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By News Reporter
Company Sets New Record for Annual Revenue
SEOUL, Jan. 8, 2025 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the fourth quarter and full-year of 2024, reporting a consolidated revenue of KRW 87.74 trillion and an operating profit of KRW 3.43 trillion. This marks a new record for the highest annual revenue in the company’s history.
Over the past four years, LG’s consolidated revenue has seen a compound annual growth rate of over 10 percent. The company has managed to grow while maintaining solid fundamentals amidst various external uncertainties. Strategic shifts in business models, including subscription services and Direct-to-Consumer (D2C) initiatives, have driven growth beyond the limits of its core businesses. The expansion of Business-to-Business (B2B) operations has also contributed significantly to the revenue increase.
Despite various challenges, profitability remained stable on an annual basis. In the second half of last year, unexpected global shipping cost surges and one-time costs for inventory rationalization impacted profitability. However, the overall annual business performance showed positive qualitative growth driven by business portfolio realignment.
In the fourth quarter of last year, LG recorded consolidated revenue of KRW 22.78 trillion and an operating profit of KRW 146.1 billion. This year, the company aims to accelerate qualitative growth through business portfolio transformation. LG will focus on strengthening fundamental competitiveness in areas such as quality and cost while maximizing efforts to secure a robust profit structure through fixed cost efficiency.
The home appliance business, a core segment for the company, is expected to surpass KRW 30 trillion in revenue for the second consecutive year. The strategy of expanding AI appliances and volume zone lineups, along with diversifying business models to subscription and D2C, has driven solid performance. Growth in the B2B sector, including heating, ventilation and air conditioning (HVAC), built-in appliances and component solutions, continues steadily.
LG plans to expand its subscription business to countries such as Thailand and India, in addition to existing markets like Korea, Malaysia and Taiwan. The HVAC business, which holds the largest share in LG’s home appliance B2B area, will now operate as an independent business unit to become a global top-tier, comprehensive air solutions business.
In the TV business, despite the overall market experiencing delayed demand recovery, demand in premium markets such as Europe is gradually improving. The company’s webOS-based advertising and content business continues to expand its ecosystem across TVs, smart monitors and automotive infotainment systems. Beginning this year, the company will seek to further expand the foundations of its advertising and content business through its OLED and QNED “Dual Track” strategy in premium markets, as well as meeting market-specific demands across the globe with volume zone lineups. Additionally, in accordance with last year’s organizational restructuring, the company plans to enhance synergies between hardware and platform businesses through the integrated operation of its screen-based offerings including TVs and IT and ID products.
The vehicle component business has experienced a temporary slowdown in demand for electric vehicles. Despite this, it has continued to achieve solid results and is on track to surpass KRW 10 trillion in revenue for the second consecutive year. The company will focus on responding to the transition to software-defined vehicles (SDV) and strengthening internal stability through profitability-centered operations.
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
Transitioning Between Transparent to Opaque Screen, LG SIGNATURE OLED T
Introduces New Viewing Possibilities and a New Era in Home Entertainment
SEOUL, Dec. 19, 2024 — LG Electronics (LG) is set for the global launch of the 77-inch LG SIGNATURE OLED T, the world’s first transparent and true wireless 4K OLED TV. This groundbreaking model will be available in the U.S. this December, with additional markets to follow.
Unveiled at CES® 2024, the LG SIGNATURE OLED T represents a monumental leap in both technology and design innovation, reflecting LG’s relentless drive to delivering new and better. Its cutting-edge self-lit screen can transform from transparent to opaque screen; a unique ability that provides the OLED viewing experience while offering greater freedom in living space. Recognized globally, LG’s transparent OLED made TIME’s Best Inventions 2024 list and received a total of five CES 2024 Innovation Awards, including a Best of Innovation honor.
Users can effortlessly switch between transparent and opaque modes at the touch of a button, unlocking unique possibilities for entertainment and space design. When in transparent mode, the OLED T offers a futuristic content experience that must be seen to be believed. The screen not only creates the illusion of content floating in mid-air but also produces a mesmerizing effect by “merging” the on-screen visuals with the surrounding space.
LG OLED T further elevates the user experience with a suite of versatile features that optimally leverage the unique advantages of a transparent OLED screen, enhancing its distinctive value.
One standout feature is T-Objet, an Always-On-Display (AOD) mode that transforms the screen into a transparent digital canvas, ideal for showcasing artwork, videos or photos in outstanding color and clarity. Complementing this is T-Bar, a sleek info-ticker that appears along the bottom edge of the screen, providing sports results, IoT device statuses, weather forecasts or song title information. The rest of the screen remains unused when T-Bar is active, presenting a clean, uncluttered look and a clear view of the space behind LG’s “virtually invisible” display. For added convenience, T-Home offers a user-friendly interface that delivers a well-organized overview of available services, as well as quick access to apps, settings and other features.
Despite its stunning 77-inch screen size, the LG OLED T enhances the feeling of space within a room, providing a sense of openness that conventional TVs simply cannot. Its transparency allows it to be placed centrally without being obtrusive or positioned in front of windows without blocking natural light or views of the outdoors.
The transparent 4K OLED screen, combined with LG’s true wireless video and audio transmission technology, promises not only the aesthetic value but also an enhanced home entertainment experience. Free from tangled cables, the device delivers an immersive, distraction-free viewing environment.
The OLED T advances innovation with LG’s proprietary Zero Connect Box, a visually lossless wireless video and audio transmission solution* without latency ensuring a seamless viewing experience. By supporting 4K at 120Hz variable refresh rate, OLED T has been certified by NVIDIA G-SYNC® Compatible and AMD FreeSync Premium to eliminate tearing and stuttering for the most dynamic, true-to-life gaming experience.
The LG SIGNATURE OLED T carries forward LG’s legacy of providing superior picture quality and immersive viewing experiences – hallmarks of LG OLED TVs since the very first model hit the market in 2013. Building on over a decade of OLED innovation, LG’s one-of-a-kind TV brings images fully to life with vibrant, precisely reproduced colors and incredible contrast. Powered by LG’s advanced α (Alpha) 11 AI processor, the OLED T intelligently optimizes both picture and sound quality, delivering unparalleled visual and auditory experiences.
“LG SIGNATURE OLED T is an exceptional user-focused innovation that offers a distinctive, multi-faceted viewing experience and unprecedented spatial flexibility,” said Park Hyoung-sei, president of the LG Media Entertainment Solution Company. “LG remains at the forefront of innovation by combining its industry-leading OLED technology with unique form factors, transparent screens, wireless connectivity and more, delivering unparalleled, life-enriching advancements no other TV maker can replicate.”
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* Wireless transmission refers to the transferring of video and audio signals between a TV screen and the Zero Connect Box. Visually lossless, based on internal test results with ISO/IEC 29170-2 and measurement results may vary depending on connection status.
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By Gene680
It turns my channel off at random times exactly 11 minutes after the hour. I checked and double checked the settings looking for timers, etc. any fixes that I’m missing? It’s when I’m streaming on Sling.
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By pingber
All of a sudden, the row of inputs showed up at the bottom of the home screen on my C1. I’ve tried every setting but can’t seem to get rid of them. I used to just call them up as needed (input button on remote) but now they’re there permanently. Any ideas?
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By News Reporter
LG’s Better Life for All vision encompasses every aspect of life, emphasizing sustainable living and raising educational standards for children in rural areas. In line with this commitment, LG offices around the world actively participate in local initiatives aimed at improving the lives of the people and communities they engage with daily.
To commemorate World Cleanup Day (September 20) and International Coastal Cleanup Day (September 21), LG Singapore organized its first-ever beach cleanup event at East Coast Park in conjunction with local green social enterprise
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As part of the brand’s sustainability efforts, this initiative sought to highlight the importance of taking action against Singapore’s growing marine plastic pollution problem while promoting the 3Rs – Reduce, Reuse and Recycle – when dealing with used packaging.
By combining the company’s eco-conscious innovations with a community-driven effort, LG Singapore hopes this initiative will help foster a culture of environmental consciousness within consumers.
With the much-appreciated help of Green Nudge, over 100 LG Singapore employees collected 293 kilograms of trash – mainly plastic packaging, bottles and Styrofoam – from three sites across Singapore’s eastern coastline, which was then carefully processed for proper disposal.
To foster camaraderie among employees, LG Singapore organized eager volunteers into teams and promised an award to the group that collected the most trash. The winning team, which collected a total of 104 kilograms of trash in just one hour, received a small token of appreciation from Gerald Chun, managing director of LG Singapore.
The success of the beach cleanup highlights LG’s dedication to environmental stewardship and community involvement, with the revitalized beach serving as a powerful reminder of the impact collective action can have. LG Singapore looks forward to promoting sustainability in more exciting ways and inspiring others to join its mission to preserve nature.
Moving on to another vibrant part of Asia, in the spirit of Life’s Good, LG Taiwan hosted an event in September to inject positive change into the local community. Since 2009, LG Taiwan has been deeply committed to improving the standards of education in the nation’s rural areas, working alongside third-party organizations and public welfare institutions to inspire warmth and hope. This long-standing dedication was recently demonstrated through a collaboration with the Feng Chia University School of Architecture.
This involved LG Taiwan assisting Feng Chia University’s Book Hut Project to create an impactful after-school learning space for children living in the countryside. First, LG donated smart home appliances to meet their daily needs, with the local children taking an immediate liking to the LG TV’s advanced voice control features and its sheer size. LG also donated two washing machines that make everyday laundry easy and convenient, requiring only the press of the power and start buttons to operate.
Under the leadership of Jeong Yeon-kwan, managing director of LG Taiwan, a team of 23 LG employees joined student volunteers from Feng Chia University in Hualien to transform a building into an inspirational learning environment with a new lick of paint and various decorations.
In addition to getting hands-on in Hualien, LG Taiwan donated home appliances to the rural Nantou and Taitung regions to spread the power of education. Managing director Jeong showed teachers and children how each appliance works to ensure they received the full benefits. And to add a personal touch to their visit, LG volunteers prepared Korean snack packs for the children and student volunteers.
To support the transformation of its local community, LG East Africa collaborated with Korea Food for the Hungry International (KFHI) to complete two local projects. These initiatives – in Kajiado County and Nairobi’s Huruma slums – were the winning entries of the 2024 LG Ambassador Challenge. Each received KES 1 million in funding to make an impact on local communities.
As a part of the first initiative in Kajiado County, LG East Africa took part in transforming Intinyika Primary School. The school, which has 180 students, was equipped with essential infrastructure, including a solar power system, water storage facilities and computers. These upgrades address critical needs, such as electricity, water and educational resources, significantly improving the learning environment for local students. LG is hopeful that the new equipment will benefit and improve the lives of local students, with the new computers enabling them to learn more about digital technologies in a more comfortable learning environment.
In Nairobi’s Huruma slums, LG East Africa provided aid to the Furaha Community Foundation to improve their physiotherapy center, which treats more than 30 children with disabilities. With the funds from the LG Ambassador Challenge, the center acquired essential equipment, including gym tools, to provide effective care and treatment.
Now in its fourth year, the LG Ambassador Challenge is part of LG East Africa’s social responsibility initiatives. The program aims to recognize and support groups that actively address pressing challenges within their communities. The 2024 edition saw 53 applications, with the winning projects standing out for their potential to create lasting change. To ensure the sustainability of these projects, KFHI will continue to provide customized monitoring and support. This includes regular visits, communication and oversight to maximize the impact and facilitate meaningful change within the communities.
LG will continue to arrange various activities around the globe to spread its Life’s Good brand promise. To learn more about LG’s local initiatives around the world, visit .
Contributed by LG Singapore, LG Taiwan and LG Kenya
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