LG Recognized as Industry’s First for Compliance With Open Source Software Security Management
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By News Reporter
Company Achieves Record-breaking
First-Quarter Revenues by Surpassing Boundaries Once Again
SEOUL, Apr. 5, 2024 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the first quarter of 2024, reporting a consolidated revenue of KRW 21.09 trillion and operating profit of KRW 1.33 trillion.
The company marks the highest first-quarter revenue in its history. The implementation of innovative business models such as subscriptions, along with the expansion of B2B operations, have proven to be crucial in overcoming challenges like the delayed recovery of market demand. From a product perspective, LG’s strategy to enhance the product range and price coverage of volume zone lineups, in response to market demand polarization, has demonstrated significant effectiveness. This strategy, combined with the company’s dedication to sustaining strong competitiveness in the premium market by emphasizing unique factors like AI, has played a substantial role in achieving the impressive figure.
The first-quarter operating profit has surpassed KRW 1 trillion for the fifth consecutive year since 2020. The company’s content and service business, which leverages its hundreds of millions of devices distributed globally as a platform, along with D2C sales, are driving qualitative growth and enhancing the contribution to the company’s operating profit. Measures such as resource allocation, stabilization of raw material and logistics costs and ensuring the flexibility of the global production operation system have also played a part in maintaining stable profitability.
In the home appliance & air solution business, new products like the LG Styler clothing care system, LG WashCombo All-in-One and LG WashTower have led growth, receiving positive market feedback. The strategy of expanding the volume zone lineup to cater to regional characteristics and shifts in demand in international markets has been successful. The company is also growing its B2B business, including HVAC, built-in appliances and component solutions.
LG aims to expedite the paradigm shift in home appliances by introducing subscription services that allow customers to choose appliances and product management services that suit their lifestyles. Also, as AI expands its role in customer electronics, the company is incorporating its Affectionate Intelligence into its devices and services, aiming to provide a unique customer experience that goes beyond basic AI, offering more thoughtfulness and empathy towards customers.
In the vehicle component solutions business, a secured backlog of orders is driving gradual sales growth. The order backlog is expected to exceed KRW 100 trillion in the first half of this year, increasing from the mid-90 trillion range at the end of last year. For In-vehicle Infotainment, a major contributor to sales, the emphasis this year is on bolstering software capabilities and broadening the spectrum of unique products. LG Magna e-Powertrain, having achieved profitability last year, is poised to accelerate growth by securing additional orders from the European and Asian markets. Concurrently, ZKW, a subsidiary specializing in vehicle headlamps, is strategizing to develop next-generation product capabilities while optimizing its business structure.
The home entertainment business is continuing to experience meaningful growth with the launch of new 2024 OLED TV lineup with enhanced AI performance as well as the expansion of webOS content and services. Starting this year, the company will actively deploy dual-track strategy driven by both the top-tier OLED lineup and the QNED lineup to lead the premium market. Furthermore, the webOS platform business will be developed into a scalable, high-profit business this year.
The business solutions sector continues to innovate customer experience through strategic products such as the new LG gram that comes with the latest on-device AI functions and gaming monitors. This year, the company will position itself with a competitive lineup of the commercial displays and continue to invest in future growth engines such as robots and electric vehicle charging, accelerating the early deployment of promising new businesses.
These figures are tentative consolidated earnings based on K-IFRS provided as a service to investors prior to LG Electronics’ final earnings results, including net profit. Details regarding each division will be announced officially later this month.
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By News Reporter
Company Awarded 28 Awards for Excellence in Product Design,
Including Two “Best of the Best” Honors
SEOUL, Apr. 4, 2024 — LG Electronics (LG) announces it has received a total of 28 awards at this year’s Red Dot Award. Among the multiple accolades are two Best of the Best accolades for LG CLOi ServeBot and Signature Kitchen Suite Transitional Series wall ovens.
Recognized with a Best of the Best honor, LG CLOi ServeBot incorporates innovative technology in a sleek design with stability in mind. For increased convenience and versatility, the autonomous serving robot features a three-tier shelves that can be adjusted or detached to suit the situation and can even hold up to 40 kilograms, making it easy to move heavy loads.
Offering enhanced driving performance with six wheels and independent suspension, the CLOi ServeBot can even move stably on unsteady floors. Equipped with a 3D camera and a light detection and ranging (LiDAR) sensor, CLOi ServeBot can recognize environments and communicate with other CLOi ServeBot to coordinate movements without access points, enabling the stable operation of more than ten robots in the same space simultaneously. Featuring outstanding technology, CLOi ServeBot was awarded the Innovation Award at CES 2024.
Also awarded the Best of the Best, the Signature Kitchen Suite Transitional Series wall ovens were recognized for its modern and minimal design with an elegant, velvety matte finish that elevates the kitchen environment. Delivering a chic, minimalist appearance, Transitional Series ovens are equipped with slimmer handles than those found on Professional Series models.
Equipped with Gourmet AI technology and a built-in high-definition camera, the ovens can identify ingredients and automatically suggest optimal recipes on the display. Through the LG ThinQ app, users can monitor what they’re cooking in real time and even capture time-lapse videos and photos.
LG StanbyME Go, a portable 27-inch screen built into a case, was recognized as both an Innovative Product and Winner at this year’s Red Dot Awards. Complete with an integrated Dolby Atmos sound system, HDMI connectivity and webOS, StanbyME Go is the complete anywhere-you-want entertainment experience. LG StanbyME Go is the ideal mobile entertainment screen with its 40W speakers and articulating arm can position the screen in three different ways. Protected by its military-grade case, users can enjoy their content in and outside the home, take it tailgating, camping and anywhere their travels take them.
Other innovations recognized for outstanding design include LG’s latest TV, laptop, monitor, speaker, air conditioners, washing machines and dryers, Styler, all-in-one system ironing, dehumidifier and HydroTower, a combination of air purifier and humidifier.
The Red Dot Award is one of the most respected competitions for product design, communication design and design concepts in the world.
“LG will continue to provide a warm and innovative customer experience with a design tailored to users’ lifestyles along with the company’s unique smart life solutions,” said Hwang Sung-gul, head of LG Electronics’ Corporate Design Center.
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By Renver
Hi,
When i power on my OLED55C8PLA TV it always starts at the source 'SET UP BOX' even there is no set up box connected. We only use HDMI2. That is also always the used source when we power down the TV. Its quite anoying the TV doesnt starts the input last used.
I hope someone can help me with this issue!
Thanks!
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By News Reporter
LG Continues Long-Standing History of Honors at World’s Preeminent Consumer
Technology Show With More Than 200 Awards & Accolades
SEOUL, Jan. 25, 2024 — At this year’s CES®, LG Electronics (LG) was honored with more than 200 awards and recognitions for a wide range of innovations and technologies across the home appliance, home entertainment and B2B categories.
The LG SIGNATURE OLED T – the world’s first 4K wireless transparent TV – led the way with countless honors as the Best TV or Best in Show from a wide range of press outlets.
With LG’s reputation as the global leader in OLED technology – the company continues to assert its dominance at CES, taking home the industry’s top awards and honors for its latest OLED TV lineup including the aforementioned LG SIGNATURE OLED T and the LG OLED evo M4, G4 and C4 TVs. Utilizing the wireless technology introduced in last year’s M3 TV, LG’s 77-inch LG SIGNATURE OLED T is considered the next step in the evolution of OLED TV technology and was honored by major tech publications including CNET, Digital Trends, TechRadar, Tom’s Guide, Forbes, The Verge, Wirecutter, PCMag and Mashable.
The LG OLED evo series featuring a new 144Hz refresh rate and LG’s Alpha 11 AI processor was also applauded by CNET, TechRadar Pro, PCGamer and BGR. Additionally, Digital Trends highlighted the LG UltraGear OLED gaming monitor 32GS95UE in its lineup of best monitors seen at CES 2024 noting its one-of-a-kind ability to toggle between 4K at 240Hz and FHD at 480Hz with the press of a button.
LG also garnered accolades from top publications such as USA Today and Tom’s Guide for its new LG WashCombo All-in-One with HeatPump Technology. Marking LG’s commitment to a greener world – the new Wash Combo uses 60 percent less energy than a vented model.* The cutting-edge home appliance was widely recognized for its compact ventless design and ability to complete a wash-and-dry cycle in under two hours.
Named as a winner of Reviewed’s Accessibility Awards for CES 2024 – LG’s Universal UP Kit – a collection of innovative home appliance accessories and add-ons embracing universal design has been crafted to enhance usability for individuals facing physical challenges. It was also recognized in Apartment Therapy’s Best Home Design Products from CES 2024.
From the Consumer Technology Association’s (CTA) CES Innovation Award program alone, LG won 34 CES Innovation Awards including two Best of Innovation Awards given to the LG 4K Transparent OLED T and the 83-inch 4K OLED Zero Connect TV (M4).
Highlights from LG’s over 200 awards and recognitions earned at CES 2024 include:
LG SIGNATURE OLED T (77-inch)
CNET: Best TVs of CES 2024 Digital Trends: Top Tech of CES 2024 Awards PCMag: The Biggest (and Coolest) TVs at CES 2024 Engadget: Best of CES 2024 Reviewed: The Reviewed Awards: CES 2024 – Home Theater TechRadar: Best Gadgets of CES 2024 – Best TV The New York Times: Wirecutter: Best of CES 2024 Tom’s Guide: Best of CES 2024 Awards – Best Design The Verge: The Verge Awards at CES 2024 – Best in Show CNN Underscored: Best of CES 2024 – Best TV NBC News: Best of CES 2024 Fox News: Top 10 Tech of CES 2024 The Hollywood Reporter: Best of CES 2024 – Best OLED TV Variety: Best of CES 2024 – Best 4k TV Popular Science: Best New Gadgets and Tech from CES 2024 Rolling Stone: Best of CES 2024 LG OLED TVs (M4, G4, C4 and B4)
Tom’s Guide: Best TVs of CES 2024 – LG OLED evo G4 Reviewed: The Reviewed Awards: CES 2024 – LG OLED evo G4 TechRadar Pro: 2024 Pick Awards – LG OLED evo M4 Tech Advisor: Best of CES 2024 – LG OLED B4 Gear Patrol: Coolest TVs and Monitors Revealed at CES 2024 – LG OLED evo G4, C4, and OLED B4 LG QNED TVs
Tom’s Guide: Best TVs of CES 2024 – LG 98 inch QNED TV Residential tech today: CES 2024 Reflections and Superlatives – LG 98 inch QNED TV LG gram Pro Laptops
Digital Trends: Best and Most Exciting Laptops at CES 2024 – LG gram Pro Inverse: Best Laptops Announced at CES 2024 – LG gram Pro 2-in-1 Laptop Mag: Best of CES 2024 – Best 2-in-1: LG gram Pro 2-in-1 Live Science: CES 2024: Best Laptops for Coding & Programmers – LG gram Pro 2-in-1 LG CineBeam Qube Projector
PCMag: Best of CES 2024 – Best Projector WIRED: Best of CES 2024 – Best Home Theater Gizmodo: Best, Coolest, and Weirdest Gadgets at CES 2024 Yanko Design: Best of CES 2024 LG UltraGear OLED Gaming Monitor
Digital Trends: Best Monitors of CES 2024 Inverse: Most Eye-Popping Gaming Monitors from CES 2024 The Shortcut: The Shortcut CES 2024 Awards Windows Central: Best of CES 2024 – Best Gaming LG WashCombo All-in-One with HeatPump Technology
Reviewed: The Reviewed Awards: CES 2024 Tom’s Guide: Best Smart Home Gadgets of CES 2024 – Best Smart Appliance Tom’s Guide: Best of CES 2024 – Best Home Appliance Good Housekeeping: Coolest Gadgets at CES 2024 LG Smart Home AI Agent
Reviewed: CES 2024 – Top 9 New Gadgets You Need To See Mashable: The Best of CES 2024 The Washington Post: The Best (and Strangest) Tech We Found at CES 2024 T3: Best of CES 2024 Awards – T3’s Top Tech from This Year’s Show For more information on LG’s CES 2024 awards and honors and additional information about LG’s products announced at CES, please visit
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* 60% more energy efficient drying – efficiency rating as compared to the requirements for ENERGY STAR® qualification for standard electric dryers. Based on EnergyStar.gov (November 2023).
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By News Reporter
Texas Production Factory to Solidify Company’s Position
as a Trusted EV Charging Solutions Provider
SEOUL, Jan. 15, 2024 — LG Electronics (LG) has expanded its electric vehicle (EV) charging solutions infrastructure, opening its first EV charger production factory in the U.S. The new, 5,500-square-meter facility, located in Fort Worth, Texas, will focus on delivering chargers for the North American market and is expected to have an annual capacity of more than 10,000 units.
The factory is LG’s first EV charger production site outside of South Korea, where the company last year opened an EV charger manufacturing operation under its affiliated company HiEV Charger.
LG chose to establish its U.S.-based EV charger production factory in Texas for multiple, strategic reasons, such as the ability to utilize existing facilities. The state also boasts excellent logistics and transportation networks and is home to major operations for companies in industries ranging from automobile manufacturing to finance.
In 2023, when announcing the company’s future vision, LG CEO William Cho noted that ‘Electrification’ would be a major driver of rapid mid- to long-term growth. LG’s entry into the U.S. EV charging market will enable the company to address rising local demand and discover new business opportunities. Strategically and philosophically aligned with several of the energy and environmental goals set out in the U.S. government’s Inflation Reduction Act, the sustainability-focused company is committed to bolstering its EV charger business, and has commenced plans to grow its presence around the world, including in Asia and Europe.
LG has started assembling 11kW chargers at its Texas factory and will begin production of 175kW fast chargers within the first half of the year. LG also aims to introduce a 350kW ultra-fast charger in 2024, expanding its EV charger lineup to meet the varied needs of customers, especially those operating in areas such as commercial travel and long-distance transportation.
The company is quickly earning a reputation as a reliable EV charger provider thanks to its manufacturing capabilities, quality control and after-sales service. Through emphasizing its differentiated offerings, including control and advertising solutions, LG is confident that the EV charging solutions business will continue to improve its market position over the mid- to long-term.
Furthermore, LG intends to tap into the diverse EV charging demands of various businesses and facilities, such as hotels, shopping malls, retail stores, gas stations and parking garages, to drive future growth. LG’s B2B experience in the U.S. hotel TV and digital signage sectors provides valuable insight that is expected to aid in the U.S. expansion of the company’s EV charging solutions business.
The global EV charging market is expected to grow to USD 186 billion by 2030, according to Roland Berger, a global management consulting firm. The market expansion is being driven by several factors, including the ongoing implementation of regulations aimed at protecting the environment and the continuous progress of vehicle electrification.
“By establishing our EV charger production factory in Texas, we will be able to actively respond to the rapidly growing demand for EV infrastructure in the U.S.,” said Jang Ik-hwan, president of the LG Business Solutions Company. “LG is dedicated to delivering uncompromising quality and will offer customers reliable EV charging solutions that combine efficient charger units with advanced control systems.”
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