LG’s 2024 Soundbars Deliver Complete at-Home Entertainment With Rich Audio
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By News Reporter
Company Achieves Highest Annual Revenue as Home Appliances and Vehicle
Components Continue Growth for Ninth Consecutive Year
SEOUL, Jan. 23, 2025 — LG Electronics Inc. (LG) announced its financial results for the year 2024, disclosing a consolidated revenue of KRW 87.73 trillion and an operating profit of KRW 3.42 trillion. This marks a new record for the highest annual revenue in the company’s history.
In terms of revenue, both the home appliances and the vehicle components business continued their growth for the ninth consecutive year, contributing to the company’s highest revenue achievement. The LG Home Entertainment Company and Business Solutions Company also saw an increase in revenue compared to the previous year.
Operating profit experienced a slight decline compared to the previous year, primarily due to external factors such as a delayed recovery in global demand for home appliances and increased logistics costs in the second half of the year. Despite these challenges, the company maintained a stable profit structure on an annual basis. This stability was achieved through qualitative growth resulting from business portfolio restructuring and the operating leverage effect from increased sales.
2024 Business Performance
The LG Home Appliance & Air Solution Company reported a revenue of KRW 33.2 trillion in 2024. After surpassing KRW 30 trillion in annual revenue for the first time two years ago, the Company has continued to demonstrate sustainable performance, achieving double-digit revenue growth last year. Operating profit reached KRW 2.04 trillion, overcoming the challenges posed by increased logistics costs. This marks the first time since 2021 that the Company has exceeded KRW 2 trillion in operating profit.
The Company’s qualitative growth was driven by changes in its business models, which include home appliance subscriptions and Direct-to-Consumer sales. Revenue from home appliance subscriptions surged by over 75 percent compared to the previous year, nearing KRW 2 trillion. In addition, the B2B segment, which includes heating, ventilation and air conditioning (HVAC) systems, continued to expand.
The LG Home Entertainment Company reported a revenue of KRW 15.23 trillion and an operating profit of KRW 315.9 billion in 2024. Sales of OLED TVs saw growth in regions such as Europe and Asia, driven by global sports events. Additionally, the webOS-based advertising and content business surpassed KRW 1 trillion in annual revenue.
The LG Vehicle component Solutions Company reported a revenue of KRW 10.62 trillion in 2024, marking the second consecutive year it has surpassed KRW 10 trillion in revenue. Despite experiencing a temporary slowdown in demand for electric vehicles, the Company demonstrated stable revenue growth for the ninth consecutive year, supported by a high order backlog. However, operating profit decreased to KRW 115.7 billion compared to the previous year, primarily due to increased development costs for new order projects and R&D investments aimed at transitioning to software-defined vehicles (SDV).
The LG Business Solutions Company reported a revenue of KRW 5.69 trillion in 2024, with an operating loss of KRW 193.1 billion. The increase in revenue was driven by a focus on customized commercial displays for sectors such as hotels, stores, businesses and schools, as well as premium IT products like the LG gram. However, the Company continued to face operating losses due to rising raw material prices for key products and intensified market competition.
2025 Business Directions
LG will consistently pursue qualitative growth through business portfolio innovation, despite the rapidly changing global market and competitive environment. Following the regrouping of the company’s business operation units at the end of last year, LG aims to enhance synergies between its businesses and improve operational efficiency. Additionally, LG will focus on strengthening the fundamental competitiveness of its businesses in terms of quality and cost, while securing a sound profit structure.
The LG Home Appliance Solution Company plans to launch new products with regional specialization and AI applications, aiming to expand sales by increasing sales of its volume zone lineups. The Company will also advance its AI home solution business to achieve its goal of “Zero Labor Home, Makes Quality Time.” Additionally, the subscriptions business will actively expand beyond Korea, Malaysia and Taiwan to include Thailand, India and other regions, continuously creating new opportunities.
The LG Media Entertainment Solution Company aims to expand sales of premium products such as OLED and QNED, while providing differentiated customer experiences through AI features. The Company will integrate operations of LG’s screen-based businesses – including TVs, IT devices and information displays – to enhance synergies between hardware and platform businesses. Additionally, webOS will be developed into an integrated content and services platform for both indoor and outdoor use through continuous content investment and partnership expansion.
The LG Vehicle Solution Company aims to focus on going beyond a supplier of vehicle components to becoming a provider of innovative solutions for the entire vehicular experience. The Company will focus on securing SDV capabilities in preparation for the future. It will also strive to maintain stable revenue based on its order backlogs while improving profitability through product mix enhancement and overall operational improvements.
The newly established LG Eco Solution Company aims to rapidly grow LG’s HVAC business into a global top-tier player by leveraging its core technological competitiveness in key components such as motors and compressors. The Company will focus on building locally self-sustainable production systems and developing region-specific solutions. It will provide comprehensive solutions optimized for various spaces, including industrial, commercial, public and residential facilities, ranging from large chillers to commercial and residential air conditioners.
Earnings Conference and Conference Call
LG Electronics will hold a Korean / English conference call on January 23, 2025, at 16:00 Korea Standard Time (07:00 GMT/UTC). Conference call participants are instructed to pre-register online to receive a private PIN. To participate in the conference call, dial +82 31 810 3130, enter passcode 6418# and then the PIN. The corresponding presentation file will be available for download at the LG Electronics website before the call.
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By News Reporter
Audio is no longer just something you listen to – it’s something you feel, interact with and experience in transformative ways. To push these boundaries further, LG and multi-platinum musician and tech entrepreneur will.i.am have joined forces to introduce LG xboom by will.i.am, a new audio product lineup enhanced with AI technologies, well-balanced sound, versatile designs and exceptional lighting and interaction features.
At CES 2025, LG and will.i.am shared a deeper insight into their joint vision for the LG xboom by will.i.am, revealing the very first products to feature in this highly-anticipated series. With will.i.am as its “Experiential Architect,” LG aims to establish xboom as a culture-driven brand redefining listening experiences in the most diverse and inventive ways.
LG and will.i.am’s close collaboration saw him actively define the sound performance, visual design and branding of the rejuvenated LG xboom brand. His influence stems not only from his musical prowess but also from his aesthetic sensibilities and storytelling ability that resonate with global audiences. The collaboration aims to enhance every aspect of the customer journey – from the first touch to the joy of experiencing music and content – inspiring a lasting love for the xboom brand.
During the LG World Premiere press conference at CES 2025, will.i.am took the stage to outline the endless potential of the LG xboom by will.i.am collaboration, showcasing how the latest audio products bring cutting-edge tech and creative visions together. “Our goal with the new xboom series was never about duplicating what already existed,” he said. “It’s about reimagining what a speaker is supposed to be… it’s about finding your inspiration.”
Every audio solution in the LG xboom by will.i.am lineup has been professionally tuned by the multiple Grammy Award-winning artist to establish xboom’s signature sound – an expertly balanced audio profile with warmer tones. The playfully compact designs embody will.i.am’s creative artistry, drawn from his life-long experience in pop culture. Leveraging his understanding of what people love as well as his expertise in developing technologies for creatives, will.i.am played a pivotal role in developing the LG xboom brand.
The LG xboom by will.i.am series introduces the Bounce, Grab and Stage 301, all powered by AI to elevate the listening experience. These advanced speakers analyze music in real time, dynamically adjusting sound to highlight key elements like melody, rhythm and vocals. AI Lighting creates a vibrant atmosphere by syncing speaker lights to the beat of the music, while AI Calibration lets the speakers adapt to their surroundings instantaneously for rich sounds in various spaces. For the first time, LG’s xboom speakers feature a dedicated button for seamless connection to RAiDiO.FYI, a radio platform created by will.i.am offering personalized content curated by an AI Radio Host.
The Bounce’s up-bouncing passive radiators pulse with the beat, adding a dynamic visual element to the audio experience. Its adjustable strap ensures versatility, allowing it to be effortlessly held, hung or placed on any surface, harmonizing with any environment or occasion.
Engineered to be the ultimate portable speaker, the Grab combines powerful sound with a compact, travel-friendly design. Its slim, one-handed design makes it ideal for on-the-go use, while dual passive radiators on each side deliver rich bass and lively sound, filling spaces effortlessly despite its small size.
The xboom Stage 301 transforms any space into a stage with its 6.5-inch woofer and dual 2.5-inch midrange drivers. Perfect for large rooms or parties, this speaker features a built-in handle for easy carrying and a clever wedge design for flexible placement – whether flat on its base, tilted back or mounted on a tripod.
The lineup also includes LG’s latest earbuds, the xboom Buds. These advanced earbuds not only produce well-balanced sound and rich bass, but also feature an effective Active Noise Cancelling (ANC) and lightweight grapheme drivers. Designed for both comfort and stability, these new LG earbuds feature ergonomic ear tips that adapt to different ear shapes, while a unique ear hook design provides a secure fit for active lifestyles.
CES 2025 served as the debut stage for the 2025 LG xboom by will.i.am lineup. Starting with the LG press conference on January 6, LG xboom and will.i.am maintained a strong presence throughout the event. From hosting special events like the RAiDiOboom party at LIV Nightclub in Las Vegas to engaging attendees at the xboom booth, every moment celebrated this dynamic partnership.
LG and will.i.am are committed to continuing their dynamic collaboration with the xboom by will.i.am range, striving to elevate every aspect of the listening experience. Stay tuned to
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By Regis Wheeler
Apparently, the LG model OLED55CSPUA has an issue with the external device power on/off control. I can configure the IR Bose soundbar well enough, as setup sequence tests it good to control soundbar power. but after exiting the setup, when i press the external device power button on the remote, the TV just wants to cycle through the setup again. It doesn't toggle soundbar power, just cycles back to the setup. i have tried factory settings reset and verified that there are no other devices on the TV.
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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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