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LG Drives B2B Growth With a Focus on Customer-Centric Business Solutions
LG Aims to Expand Its B2B Offerings and
Build a Growth-Driven Portfolio in Emerging Sectors
SEOUL, Oct. 10, 2024 — LG Electronics (LG) held a press conference today at LG Digital Park in South Korea to share its future vision for the B2B sector with domestic journalists. The company outlined its goal for the LG Business Solutions (BS) Company to achieve KRW 10 trillion in annual revenue by 2030.
At its 2024 Investor Forum in August, LG highlighted the acceleration of its B2B operations as one of the central components of its business portfolio innovation strategy. By 2030, the company expects that its B2B concerns will account for 45 percent of total sales.
LG plans to strengthen its leading B2B businesses, such as hotel and hospital TVs, digital signage and premium laptops, while also focusing on medical monitors and electric vehicle (EV) chargers to build a sustainable, growth-focused portfolio.
Additionally, the company is rapidly strengthening its B2B capabilities across a wide range of areas, including vehicle components, HVAC systems, built-in appliances and smart factory solutions. The expansion into mobility and new business segments is part of the company’s strategy to accelerate its business transformation.
Leading LG’s flagship B2B businesses, the LG BS Company offers customized digital signage for various commercial spaces, including hotels, retail stores, offices, schools and hospitals, as well as IT products ranging from high-spec monitors to LG gram laptops, commercial robots and EV charging solutions.
The B2B sector is less affected by economic fluctuations than B2C, resulting in comparatively stable revenue and profits. Another advantage of B2B is the “lock-in” effect, which typically leads to close, long-term relationships with customers and a virtuous cycle of mutual growth.
“Over the past 66 years, LG has accumulated valuable insights into its customers and the diverse spaces they occupy through its consumer electronics business,” said Jang Ik-hwan, president of LG Business Solutions Company. “Going forward, we will leverage this expertise to offer tailored services and differentiated solutions to our business customers, further cementing our reputation as a trusted partner in the competitive B2B market. The BS Company is seeking to double its current revenue, reaching KRW 10 trillion by 2030.”
Driving the Commercial Display Market with Premium Signage and Hospitality TVs
LG has gained a leading position in the B2B display solution market thanks to its top-tier commercial display technology, premium digital signage and strong performance in the global hotel and hospital TV segments. LG’s information display business has experienced steady growth since 2019, recording an average annual growth rate of seven percent.
LG will continue to expand its display solutions business with products tailored for various spaces. The focus will be on premium fine-pitch LED signage (including All-in-One LED and Micro LED models), a product category that has seen a double-digit rise in revenue each year.
At the forefront of this expansion is the cutting-edge LG MAGNIT Micro LED display. LG MAGNIT is offered in various formats, including an all-in-one model for conference rooms, a model designed for virtual production studios, a premium home cinema edition and a model with a separate power supply unit (PSU). Since 2020, MAGNIT has recorded an impressive growth rate, with its annual revenue growth nearing a twofold increase on average over the past four years.
Additionally, LG is strengthening its portfolio of innovative digital signage solutions with products such as the next-generation LG Micro LED display, which is set to launch later this year. LG has employed the latest AI technology for its upcoming Micro LED, both during the production process and to create intelligent image-quality algorithms that help ensure superior visual performance. As part of the manufacturing process, AI is used to assess and select each of the product’s approximately 25 million LED chips (based on a 136-inch model). Meanwhile, the AI processor applied to the LG Micro LED display analyzes and optimizes color and brightness in real-time to deliver optimal picture quality.
To drive future growth, LG is actively working to identify potential demand and will keep on adding to its diverse lineup of tailored hardware and software solutions for commercial spaces.
Preferred by customers around the world, LG’s hospitality TVs boast many user-friendly features, including the ability to wirelessly mirror personal devices screens via Google Chromecast or Apple AirPlay. Hotel guests simply scan the QR code displayed on the TV to watch content from their device on the TV’s larger screen. To protect users’ privacy, viewing history and connection data are automatically deleted upon check out.
LG continues to maintain its strong leadership in the global hospitality TV market, and is collaborating with renowned international hotel chains including IHG Hotels & Resorts, and Hyatt.
In addition to its hardware offerings, LG provides a variety of cloud solutions through its online B2B platform, LG Business Cloud. These include the LG DOOH Ads digital signage advertising solution, LG SuperSign Cloud and Pro:Centric digital signage and hospitality TV content management solutions, and LG ConnectedCare remote monitoring and management solution.
To accelerate its expansion into new business areas and enhance overall competitiveness, LG is fostering strategic partnerships with global B2B companies. It recently signed a memorandum of understanding with office solutions provider Ricoh to explore the development of comprehensive enterprise services.
Strengthening LG’s Position as a Leading EV Charging Solutions Provider
LG is set to expedite its growth in promising new business areas, with the company’s EV charger business standing out as an emerging “unicorn.” Through strategic partnerships and investment, LG is poised to increase its presence in the global EV charger market.
LG opened its EV charger production factory in the U.S. (Texas) in January of this year and in June reached an agreement with ChargePoint, a leading provider of networked charging solutions for EVs in North America. The two companies are collaborating to expand their businesses by boosting product sales through distribution channels, reinforcing their product portfolios and jointly developing next-generation solutions. Additionally, LG is leveraging its extensive B2B sales network in the U.S., established through its nationwide success in hospitality TVs and digital signage, to actively target the country’s increased demand for EV charging infrastructure. This includes the necessary charging framework for hotels, shopping malls and retail stores, as well as highway charging stations and depots.
LG aims to secure around eight percent of the U.S. fast charger market by 2030 and position itself as a global top-tier provider of EV charging solutions.
At present, LG offers six types of EV chargers, including 7kW and 11kW slow chargers, and 100kW, 175kW, and 200kW fast-charging models.1 In addition, the company is producing a 350kW ultra-fast charger for the North American market and plans to release two slow-charging models – 30kW and 7kW – targeting the European market, all scheduled to launch by the end of this year.
Furthermore, LG is proactively addressing concerns over EV charger safety by implementing various fire-prevention solutions.
The charging control system applied to LG’s EV chargers prevents overcharging, which is one of the leading causes of EV charging safety incidents. The control system automatically stops charging when the vehicle battery reaches 80 percent during fast charging and 100 percent during slow charging. Additionally, LG chargers are equipped with a load management system that allocates electricity based on the installation site’s power capacity, ensuring stable charging even with limited power availability.2
The installation environment and consumer safety are key considerations in the design of every EV charger that LG makes. The company’s 175kW fast-charging model operates reliably in extreme temperatures ranging from -35 to 55 degrees Celsius and boasts an IP55 rating for water and dust resistance, along with an IK10 rating for impact resistance. Additionally, LG EV chargers comply with Restriction of Hazardous Substances (RoHS) regulations for the use of ten harmful chemicals such as lead, cadmium and mercury during the manufacturing process.
Prioritizing Medical Monitors as a Key Growth Engine
LG is focusing on the medical monitor sector as a new growth driver for its IT business, with plans to become a global top-three medical monitor provider within the next five years.
Medical monitors are required to meet the medical device regulations of each country, as well as medical imaging display standards, such as DICOM Part 14. Delivering excellent image accuracy and reliability, these monitors are considered premium products with high entry barriers, and are recognized as high-value-added products. According to market research firm Omdia, the global medical monitor market is expected to reach approximately USD 2.5 billion in value by 2030. In markets such as North America and Europe, hospitals are required to use medical-grade monitors for the reviewing of medical images obtained from X-rays, endoscopies and other procedures. With these strict regulations in place, the market for medical-grade monitors is expected to grow significantly in the future.
Launched in 2016, LG’s medical monitor business has steadily expanded in size, achieving close to double-digit annual growth in North America and Europe. Its product lineup, which is now available in more than 50 countries worldwide, currently comprises 14 types of medical monitors – including clinical, diagnostic and surgical models – and six types of digital X-ray detectors (DXDs).
LG offers healthcare institutions a diverse range of medical monitors, including surgical monitors with Mini-LED technology, specialized diagnostic monitors for mammography and high-resolution displays with screen-split features. By adopting a turnkey solution approach, LG has enhanced its competitiveness in the global medical display market and set a solid foundation for future growth.
In 2023, the company made significant strides in the medical display segment by securing a four-year, EUR 10 million contract with Centrale d’Achat de l’Informatique Hospitalière (CAIH), France’s public hospital IT purchasing center, for the supply of medical monitors. Looking ahead, LG plans to integrate AI technology into the data analysis and solutions derived from its medical monitors and digital X-ray detectors, and is also considering an entry into the medical imaging equipment sector.
LG’s success in the B2B sector owes much to the company’s technology and knowhow accumulated over many years in the B2C market. Recently, LG is in discussions regarding a contract to supply a U.S. financial services company with custom-built, high-resolution monitors for a period of five years. LG has supplied dual monitors to a U.S. financial media company and provided in-flight entertainment (IFE) displays to international airlines.
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1 LG’s 7kW and 11kW slow chargers and 100kW fast charger are available in South Korea, while the 175kW and 200kW fast-charging models are available in North America.
2 LG’s load management solution, which has already been applied to the company’s fast- and slow-charging EV charging solutions in North America, will be introduced in South Korea beginning next month.
LG’s New 32HR734S 4K Surgical Monitor With Mini LED Technology Delivers Outstanding Image Quality
Designed for the Healthcare Sector, Company’s Latest Medical Monitor
Provides Impressive Imaging and Convenient Features
SEOUL, Oct. 9, 2024 — LG Electronics (LG) is launching its new 31.5-inch surgical monitor (model 32HR734S) featuring advanced Mini LED display technology. Designed to provide color video displays of images from surgical endoscopes, laparoscopic camera systems and other compatible medical imaging systems, LG’s monitor has received 510(k) clearance from the U.S. FDA, indicating it can now be sold in the U.S. The 32HR734S’s Mini LED technology enables precise brightness control and provides a wide color range, optimizing image clarity and color, making it an ideal choice for a variety of surgical applications, including laparoscopy and endoscopy.
The 32HR734S features a 31.5-inch, 4K resolution (3,840 x 2,160) Mini-LED display leveraging thousands of tiny LED diodes as the Back Light Unit (BLU). Delivering 2,000 cd/m² peak brightness and a dynamic contrast ratio of 1,000,000:1, LG’s medical monitor leverages 1,536 local dimming zones to produce clear, detailed images and enhanced visual contrast. The display also provides excellent color consistency across the screen and boasts 98 percent coverage of the DCI-P3 color space.
In addition to its impressive visual performance, the 32HR734S delivers the durability and reliability necessary for surgical settings. Employing Optical Bonding technology, along with Anti-Glare, Anti-Reflection and Anti-Fingerprint coatings on its front, LG’s 32HR734S 4K surgical monitor ensures optimal visibility even in brightly lit operating rooms. What’s more, the front and rear of the product (IP45- and IP32-rated, respectively) offer excellent resistance to water and dust, preventing fluids or particles from disrupting monitor operation during surgeries.
The 32HR734S is also the first LG surgical monitor to incorporate the innovative Clone Screen feature. Clone Screen allows users to duplicate the image being displayed on the 32HR734S on a second monitor (connected via HDMI), significantly enhancing operational efficiency and communication within the surgical environment, especially in situations where multiple medical professionals need to view the same image.
For added versatility, the display’s Mirror Mode makes it possible to flip the on-screen image horizontally, while Rotation Mode can rotate the image 180 degrees to match the orientation of the surgical camera. The 32HR734S also provides Picture-in-Picture (PIP) and Picture-by-Picture (PBP) functionality, the latter allowing the display of up to four different image sources simultaneously. This enables medical staff to view a combination of inputs or images, such as laparoscopic and fluoroscopic images, while monitoring the patient’s vital signs at the same time.
“Featuring advanced Mini LED technology, the 32HR734S delivers the excellent picture quality and convenient functionality needed in surgical settings,” said YS Lee, vice president and head of the IT business unit of LG Business Solutions Company. “We believe our new model will significantly boost efficiency for medical professionals performing and assisting with surgeries.”
Key Specifications:
| LG Surgical Monitor
(32HR734S) |
||
| Size | 31.5-inch | |
| Backlight Technology | Mini LED | |
| Screen Resolution | 4K (3,840 x 2,160) | |
| Display | Panel Type | IPS |
| Aspect Ratio | 16:9 | |
| Surface Treatment | Protection Glass (Optical Bonding, Anti-Reflection, Anti-Fingerprint, and Anti-Glare) | |
| Color Gamut (Typ.) | DCI-P3 98% | |
| Brightness (Typ.) | 800cd/m² | |
| Brightness
(Stabilization) |
500cd/m² | |
| Peak Brightness (Typ.) | 2000cd/m² | |
| Color Bit | 10bit | |
| Contrast Ratio (Typ.) | 1,000:1 | |
| Response Time
(Gray-To-Gray)1 |
5ms | |
| Features | DICOM Compliant | Yes |
| Hardware Calibration | LG Calibration Studio | |
| HDR | HDR 10, HDR Effect | |
| Video Signals | Input Terminals | HDMI x 1, DisplayPort x 1, SDI (12G / 3G) x 4, DVI-D x 1 |
| Output Terminals | HDMI (Clone Screen) x 1, SDI (12G / 3G) x 4 | |
| Connectivity | USB | USB 3.0 1 Upstream, 1 Downstream |
| Power | AC Input | 100-240Vac, 50/60Hz |
| Power Consumption | 130W (Max) / Less than 0.3W (DC Off) | |
| Durability | IP Resistance Rating2 | IP453 (Front), IP324 (Except for Front), IK065 |
| User Convenience |
PBP | Yes (2 / 3 / 4 PBP) |
| PIP | Yes | |
| Screen Flip | Mirror Mode, Rotation Mode | |
| Failover Input Switch | Yes | |
| Physical
Specifications |
Weight | 9.7 kg |
| Wall Mount Size | 200 x 100 / 100 x 100 mm |
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1 GtG: Gray-to-gray response time.
2 Tested under controlled laboratory conditions with an IP/ IK rating. Dry before using. Do not charge while wet.
3 IP45: Protected against solid foreign objects of 1.0 mm and greater / Protected against access to hazardous parts with a wire / Protected against water jets.
4 IP32: Protected against solid foreign objects of 2.5 mm and greater / Protected against access to hazardous parts with a tool / Protected against vertically falling water drops when enclosure tilted up to 15°.
5 IK06: Protected against 1-joule impacts.
*Specifications may vary by region and all features, standards, and other product specifications are subject to change without notice or obligation.
LG Releases Preliminary Earnings for Third-Quarter 2024
Company Sets New Record for Third Quarter Revenue
SEOUL, Oct. 8, 2024 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the third quarter of 2024, reporting a consolidated revenue of KRW 22.17 trillion and an operating profit of KRW 751.1 billion.
The company achieved record-high quarterly revenue, marking its fourth consecutive quarter of year-over-year revenue growth since the fourth quarter of 2023. However, operating profit declined compared to the same period last year due to increased logistics and marketing expenses in the second half of 2024. In a conference call held after the second quarter earnings announcement, the company mentioned the average maritime freight rate per container is expected to increase by approximately 58 percent year-over-year in the second half and marketing costs, including advertising expenses, are expected to rise.
For the first three quarters of 2024, cumulative revenue reached KRW 64.96 trillion, accompanied by an operating profit of KRW 3.28 trillion.
Despite challenges such as delayed demand recovery, rising raw material prices and shipping costs, LG has steadily increased its revenue over the past three quarters. The company’s efforts to upgrade its business portfolio—through changes in business models and methods and by strengthening its B2B operations, which are less sensitive to economic fluctuations—have sustained its growth and enhanced its core competitiveness.
Key initiatives, such as the introduction of subscription service business models and the expansion of volume-zone lineups alongside direct-to-consumer (D2C) sales, have driven consistent sales growth in core business areas like home appliances. On the profitability front, LG’s rapidly growing platform-based content and service businesses are increasingly contributing to overall operating profits.
In the home appliance sector, LG’s subscription services business continues to expand. Although third-quarter profitability was impacted by increased shipping costs and slower demand recovery in key markets, the company plans to address these challenges by diversifying its product portfolio, growing its online sales and tailoring offerings to meet regional market needs.
Although LG Magna e-Powertrain has experienced some impact from demand stagnation in electric vehicles, the vehicle components sector is ensuring a steady supply for its orders, which are already around KRW 100 trillion. Meanwhile, LG aims to increase sales of high-value-added products, including advanced driver assistance systems.
In the home entertainment sector, OLED TV demand saw a gradual recovery in key markets such as North America and Europe during the third quarter. However, increased cost for LCD panel prices compared to the same period last year affected overall profitability. LG’s webOS-based content and service business, a key contributor to the business’ operating profit, is expected to continue its rapid expansion. The company plans to strengthen its content offerings, enhance user experience, expand its ecosystem and boost its advertising business to drive future growth.
In the business solutions sector, LG is intensifying its customized offerings for specific verticals, leveraging its diverse product lineups. The company plans to expand its premium IT lineup, including AI PCs and gaming monitors, and secure future technologies such as virtual production solutions to support the ongoing growth of its commercial display business. Investments in promising new ventures, including robotics and electric vehicle chargers, will also continue steadily.
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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LG Makes “Life’s Good” Come Alive With the New York Yankees
Putting words into action is a critical component of LG’s Life’s Good motto. This has manifested itself across a wide range of activations in the U.S., most recently as part of LG Electronics USA’s partnership with the New York Yankees, one of the most recognized and successful sports franchises in the world.
As “The Official TV Partner of the New York Yankees,” the LG OLED brand has been infused throughout iconic Yankee Stadium. Recently, LG expanded its partnership to include a cause-related component that will benefit the community around the stadium. This effort will support renovations at Elston Gene Howard Field, which sits across the street from the current Yankee Stadium on the site of the original Yankee Stadium. LG’s donation of USD 50,000 will assist in upgrades to the three ballfields at the location, which is utilized by the Bronx community and the Yankees’ Summer Night Lights program.
During an on-field ceremony at Yankee Stadium prior to the Yankees-Red Sox game on September 12, LG USA CEO Chris Jung presented a check to NYC Parks Bronx Borough Commissioner Jessenia Aponte and Administrative Parks and Recreation Manager Clinton Johnson.
“We believe in investing in the communities where we live and work. This collaboration with the New York Yankees enables us to improve these fields for the benefit of the youth of New York City,” said LG Electronic USA CEO Chris Jung. “Creating an environment where children can enjoy positive experiences helps ensure ‘Life’s Good’ in their community and provides a tremendous asset to their growth and development.”
“LG has been a tremendous partner, and they are employing that same forward-looking, collaborative spirit toward the Bronx community, which utilizes Elston Gene Howard Field extensively throughout the year,” said Yankees Senior Vice President of Corporate/Community Relations Brian Smith. “This donation will positively impact thousands of Bronx residents who rely on the park for exercise, recreation and team sports, including the children who participate in the Yankees’ Summer Night Lights programming. We salute LG’s contribution and look forward to seeing the benefits of their donation bear fruit for many years to come.”
Having just completed its second season, Summer Night Lights serves approximately 300 children and teenagers from the Bronx between the ages of 12 and 18 who take part in tournament-style, co-ed baseball and softball games on Tuesday and Wednesday nights throughout July and August. The program is designed to keep area young people engaged in recreation and character-promoting activities on summer evenings, when midweek organized activities for young people are difficult to find.
Contributed by LG USA
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Helping Taiwanese Customers Live their Best Life Online with LG Forum
Although stress is a natural feeling that affects everyone, managing it has become increasingly difficult in today’s digital age. Recognizing this, LG Taiwan recently organized a special forum to help local customers address their anxiety and better manage stress, as part of the global “Optimism your feed” campaign and “Life’s Good with Optimism” initiative.
In the build up to this forum, LG Taiwan launched a psychological test on its Instagram page, aimed at raising awareness about social media-induced anxiety. This initiative helped followers gain a better understanding of the stress they experience from their digital lives.
Held on August 10, the forum featured esteemed psychologist Dr. Hui-Wen Deng and renowned YouTube film critic “Lessons from Movies.” They shared their professional insights and experiences on how social media impacts mental health and provided attendees with practical strategies to manage stress and maintain optimism, aligning with LG’s Life’s Good philosophy.
Dr. Deng explored the negative psychological effects of social media, emphasizing the importance of initiatives like LG’s “Optimize your feed” to help people navigate their online lives without feeling overwhelmed by anxiety.
The event also featured the host of popular YouTube channel “Lessons from Movies,” who shared her personal experiences as a key opinion leader, offering valuable techniques to embrace optimism in the face of criticism.
This event was a hit, with over 100 sign-ups within just half a day and nearly 80 percent of attendees participating in the interactive Q&A session that was held on the day. Many sought advice on how to overcome challenges and maintain an optimistic outlook on life, with many hailing the event as a source of useful information. One guest asked if either of the speakers would be collaborating with LG Taiwan on similar events in the future, or if LG Taiwan had more activities promoting “Optimism” in the works, suggesting a strong desire for more events like this.
On site, Instagrammable photo props and check-in gifts were provided to encourage participants to share their experience with friends and followers via social media. And as they left eager to try out the new techniques they had learned, LG handed out stress-relief fortune cookies and stress balls to each person in the hope of leaving a lasting positive impression and giving them constant reminder of its Life’s Good message.
LG Taiwan’s stress forum not only highlighted the importance of optimism in today’s digital world but also reinforced the brand’s dedication to enriching people’s lives. By providing valuable insights and practical advice on managing stress, LG is helping people navigate the complexities of their online lives, while promoting a message that Life’s Good every day, not just on the good days.
Contributed by LG Taiwan
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LG Presents Global Music Festival “Boom Boom Pow Festa” Powered by LG XBOOM
Music Performers From 9 Countries Creatively Reinterprets Legendary Party
Anthem, “Boom Boom Pow” to Captivate Audiences Worldwide
SEOUL, Oct. 2, 2024 — LG Electronics (LG) is launching a new marketing campaign showcasing the powerful audio performance and dynamic style of its LG XBOOM speakers. The campaign is ignited with Boom Boom Pow Festa, a unique music festival dedicated to the iconic Black Eyed Peas’ song “Boom Boom Pow.” Released in 2009, this legendary party anthem topped the U.S. Billboard Hot 100 music chart for 12 consecutive weeks. During this exciting and vibrant event, the all-time favorite party song will be reinterpreted by talented street performers from around the world and performed through LG’s powerful XBOOM party speakers.
Considered something of a modern classic, “Boom Boom Pow” has become a go-to party track globally, its infectious energy and booming bass inspiring revelers of all ages to get to their feet and dance. Street performers in nine different countries* will take to the stage to offer their own unique takes on the song, supported by the exceptional sound of LG XBOOM. In addition to talented street performers, Boom Boom Pow Festa will feature rising stars of the global music scene, such as Brazil’s Delacruz, who is set to perform at the iconic Escadaria Selarón in Rio de Janeiro.
Powered by LG XBOOM party speakers, these exciting performances will be streamed live on the LG Global YouTube channel on October 6 at 01:00 KST as part of a forty-five-minute virtual concert. Videos of the individual performances and behind-the-scenes films showcasing the artists’ creative exploration of LG XBOOM’s dynamic power and energetic audio quality will also be available on the same channel.
LG’s XBOOM engaging campaign is set to expand to TikTok with the fun-filled “Boom Boom Pow” dance challenge. Participants can join popular creators to show off their best moves and are encouraged to bring the same explosive energy that XBOOM-brand speakers are known for.
Different LG XBOOM speakers will be featured throughout the campaign, each model offering a range of unique benefits along with the brand’s signature power and atmosphere-enhancing features. The LG XBOOM XL9T is a robust tower speaker that amps up the fun with dual 8-inch woofers. Its Pixel LED Lighting feature displays colorful patterns, visual EQ effects, characters or customized text and graphics on the speaker’s LED panel, while Multi Color Ring Lighting creates synchronized lightshows with rotating and flashing effects. Customizable Lighting allows for personalized colors, patterns, animations and messages through the XBOOM app.
Backed by MIL-SPEC and IP67 ratings, the LG XBOOM Go XG8T and XG2T combine a rugged, durable and compact design with over 10 hours of playback for the most reliable performance wherever you are.
“We aim to inspire hope for a better life and future with our optimistic Life’s Good philosophy, which closely aligns with the positive energy of music and is the driving force behind our Boom Boom Pow Festa and XBOOM campaign,” said Lee Jeong-seok, head of LG Home Entertainment Company’s audio business. “Through a variety of engaging marketing activities, we will continue to highlight the powerful sound of LG XBOOM and raise the profile of our unique speaker brand in the global market.”
Dive into the dynamic journey of LG XBOOM and discover a world of powerful, energetic audio experiences. Learn more at @LGGlobal.
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* Brazil, Mexico, Peru, UK, Spain, South Africa, Türkiye, India and Philippines.
LG Announces Winners of 2024 webOS Hackathon
Winners Showcase Family-Friendly Gaming Innovations and
Address the Growing Interest in AI Technologies at LG webOS Summit
SEOUL, Oct. 1, 2024 — LG Electronics (LG) announced the winners of its webOS TV platform hackathon, which took place at the LG webOS Summit last week. The event was geared toward AI-based solutions and gaming services, and sought ideas to enhance the gaming category on the Smart TV.
Developers from around the world applied for the opportunity to present their ideas for apps or services to be used on webOS-based LG Smart TVs in millions of homes, with the goal of diversifying and improving the gaming experience on the LG TVs powered by webOS.
Over three hundred entries were submitted from more than 50 countries. Finalists were invited to present their ideas onstage to a panel of LG executives and over 300 market-leading companies. The top three winners received a meaningful opportunity to engage with the LG team to develop their ideas and resources for business implementation on webOS. They will continue to work with the LG team to prepare the family-friendly gaming solutions for LG TVs by June 2025. Cash prizes were awarded to the top three winners of the hackathon, with the Grand Prize of USD 100,000 for first place, USD 80,000 for second place and USD 50,000 for third place.
Grand Prize Winner: The Quest of Sunflower by Couchplay
An epic adventure game based on an AI-generated story, featuring stunning graphics, immersive audio and responsive game play suitable for the whole family.
Second place: Signs of Magic by Lukas Klingsbo
Set in a magical world, this game follows the wizard Elowen as she battles invading creatures known as Astromentals. It integrates LG Magic Remote sensors to create an immersive experience that brings the action to life.
Third place: Thormdeil: Into the Unknown by TV Games
The first single-player RPG developed exclusively for a Smart TV platform, featuring seasonally AI-generated content. Players navigate dark dungeons, face survival challenges and uncover hidden truths.
“The amount of participation and entries we received this year is proof of the growing interest in the AI and gaming categories,” said Chris Jo, senior vice president of platform business at LG Home Entertainment Company. “We’re no longer simply watching television. The developer ecosystem’s role in improving the lives of millions of consumers in their homes is exponential, and LG plans to hold this event annually to foster webOS app developer ecosystem.”
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LG Shares Strategic Vision and Future Initiatives for ‘AI webOS’ Ecosystem Expansion
Company Drives Strategic Growth With AI webOS, an Intelligent Platform
That Delivers Outstanding Customer Value and Unique User Experiences
SEOUL, Sep. 30, 2024 — LG Electronics (LG) last week held webOS Summit 2024 in Incheon, South Korea, sharing its strategic vision and future initiatives for expanding the AI webOS ecosystem and growing its platform business. Themed “Empowering webOS with AI,” the second webOS Summit played host to around 300 attendees representing 140 partner companies – including content developers, producers and providers – from 24 countries. The event also marked a major milestone: the tenth anniversary of the launch of webOS on LG smart TVs.
AI webOS plays a pivotal role in LG’s ambitious business transformation, shifting from a consumer electronics manufacturer to a Smart Life Solution Company. With a strategic investment of over KRW 1 trillion (USD 740 million), LG aims to significantly enhance the capabilities of its webOS platform and related businesses.
To achieve its strategic vision and elevate the value of its unique offerings, LG is continuously broadening the extensive selection of content and services accessible on AI webOS. The platform, which delivers exceptional experiences to LG TV users in over 180 countries, currently provides over 4,000 apps, including those for entertainment, home fitness, education and gaming.
This year, LG is reinforcing the reputation of AI webOS as an advanced gaming platform by adding a variety of new services and experience innovations. At present, the cutting-edge platform offers around 4,500 games across popular cloud gaming services such as GeForce NOW and Amazon Luna. To make gaming on its TVs even more responsive, LG has teamed up with MediaTek and Razer, leveraging new Bluetooth Ultra-Low Latency (BT ULL) technology to reduce input lag to an imperceptible 1ms when using a Bluetooth gaming controller. Demonstrated during webOS Summit 2024, this impressive responsiveness enhances the cloud gaming experience, giving users more precise control and making gameplay more immersive.
LG is also bolstering its competitive edge in content and services by actively seeking out and securing top industry talent. The company recently hosted a global hackathon to discover compelling new games and AI-powered content suitable for AI webOS and is also collaborating on game development with respected institutes of higher education, such as Sungkyunkwan University and New York University.
Furthermore, with the introduction of webOS Pay, LG has made it faster and more convenient for users to purchase content and services on AI webOS. The simple-to-use payment service contributes to the seamless, personalized shopping experience on LG’s intelligent platform.
Over the last decade, LG has sold a remarkable 220 million smart TVs and has consistently strengthened its webOS platform business through licensing agreements with an array of local and global companies. LG first made webOS available to other TV makers in 2021, and since then, the versatile platform has been adopted by over 400 brands. The company is now poised to further expand the webOS ecosystem via an array of webOS-powered automotive infotainment solutions, digital signage, smart monitors, gaming monitors and projectors.
Additionally, the webOS platform is shoring up LG’s strong competitiveness in the advertising business. In 2024, revenue generated by advertising and services on webOS is projected to exceed KRW 1 trillion, which represents a fourfold increase from 2021.
A significant contributor to this excellent performance is LG Channels, a free, ad-supported streaming service that provides over 3,800 channels and is now available in 29 countries. The company has augmented its already stellar offering of top-notch viewing options on its free service with the launch of LG Channels Showcase and LG 1 – new channels boasting a curated selection of premium entertainment. What’s more, LG is adding value to the user experience via the provision of AI-based ad solutions that make content recommendations even more relevant to user preferences.
With its Affectionate Intelligence vision for a more caring, empathetic and attentive AI technology, LG is continuously enriching and enhancing the customer experience. The application of Affectionate Intelligence allows webOS users to enjoy easier control as well as personalized content and service recommendations suited to their individual tastes and lifestyles. Through collaborations with innovative partner companies and the seamless integration of the latest technologies, LG is constantly refining its cutting-edge platform.
Along with informative presentations and demonstrations, webOS Summit 2024 featured an experience zone where attendees were able to see first-hand how powerful AI technologies are driving customer experience innovation on webOS. One of the many intelligent features offered on LG’s platform, AI Concierge employs voice recognition, search history and user data to provide customized app and viewing recommendations. Thanks to its ability to recognize different voices, AI webOS can take each LG smart TV user straight to their own personalized Home Screen without having to manually select their profile.
“Our webOS platform business continues to go from strength to strength based on close collaboration with our valued partners and an unrelenting focus on meeting the diverse needs of our customers,” said Park Hyoung-sei, president of the LG Home Entertainment Company. “Celebrating a decade of webOS innovation, and now enriching customer’s everyday lives with AI webOS, LG is accelerating its transformation into a leading media and entertainment platform company.”
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LG Teams Up With Razer and MediaTek to Present First-Ever Bluetooth Ultra-Low Latency Technology
Companies Set to Introduce Cutting-Edge Bluetooth Ultra-Low Latency Technology
that Revolutionizes Cloud Gaming Experiences for webOS Smart TV Users
SEOUL, Sep. 27, 2024 — LG Electronics (LG) has collaborated with Razer and MediaTek to introduce the world’s first Bluetooth Ultra-Low Latency (BT ULL) Controller at LG webOS Summit 2024 on September 27. This groundbreaking technology was showcased through an LG webOS smart TV and Razer’s Bluetooth gaming controller, demonstrating the game-changing 1ms input lag.
The webOS summit, which welcomed 300 representatives from 140 partner companies – including content developers, producers and providers – from 24 countries, shared LG’s strategic vision and future initiatives for expanding its AI webOS ecosystem and platform business.
Razer, a leading global lifestyle brand for gamers, has developed the first game controller featuring BT ULL technology. To showcase its upgraded performance, LG and Razer compared a BT ULL-enabled Bluetooth game controller to a standard controller during the event. The demonstration highlighted the superior responsiveness, reduced input lag and control precision of the BT ULL technology across various cloud-based games, including FPS, fighting and racing titles.
The latest BT ULL technology offers the perfect cloud gaming performance, catering to competitive players who require lightning-fast response times to excel in their games.
In an industry first, LG plans to introduce a certification program for third-party game controllers in the near future to ensure BT ULL-supported controllers work seamlessly with LG webOS smart TVs. Razer will be the first company to obtain LG’s certification.
Meanwhile, LG and MediaTek, a global fabless semiconductor company, are jointly developing the BT ULL technology to be integrated into MediaTek’s Wi-Fi “MT7921” chipset. This chipset will also feature the efficient and reliable Wi-Fi 6 technology from MediaTek’s Filogic series.
These collaborative efforts aim to enable LG webOS smart TVs owners to immediately dive into online multiplayer cloud games with the enhanced response times, delivering unprecedented levels of realism during gameplay.
The latest premium LG OLED TVs and LG QNED TVs, supporting refresh rates of 120Hz or higher, are scheduled to launch in 2025 with BT ULL technology.
“LG is committed to consistently introducing more advanced features designed to immerse gamers in their favorite titles and to differentiate its gaming experiences,” said Baik Seon-pill, head of the LG Home Entertainment Company’s Product Planning Division. “As the LG webOS platform evolves, so will the features that make it the ultimate gaming platform for every type of gamer.”
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LG Accelerates 5G Private Network Business Expansion
First in the 5G Private Network Industry to Receive Domestic Network
Equipment Certification from Korea Association of Network Industries
SEOUL, Sep. 26, 2024 — LG Electronics (LG) is stepping up its presence in the 5G private network market, a key infrastructure for future industries. The company has recently achieved a significant milestone by becoming the first in 5G private network industry to receive the “Domestic Network Equipment Certification” from the Korea Association of Network Industries for its self-developed 5G private network solution.
The “Domestic Network Equipment Certification” is awarded to products that are developed and manufactured in South Korea, a key credential for supplying to public institutions. This certification marks LG’s official recognition for internalizing core 5G private network technologies.
A 5G private network is a customized network deployed in specific areas like factories and buildings, offering high-speed data transmission and exceptional stability. It serves as a vital foundation for innovations such as digital and AI transformation (DX/AX) and smart factory operations.
LG’s certified 5G private network solution leverages advanced software to handle network functions typically managed by traditional 5G equipment like Radio Access Network (RAN) and 5G Core. This software-based approach allows for faster data processing and improved stability, with the added benefit of enabling upgrades without hardware replacement, significantly lowering operational costs.
Harnessing its strong software capabilities, LG’s solution delivers a customized 5G private network tailored to meet diverse client needs and installation environments. For instance, it can create secure, isolated networks for clients with high-security requirements or integrate external cloud services for companies that require frequent collaboration with external partners.
In addition to network setup, LG’s solution offers a device control platform for seamless management of connected devices. This includes LG’s own products, such as robots and digital signage, as well as clients’ existing equipment like CCTV and smart safety devices, all integrated via the 5G private network.
With the momentum from this domestic certification, LG plans to actively pursue both enterprise-focused and public 5G private network initiatives, targeting sectors like smart factories and more.
Recognizing the immense potential of the 5G private network market, LG has committed significant resources to technology development. The company holds around 30,000 telecommunications patents, including many related to 5G, ranking it among the world’s top innovators. Last year, LG formally added “facilities-based telecommunications business” to its portfolio, positioning itself for full-scale commercialization of its 5G solutions.
LG also brings extensive real-world experience, having tested its 5G private network solution at various reference sites, including its Tennessee factory, a smart factory in Chungbuk, a logistics center in Incheon and a university hospital in Seoul.
The global 5G private network market is expected to grow rapidly, from approximately USD 2 billion in 2023 to around USD 11.8 billion by 2028, with a projected annual growth rate exceeding 40 percent, according to market research firm MarketsandMarkets.
“We will continue to provide customized 5G private network solutions for clients who need fast, stable networks, leveraging our outstanding 5G technology and operational expertise, accumulated in various sectors such as factories, logistics centers and hospitals,” said Lee Jun-sung, vice president and head of LG’s Private Network Business Development Department.
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LG Partners With Rakuten TV to Launch VOD Service in Europe
LG Movies & TV Offers a Vast Catalog of Premium Content, Available With
Convenient Access Through Streamlined In-Platform Payment on LG TVs
SEOUL, Sep. 25, 2024 — LG Electronics (LG) and Rakuten TV, one of Europe’s leading streaming platforms, have announced the launch of LG Movies & TV, a new video-on-demand (VOD) service now available on LG TVs across the UK, Germany, Spain and Italy. The new app-based VOD service enables rental, purchase and viewing of movies – enriching the home entertainment experience with a broad range of content from the latest blockbusters to beloved classics. Easily accessible through an LG TV without the need for a subscription, “LG Movies & TV” caters to a wide variety of tastes, tailored to viewers across European countries.
Thanks to the partnership with Rakuten TV, LG TV users now have access to over 6,000 titles to enjoy in each of the four European market where the service is available. LG’s new VOD service app elevates the viewing experience into your home cinema with an array of content that is sure to engage and entertain viewers. Popular franchise prequel Furiosa: A Mad Max Saga and summer blockbuster The Fall Guy deliver thrilling and fast-paced action, while Dune: Part Two continues the epic Frank Herbert saga to captivate viewers with its compelling narrative and stunning visuals.
Currently available on select 2022 TV models,1 “LG Movies & TV” is set to extend to all company’s 2022, 2023 and 2024 TV models by the end of this year. Users can easily access LG Movies & TV from the Home Screen on the compatible LG TVs.
For a streamlined user experience, “LG Movies & TV” users are the first to benefit from the newly launched webOS Pay,2 an easy-to-use payment service designed for convenience and efficiency. With webOS Pay tied to a user’s LG Account, once this is set up, webOS Pay only requires a single PIN, which simplifies transactions on LG TVs to a click on the LG Magic Remote. “LG Movies & TV” users3 can now enjoy hassle-free access to desired titles, eliminating the need to scan QR codes with smartphones or manually enter URLs.
Notably, webOS Pay aims to be a unified payment system, which will allow in the future access across various services after a one-time setup process, as long as those services have implemented the payment solution. The service connects payment information, to each user’s LG TV account, enabling them to effortlessly check purchase history and the current status of content and subscriptions.
“LG remains dedicated to presenting diverse content and services for an unmatched user experience with our cutting-edge webOS smart TV platform. By strategically investing over KRW 1 trillion (USD 740 million) by 2027, we aim to significantly enhance webOS and broaden its range of offerings,” said Chris Jo, senior vice president of platform business at LG Home Entertainment Company. “LG will continue to collaborate with more than 4,000 global content partners to provide a varied and user-centric home entertainment experience for customers around the world.”
“We are excited to expand our strategic partnership with LG,” said Sidharth Jayant, Chief Product Officer at Rakuten TV. “This collaboration underscores Rakuten TV’s commitment to being at the forefront of premium entertainment, bringing the best of global cinema into the homes of our European viewers.”
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1 LG Movies & TV app is currently available on 2022 LG Full HD, UHD and select QNED TV models.
2 Users must set up webOS Pay to rent or purchase content from the LG Movies & TV app.
3 webOS Pay is currently available solely for TVoD offered by Rakuten TV on the LG Movies & TV app, with plans for future expansion on other services and markets.
LG’s Iconic Design Legacy Shines as CineBeam Q Claims Global Design Awards
Portable projectors are quickly becoming essential home entertainment devices, offering a compelling blend of performance and practicality to content lovers who want to take their screen on the go. While great projectors are compact and portable, the best ones also feature iconic designs that enrich the viewing experience without sacrificing immersion or image quality.
Amidst this growing trend, one product stands out by combining form and function. LG CineBeam Q projector (HU710PB) recently received a Red Dot Design Award and Silver Award from the International Design Excellence Award (IDEA) for its outstanding design. Two of the three most prestigious global accolades, these victories prove the projector’s exceptional design and practical functionality, especially its standout aesthetic appeal in the modern living environment as noted by the Red Dot Design Award jury.
The unique, extremely portable LG CineBeam Q projector’s design is both compact and refined. The CineBeam Q features a sophisticated and sleek metallic look that seamlessly blends into any space as a chic interior design accessory. This advanced projector has a 360-degree rotatable handle that lets users carry it indoors or outdoors, like on a camping trip or in the backyard, with ease, allowing them to enjoy high-resolution 4K content everywhere they go.* This handle also functions as a stand, making it easy to place in various settings.
No stranger to global design awards, LG’s projectors have won various international accolades over the years, many for its flagship LG CineBeam and LG ProBeam models. The LG CineBeam HU80K received the Best of the Best accolade at the Red Dot Design Awards in 2018, the same year it won an iF Design Award and ranked on Good Design Awards’ Best 100, a reputable list that honors artistic brilliance alongside exceptional usability. In the following year, the LG CineBeam HU85L was nominated for a Red Dot Design Award and iF Design Award for its minimalist form factor which harmonizes with all kinds of stylish interiors. Additionally, HF80J and HF85J received the Red Dot Design Award and the iF Design Award in 2017.
This design history extends far beyond the CineBeam models. For example, the LG ProBeam BU50NST business projector claimed a Red Dot Design Award and Good Design Award in 2020 for its practical design that blends naturally into office spaces. The LG ProBeam shows that business projectors used in meeting rooms and commercial venues can be aesthetically pleasing too.
While stylish, compact projectors are gaining popularity, some users are concerned that these designs may compromise functionality. Fortunately for them, LG’s latest projectors offer the best of both worlds, with advanced functions that elevate the user experience complemented by the most sleek and stylish designs. That’s why LG CineBeam Q was named the “Top Choice 2024” by AVS Forum, a world-renowned tech review and discussion community specializing in home theater and AV devices. Their review highlights its crisp images, vibrant color reproduction, high-quality design and robust functionality.
LG CineBeam and ProBeam projector models continue to challenge conventional design through a strategy that champions innovation above all else. Stay tuned to @lg_tech.life for the latest updates on the company’s most advanced projectors to date.
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* The projector requires an external power source through a power cord or external battery, as it does not feature a built-in battery.
LG Hosts Global Heat Pump Consortium in Seoul to Enhance HVAC Technology Collaboration
A Joint Effort Between LG and Top Research Universities, Consortium to Accelerate
the Development of Next-Generation Heat Pump and Establish Industry Standards
SEOUL, Sep. 24, 2024 — LG Electronics (LG) is hosting the first-ever meeting of the Global Heat Pump Consortium in Seoul, South Korea, from September 23-26. A cooperative venture between LG and a growing number of international universities, the consortium is focused on developing new, more efficient heat pump technologies, including solutions designed to handle harsh climatic conditions. The event brings together LG personnel and academics from participating universities to introduce heat pump technologies and discuss industry-academia projects being conducted by each of the consortium’s regional clusters.
The Global Heat Pump Consortium comprises LG-led heat pump R&D consortiums established in Alaska, USA (November 2023) and in Oslo, Norway and Harbin, China (June and August of 2024, respectively). The consortium also includes a South Korean cluster, with LG working collaboratively with respected universities in Seoul and Busan to drive heating, ventilation and air conditioning (HVAC) innovation.
On the first day of the event, LG introduced key heat pump technologies and products from its industry-leading lineup of high-efficiency HVAC solutions. Each regional consortium then provided an update on its specific research tasks and shared its current progress in evaluating high-performance heat pump tech for challenging climates. The inaugural meeting of the global consortium is also offering attendees valuable learning opportunities, with seminars and discussions on topics, including the latest HVAC industry and market trends, and future technologies for region-specific heat pump solutions.
Through cooperating with universities known for their top-tier HVAC research programs, LG is strengthening its own R&D capabilities and accelerating the development of the next generation of heat pumps. The company anticipates that the groundbreaking work being carried out by the consortium will also help strengthen its competitiveness in the global heating and cooling solutions market.
Internationally, the demand for high-efficiency, low-carbon-emission heat pumps is rapidly increasing, in large part due to the worldwide electrification and decarbonization trends. Solidifying its status as a technology leader and responsible corporate citizen, LG is leveraging its cutting-edge heat pump technology to deliver region-specific heating and cooling solutions for the North American, European and Asian HVAC markets.
At an investor forum in August, LG highlighted “B2B acceleration” as one of its four key strategies for business portfolio innovation. The HVAC business, a major component of the company’s diverse B2B portfolio, has become a market leader based on the strength of its advanced, highly-efficient core technologies, such as inverter compressors, heat exchangers and AI engines.
Around the globe, LG is enhancing the capabilities of its HVAC business through creating locally complete systems encompassing R&D, sales, manufacturing and maintenance. In addition, the company currently operates five Air Solution Research Labs – with facilities located in Korea, North America, Europe and India – and has a network of HVAC academies spanning 43 countries and training over 30,000 engineers annually.
“We are committed to accelerating our HVAC business, with heat pump innovation as the cornerstone of our vision,” said James Lee, head of the Air Solution Business Unit at LG Electronics Home Appliance & Air Solution Company. “Through the Global Heat Pump Consortium, we aim to lead the HVAC industry with decarbonization solutions aligned with the global electrification trend.”
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