logistics flow. This enables optimal efficiency in factory design.
During the operational phase, analyzing real-time data helps detect bottlenecks, defects and malfunctions in the production line in advance, thereby contributing to productivity improvement.
Autonomous Mobile Robots and Collaborative Robots
LG’s various industrial robot solutions for factory automation offer significant advantages. The Autonomous Mobile Robot (AMR) is equipped with cameras, radar and LiDAR sensors to recognize its surroundings and supply parts and materials. It navigates effectively, avoiding workers and obstacles through autonomous driving.
The Mobile Manipulator (MM), which combines a multi-joint robotic arm with an AMR, can automate a range of tasks seamlessly. It is capable of diverse actions such as assembly, defect inspection and transporting parts and materials. Additionally, it can replace the batteries of nearby AMRs when they run low.
Generative AI Solutions for Easy Anomaly Diagnosis
Solutions that assist in managing yield rates and ensuring the smooth operation of equipment are also highly beneficial. Sensors installed throughout the factory detect abnormal signals such as vibrations and noise caused by equipment aging or lack of lubrication. Big data is then used to determine the causes and recommend corrective actions.
Generative AI based on large language models allows for easy use through voice commands. For example, saying “abnormal vibration in equipment A at 2 p.m.” records the abnormal signal on the server. A command like “show recent abnormal vibrations and corrective actions” provides a list of defect types and previous corrective actions in order of likelihood.
Additionally, LG has developed a real-time detection system powered by Vision AI. This system learns the factory’s normal operating conditions and detects anomalies such as temperature fluctuations and defects. It also enhances factory safety management by identifying workers who are not properly wearing safety helmets or work vests.
Expediting the Development of a Future-Oriented Business Model by Harnessing Lighthouse Factory Expertise
LG’s intelligent autonomous factories in Changwon, South Korea, and Tennessee, USA, have been recognized as Lighthouse Factories by the World Economic Forum. Following the implementation of smart factory solutions, productivity at the Changwon plant increased by 17 percent, energy efficiency improved by 30 percent, and quality costs due to defects were reduced by 70 percent. Within the LG Group, production facilities at over 60 locations in 40 regions worldwide are applying solutions from PRI.
Leveraging this internally and externally validated smart factory expertise for business ventures holds significant meaning in terms of commercializing intangible assets. LG is driving a transformation of its business portfolio, which has traditionally focused on production of hardware, by integrating software and solutions into a future-oriented structure. This approach is expected to significantly contribute to the rapid growth of the company’s B2B sector, one of the three key growth drivers in LG’s 2030 Future Vision, especially as it targets numerous external corporate clients.
“We will offer optimal smart factory solutions at every stage – from planning and design to construction and operation – becoming the ideal partner that supports our clients throughout their entire production journey,” said Jeong Dae-hwa, head of LG PRI.
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* Unit for production speed is parts per million (PPM).
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By News Reporter
Recognized in the Partnership Category of Volkswagen’s Annual Awards for Suppliers,
LG Reaffirms Its Status as a Leader in Automotive Electronics
SEOUL, July 8, 2024 — LG Electronics (LG) has been honored at the Volkswagen Group Award 2024, which took place in Wolfsburg, Germany, on July 2. LG was recognized by the Volkswagen Group, one of the world’s premier automakers, in the ‘Partnership’ category for its outstanding development, manufacture and supply chain management of mobility technologies and solutions, including in-vehicle infotainment systems and connectivity products. The award highlights LG’s unwavering commitment to excellence and points to its growing reputation in the automotive sector as a trusted partner and innovation provider.
Established in 2002, the Volkswagen Group Award is held annually to honor the Wolfsburg-headquartered company’s top suppliers. This year’s Award recognized a total of 10 suppliers and featured 10 different categories, including Partnership, Sustainability, Digitalization and Transformation.
LG’s partnership with Volkswagen Group spans several years, during which LG has supplied a range of advanced automotive solutions, such as infotainment systems, automotive displays, digital cockpits, augmented-reality head-up display (AR HUD) technology and cockpit domain controller (CDC) solutions. In 2015, LG participated in Volkswagen Group’s Fast Automotive Supply Tracks (FAST) program, and in 2017, LG received the Technology and Innovation Award from Volkswagen Group for its outstanding infotainment technology.
“The past, present and future success of the Volkswagen Group is only possible with strong partners,” said Dirk Große-Loheide, Member of the Extended Executive Committee and Member of the Volkswagen Brand Board of Management responsible for procurement. “The anniversary of the Volkswagen Group Award highlights the importance we place on close, partnership-based cooperation with our suppliers and underscores the esteem that goes with this.”
“We are deeply honored by this prestigious accolade and look forward to continuing our strong partnership with Volkswagen Group,” said Eun Seok-hyun, president of LG Vehicle component Solutions Company. “LG is committed to driving innovation in the mobility sector and to working closely with its industry partners to deliver differentiated products and exceptional customer experiences.”
Since entering the mobility solutions market, LG has won multiple awards from automakers for its dependability as a supplier and for the quality of its advanced vehicle components and systems. Last year, LG was named the best supplier in the areas of infotainment and telematics at GM’s 31st Annual Supplier of the Year Award. In 2020, LG was acknowledged by the Mercedes-Benz Group for first-class performance and partnership, and by the Renault Group for state-of-the-art vehicle display technologies.
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By News Reporter
LG 2024 OLED evo TVs Demonstrate Company’s Dedication to
Sustainability and Highlight Premium Value of LG OLED TVs
SEOUL, Apr. 16, 2024 — LG Electronics (LG) continues to receive recognition for its steadfast commitment to sustainability and eco-conscious practices. LG 2024 OLED evo TVs achieved Reducing CO21 and Measured CO22 certifications from the Carbon Trust3 and Environmentally Evaluated Mark4 from Société Générale de Surveillance SA (SGS), marking the fourth consecutive year of consistent acknowledgement for LG’s ESG initiatives. LG’s newest OLED TVs have also earned their second successive Recycled Content certification5, further demonstrating LG’s sense of environmental responsibility.
The Carbon Trust works to usher the globe into a future of zero carbon emission by assessing the environmental impact of a product’s entire life cycle, from production and distribution to use and disposal. SGS certification focuses on resource efficiency and the presence of hazardous substances, while Intertek measures the percentage of recycled materials used. The organizations’ respective approaches promote responsible consumption practices across diverse industries and contribute to the broader goal of sustainability worldwide.
Notably, the self-lit nature of LG OLED TVs garners significant attention in stringent sustainability evaluations. Unlike LCD TVs, LG OLED TVs do not require a backlight, meaning a simpler structure and fewer necessary components. For instance, LG’s 65-inch OLED evo, made of ultra-light composite fiber, requires only 40 percent of the plastic typically used in an LCD TV of the same size screen and weighs 20 percent less.
Based on the estimated sales of LG OLED TVs this year, the total amount of plastic used in LG OLED TVs from 2022 to 2024 is expected to be 45,000 tons lower than that of LCD TVs sold during the same period. The reduction in plastic usage will lead to a decrease in carbon emissions of approximately 234,000 tons a year, equivalent to the carbon dioxide absorbed by a 30-year-old pine forest. This number translates to one-third of the area of Seoul or about 31,000 soccer fields.
Recycled plastics account for about 20 percent of the plastic used in the manufacturing of all LG TVs, including OLED TVs, equal to around 4,000 tons of recycled waste plastic annually.
Beyond environmental activities, LG’s various ESG initiatives have received praise from reputable domestic and international organizations. In 2023, LG was named in the Dow Jones Sustainability World Index (DJSI World) for the twelfth year in a row. The DJSI World ranks in the top ten percent of the largest 2,500 global companies based on their long-term economic, environmental, social and governance practices. The company’s inclusion on this prestigious list for twelve consecutive years is a significant milestone, as LG is the sole South Korean company in the Leisure Equipment & Products and Consumer Electronics industry category to achieve this feat.
Furthermore, LG has received the ‘Comprehensive A grade’ from the ESG Evaluation and Rating Announcement of Korea ESG Standards Institute (KCGS) for three years running, and last year, the company earned its fourth back-to-back ‘A’ rating from the Morgan Stanley Capital International (MSCI) ESG Rating.
“LG OLED TVs lead the market as the ultimate choice for premium viewing experiences, while also going beyond to set the bar for ESG standards,” said Baik Seon-pill, leader of the LG Home Entertainment Company’s Product Planning Division. “LG will remain devoted to continuing efforts toward creating a better planet for all.”
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1 77/65/55-inch LG OLED evo G4 models.
2 97/83-inch LG OLED evo G4 models and all LG OLED evo C4 models.
3 Only applies to listed products sold in markets/regions participating in the Carbon Trust’s labeling program.
4 All LG OLED evo G4 and C4 models.
5 All LG OLED evo G4 and C4 models.
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By News Reporter
EPA and DOE Recognize LG Electronics for ‘Sustained Excellence’ in
Energy-Efficient Products, Environmental Sustainability Efforts
SEOUL, March 27, 2024 – LG Electronics (LG) has been named 2024 ENERGY STAR® Partner of the Year-Sustained Excellence by the U.S. Environmental Protection Agency and U.S. Department of Energy. This honor recognizes LG’s exemplary commitment to fighting climate change and protecting the environment through leadership in ENERGY STAR certified products and promotions. This marks the 11th time since 2012 that LG has been named Partner of the Year.
“ENERGY STAR supports LG’s ‘Innovation for a Better Life’ brand mission, which means creating a better life for people and a better future for our planet through smart life solutions,” said Chris Jung, president and CEO, LG Electronics North America. “2023 marked an inflection point for LG’s strategy to help drive the electrification movement across America with ENERGY STAR certified products – from heat-pump-enabled HVAC systems, water heaters and clothes dryers to induction cooktops and EV chargers, as well as energy storage and management systems – all enabling broader decarbonization goals.”
The EPA recognized LG for its robust participation in various ENERGY STAR campaigns and promotions, helping to educate tens of millions of American consumers about greener living with LG and ENERGY STAR, driving a record 8.3 billion consumer impressions. The 2024 Partner of the Year award recognizes a number of key LG ENERGY STAR accomplishments last year.
LG was the first to certify induction cooktops and ranges to the new ENERGY STAR cooking specification finalized in October 2023. LG also was ENERGY STAR Partner to certify dishwashers to the ENERGY STAR Version 7 specification, and all new models earned the “ENERGY STAR Most Efficient 2023” designation.
EPA Administrator Michael S. Regan congratulated LG and other ENERGY STAR award winners for “innovation and leadership in delivering cost-effective energy efficient solutions that create jobs, address climate change, and contribute to a healthier environment for all.” He said, “President Biden’s Investing in America agenda creates unprecedented opportunity to build a clean energy economy, and private sector partners through programs like ENERGY STAR are leading the way.”
Each year, the ENERGY STAR program honors a select group of businesses and organizations that have made outstanding contributions to energy efficiency and the transition to a clean energy economy. ENERGY STAR award winners lead their industries in the production, sale and adoption of energy-efficient products, homes, buildings, services and strategies. These efforts have saved more than 5 trillion kilowatt-hours of electricity over the past 30 years.
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By News Reporter
In the ever-evolving world of home entertainment, LG stands as an undeniable leader for its groundbreaking contributions to the global TV market. Dominating the global OLED TV market for 11 consecutive years, the company’s commitment to innovation and excellence shines brighter than ever, with differentiated consumer experiences that distinguish LG TVs from the rest.
According to market research firm Omdia, LG topped the global OLED market last year with shipments totaling 3 million OLED TV units. Boasting an impressive 53 percent share of the global OLED TV market based on shipment, LG has firmly held its premier spot as the undisputed leader of the OLED TV market with an array of form factors and size options.
In an era of “the bigger, the better,” the desire for extra-large, premium TVs continues to rise and last year was no different. Amidst increasing demand, the share of TVs sized 75 inches and above exceeded 20 percent based on revenue in premium TV markets, including North America and Europe.
The shipments of OLED TVs sized 75 inches and above have seen explosive growth, surpassing 25 percent based on revenue in the entire OLED TV market. With an ultra-large model accounting for one out of every four OLED TVs sold, the trend has approached an annual average increase of nearly 70 percent over the last five years, including last year.
LG reaffirms its market dominance with a monumental share approaching 60 percent in total shipments of OLED TVs over 75 inches. LG is actively broadening its lineup of wireless OLED TVs, introducing 97-inch, 83-inch and 77-inch models with its groundbreaking 4K/120Hz wireless transmission solution, extending the availability of wireless OLED TVs while meeting the growing demand for ultra-large premium options in the North American and European markets.
As the demand for premium ultra-large TVs continues to soar, LG is bolstering its OLED TV lineup with an expanded range of wireless OLED TV models as well as elevated picture and audio quality with advanced AI processors, including the α (Alpha) 11 AI processor. LG’s latest OLED TVs will also offer an even more personalized home entertainment experience with the webOS smart TV platform.
The combined shipments of LG’s OLED and LCD TVs last year totaled over 22.53 million units, marking a 16.3 percent share in the global TV market in 2023 based on revenue. With further options that demonstrate the company’s prowess in the global TV market, LG QNED TVs boast LG’s Quantum Dot and NanoCell color technologies for precise and vibrant colors. Driven by these remarkable QNED models, LG ranked second in the quantum dot LCD TV market last year with a 14.7 percent revenue share, excluding LG NanoCell TVs from this figure.
The latest LG QNED TVs feature Mini LED technology and an Alpha 8 AI Processor which boasts a 1.3-fold increase in AI performance compared to its predecessor, the Alpha 7 Gen 6 processor, for more precise gradations of color. With a diverse lineup, customers can select their preferred model with sizes ranging from 43 inches to the massive 98-inch model.
The global TV market’s shipments exceeded 201 million last year overall, a slight decrease compared to the previous year. LCD TV shipments remained below 200 million units for the second consecutive year, while OLED TV shipments, including LG’s, reached 5.6 million units.
Discover the most recent updates in the home entertainment industry and explore LG’s cutting-edge innovations by visiting the
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