LG Becomes World’s First Auto Component Supplier to Meet Global Standard for Functional Safety and Cybersecurity
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By News Reporter
In the second episode of the ‘Customers at Heart’ series, we arrive in Egypt to see how the LG team here are introducing customized solutions that seek to improve the entire customer experience.
In Egypt, a country where 72 percent of its 111 million population are internet users according to
link hidden, please login to view, the popularity of online shopping is significant. Recognizing this, LG Egypt has taken an extra step to understand and analyze the needs of local customers, aiming to elevate their online shopping experience. Customer needs in Egypt, related to LG’s Online Brand Shop (OBS), both in the digital and physical space, were identified and categorized into three main areas: simplified access to information on store locations or LG appliances; an expanded range of payment options for OBS purchases; and increased flexibility in scheduling for delivery, installation and repairs.
The subsidiary took into account local customer data, even analyzing numerous customer call records and Voice of the Customer (VoC) data to better comprehend their preferences. For example, they observed that over 70 percent of Egyptians use WhatsApp, the messaging service. However, as the country is in the nascent stages of digital finance, many consumers still prefer cash payments. Thus, LG Egypt aimed to provide a wider range of payment options and unique benefits to attract people to the OBS.
Incorporating various data, the company enhanced its messaging features and created an All-in-One chatbot service through WhatsApp. With this service, customers can now choose their nearest store and, by clicking ‘Connect to Promoter’ and selecting text or video chat, they can connect with a knowledgeable sales representative.
LG Egypt also broadened its payment system by offering a method to pay for online purchases in cash upon delivery or in installments. They also improved purchasing benefits, such as member discounts and cleaning service coupons valid for a year from the purchase date.
The company also streamlined the delivery and installation process, allowing both to occur on the customer’s chosen date. This eliminates the need for customers to contact the call center separately for installation, saving them valuable time.
And to ensure customers receive the maximum benefit from their products, LG enhanced its after-sales service by scheduling service technician visits at times convenient for the customers and ensuring issues are resolved in a single visit – eliminating the need for lengthy waits for repairs. To cater to all customer needs, the Egyptian branch introduced ‘same day contact,’ a service that ensures technicians call customers on the same date of order request receipt; ‘Evening Care+’ for customers unavailable during regular office hours; and ‘On time – One Time’, which provides repair reception and processing during evening hours (17:30 – 20:30). The company also streamlined returns through its ‘Instant Exchange Process,’ handing customers the ability to effortlessly request returns or replacements by taking photos.
These innovative changes to the customer experience have been praised by customers nationwide. Its chatbot and location-based features have played a big part in boosting customer satisfaction, and the numbers back this up. Last year, OBS sales increased 169 percent compared to the previous year while registered OBS members went up 79 percent. After witnessing these results, LG Egypt committed itself to further diversifying its customer care program and increasing the All-in-One chatbot’s applicability to provide the ultimate differentiated experience to LG Brand Shop visitors. The company also plans to expand their dedicated service infrastructure to around 90 percent, ensuring that customers associate LG services with ‘On Time – One Time.’
Stay tuned for the next episode of ‘Customers at Heart,’ where we’ll be heading to another global LG office to learn how they’re thinking out of the box to enhance the customer experience.
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By News Reporter
LG Smart TVs Offer Latin American Users Free Anime Onegai FAST Channels for the
First Time With Spanish Subtitles and Dubbing
MEXICO CITY, May. 15, 2024 — LG Electronics (LG) is offering LG TV owners in Latin America free channels from popular Japanese anime platform Anime Onegai through the company’s exclusive, free streaming service, LG Channels. Anime Onegai is a streaming platform focused on anime founded by Japanese company REMOW, delivering Japanese anime straight from Japan. Available for the first time ever, Anime Onegai’s free ad-supported streaming television (FAST) channels are set to delight anime enthusiasts across Mexico, Argentina, Chile, Peru and Colombia with high-quality Spanish subtitles and dubbing. Whether long-time anime fans or exploring the genre for the first time, Anime Onegai on LG Channels promises to deliver a captivating viewing experience on large LG Smart TV screens.
Anime Onegai on LG Channels provides an extensive selection of anime content to the Latin American audience for free, a region boasting a significant anime fanbase with multiple countries among the top consumers of anime worldwide. Exclusively tailored to Spanish speakers, users can discover anime from a diverse range of genres, from thrilling sports, futuristic science fiction and action-packed adventures to rhythmic music and emotional dramas that tug at the heartstrings.
The Anime Onegai Sport channel invites LG smart TV users to enter the captivating universe of “Kuroko’s Basketball,” a must-see anime that fuses traditional sports with fantasy elements for original adrenaline-filled excitement. For those looking for fast-paced storytelling, the Anime Onegai Action channel provides high-octane content like “REBORN!” a gripping series filled with dynamic characters and masterfully crafted fight scenes.
Anime Onegai also offers content that inspires viewers with healing moments for relaxation and reflection. “Natsume Yujin-cho,” a slice-of-life anime featured on the Anime Onegai Drama channel, takes viewers on an emotional journey filled with heartfelt moments. The Anime Onegai Music channel understands the power music holds in transporting viewers to a new world or intensifying a dramatic scene. Here, music fans can immerse themselves in dramas such as “Full Moon,” which promises viewers an immersive experience with enchanting melodies.
In addition to a diverse selection of sports, action, drama and music channels, the Anime Onegai Sci-Fi channel on LG Channels presents compelling narratives with futuristic adventures and unique worldbuilding. LG Smart TV users can dive into the popular sci-fi anime “Broken Blade” and experience a world filled with epic battles, advanced technology and political intrigue.
Available on LG Smart TVs launched in 2016 and later, LG Channels can be effortlessly accessed directly from the home screen. LG Channels remains the preferred choice for LG Smart TV users worldwide, maintaining its position among the top five most used apps. With the addition of Anime Onegai, users can delve into an even broader selection of content for differentiated entertainment experiences.
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By News Reporter
‘Optimism your feed’ Playlist Curated by Global Influencers Will Enable Users
to Engage With Optimistic and Inspiring Content on Their Social Media Feeds
SEOUL, May 29, 2024 — LG Electronics (LG) today launched a global campaign called ‘Optimism your feed,’ which aims to help users bring more optimism to their social media experience by inviting them to proactively engage with positive and inspiring content on their feeds.
“As a customer-focused brand, LG is a passionate champion of optimism. We aim to create positive changes in people’s lives by being intentional with our positive activities both online and in the real world,” said Kim Hyo-eun, vice president and head of LG’s Brand Management Division. “In the AI era, LG remains committed to our unwavering promise of ‘Life’s Good.’ We will continue to enhance our customers’ lives with a human-centric approach, fostering hope for a better future.”
A new global survey commissioned by LG found that social media is both a source of anxiety and a place where people turn to be entertained, keep up with friends and family, and stay informed about news and current events. According to the survey, almost half of respondents (45 percent) report their social media feeds consist of an equal or greater amount of negative content than positive content. One in four respondents (28 percent) claimed negative content on their social media feeds has increased their anxiety and one in five (20 percent) said it has made them unhappy.
link hidden, please login to view also suggest that algorithms often promote negative and niche conversations. The global survey sought to understand the triggers that affect how algorithms work and how to increase your feed’s positive content. The result is the ‘Optimism your feed’ playlist of original content that, when interacted with, will pull more optimistic content into your feed.* ‘Optimism your feed’ is part of LG’s global , introduced last year to inspire and encourage people to approach life with an optimistic attitude.
Created in collaboration with global influencers renowned for their optimistic influences including , , and more, the ‘Optimism your feed’ playlist includes over 20 short-form videos ranging from motivation to feel-good content.
Additionally, LG is consulting with social media experts including Professor , an information scientist and technology ethicist, with a PhD in Human Centered Computing. Fiesler researches and teaches in the areas of technology ethics, internet policy and online communities, and has published on topics such as social media content moderation and recommender systems. She also educates the public on these topics as a content creator.
Social media has become an integral part of our lives, and algorithms play a significant role in the content that we see in these spaces. LG’s global playlist and campaign gives users the opportunity to see more positive and uplifting posts. By being more conscious about what we choose to engage with, we can bring stronger optimism, balance and happiness to our lives.
According to Fiesler, “Recommendation algorithms determine what we see on social media by predicting what content we are likely to engage with. These algorithms can therefore send us down ever more specific niches – for good and for bad. Research has shown that left unchecked, users can go down negative rabbit holes and encounter harmful content quite quickly. One of our first lines of defense needs to be improving our digital literacy, and paying more attention to how algorithms influence our online experiences. And the good news is that we do have some control over the input for these algorithmic predictions; if we choose to engage with optimistic content, there’s a good possibility we will see more of it.”
Victoria Browne, a global influencer and TEDx Talk speaker, said, “The algorithms on our social channel can have a big impact on the content we see online, which impacts our mental health. That’s why I’m passionate about ‘Optimism your feed’, and I hope that people use this playlist as a foundation to retrain their algorithm and encourage positivity in all aspects of their lives. So much of the stigma and difficulty of tackling mental health is that it is unseen. With this campaign, we are saying you should reach out to your friends, and that we can help each other. Our algorithm should recommend content that makes us feel more connected to people, not less.”
The ‘Optimism your feed’ playlist can be found on LG’s global TikTok channel and global YouTube channel , and will later spread to various social media platforms through collaborations with influencers around the world. More details can be found on the campaign page on .
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* According to a global survey conducted by Dynata on behalf of LG in 2024.
Survey Methodology
Timings: Fieldwork conducted from April 26 to May 2, 2024
Countries: USA, Mexico, Brazil, Germany, France, UAE, Saudi Arabia, Vietnam, South Korea, India, Australia
Age: People between 22 and 65 years old and weekly TikTok or Instagram users
Sample Size: 400 respondents in the USA, 200 respondents in the rest of the markets
Method: Quantitative questionnaire online survey through Dynata’s proprietary panel
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By News Reporter
Premium Gaming Brand and Leading Esports Organization Host Special
Meet and Greet with LCK Champions and Influencer-led Life’s Good Tournament
SEOUL, April 29, 2024 — LG Electronics (LG) and Gen.G Esports (Gen.G) are excited to announce a ‘meet and greet’ with Gen.G team members, taking place at
link hidden, please login to view brand experience space in Ho Chi Minh City, Vietnam, on May 25. This event, a tribute to the tremendous support from Vietnamese fans for the League of Legends Champions Korea (LCK), will also include a tournament for amateur players of the popular multiplayer online battle arena game, along with other fun-filled activities. 120 lucky fans, chosen randomly through an online draw, will have the chance to meet, chat and join in a photo session with five big-name players from the LG-backed Gen.G team. Rounding out what is sure to be a memorable day is a stamp tour of Another Saigon, with special stamps for attendees to collect as they explore and experience LG’s latest lifestyle products.
Another entertaining component of the fan event is the Life’s Good Tournament for amateur League of Legends enthusiasts. The competition will feature teams led by two popular Vietnamese influencers, Mai Dora and Optimus, with commentary on all the action supplied by well-known local casters. Another Saigon, a popular spot among young Vietnamese consumers since its opening earlier this year, will host the semi-final matches and the ‘event match,’ where the tournament champions will play alongside Gen.G team members.
Prior to the gaming session with their idols, the Life’s Good Tournament champs will receive an exclusive one-day training session from a professional coach from the Gen.G Global Academy’s League of Legends program. The professional and amateur players will then form mixed teams and battle it out together in the event match, which will be livestreamed worldwide on the channel.
The upcoming fan event is a direct result of the ongoing LG UltraGear (LG’s premium gaming brand) and Gen.G partnership. The special occasion serves as a thank you to Vietnam’s legion of LCK fans and as a celebration of Gen.G’s 4th straight LCK victory. Since 2021, LG has been the Official Display Partner of Gen.G, supporting the organization and its highly-ranked e-athletes with industry-leading LG UltraGear gaming monitors. The Gen.G team has achieved remarkable success with LG by its side, securing victories at LCK Summer 2022, LCK Spring/Summer 2023 and LCK Spring 2024.
“We look forward to engaging with Vietnam’s dedicated LCK fans and talented amateur players at this unique esports event,” said YS Lee, vice president and head of the IT business unit of LG Business Solutions Company. “LG UltraGear remains committed to fostering esports culture through its enduring partnership with Gen.G, and will continue to craft innovative products that deliver exceptional gaming experiences.”
“With the support of our fans and close partnership with LG UltraGear, we are pleased to have achieved good results in the 2024 LCK Spring Season and become the first LCK team to achieve a 4-peat,” said Lee Ji-hoon, General Manager of Gen. G Esports. “This is a great opportunity for us to thank our fans for their support. We will continue to work closely with LG UltraGear and repay our fans for their support with good results.”
Fans interested in participating in the fan event day and/or Life’s Good Tournament can find detailed information on LG UltraGear’s official accounts () and on . Registration for the event opened April 25.
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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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