[Customers at Heart] LG’s Commitment to World-Class Customer Service
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By News Reporter
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.
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By News Reporter
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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By News Reporter
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.
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By News Reporter
Companies to Offer Comprehensive Package of Digital Office Solutions and Services
Designed to Boost Productivity and Deliver Better User Experiences
SEOUL, Sep. 19, 2024 — LG Electronics (LG) has signed a memorandum of understanding (MOU) with
link hidden, please login to view, a global leader in workplace solutions, to collaborate on digital transformation solutions for modern office environments. The two companies will jointly drive sales and marketing activities for their collaborative efforts and will look to explore further business opportunities in the future. This strategic partnership is expected to strengthen LG’s position in the global B2B market. Ricoh, headquartered in Tokyo, Japan, and with locations in approximately 200 countries worldwide, supports the hybrid workforces of its customers across the globe through a broad range of solutions, from managed workplace services to document management and intelligence process automation, in addition to printers and copiers. As part of the new agreement, Ricoh will pair select offerings with LG’s premium digital signage products and various other B2B solutions. The combination of products and services from two of the industry’s most respected names will deliver an elevated user experience and exceptional customer value.
According to a conducted by Market Research Future, a leading market research company based in India, the global digital workplace solutions market is expected to grow from about USD 33.7 billion in 2023 to USD 90.5 billion by 2030, with a compound annual growth rate (CAGR) of 15 percent. LG, which has identified the B2B sector as a key driver of business growth, aims to expand its presence within the sector and to increase its B2B sales to around 45 percent of total sales (from all business divisions) by 2030. The company is continuously expanding its B2B portfolio and is highly proactive in exploring new, high-potential business areas.
“This global strategic partnership allows us to combine LG’s advanced displays with Ricoh’s communication services, delivering enhanced workplace experience solutions to customers,” said Takahiro Irisa, senior corporate officer and president of the Ricoh Digital Services Business Unit at Ricoh Company, Ltd.
“The pairing of Ricoh’s workplace solutions with LG’s advanced display products will deliver impressive value to customers and further establish LG as one of the most trusted providers of integrated solutions in the B2B market,” said Paik Ki-mun, senior vice president and head of the Information Display business unit of LG Business Solutions Company. “LG will continue to pursue strategic partnerships with innovative global companies to create customized solutions for today’s business environment.”
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By News Reporter
Huntington, W.Va., Aug. 26, 2024 – Marshall Health Network, Inc., a leading West Virginia-based academic health system, announces a new digital health collaboration with Primefocus Health. Together, they plan to offer a customized healthcare service solution to address key regional healthcare issues such as rural healthcare access, obesity, healthy aging and substance abuse.
Primefocus Health, which launched earlier this year in collaboration with LG NOVA, the LG Electronics North America Innovation Center, aims to enable providers to deliver a personalized, complete care experience and improve access to quality healthcare, which is particularly important in rural communities. The Primefocus Health platform will help Marshall Health Network meet the needs of 1.4 million residents across 40 counties in West Virginia, southern Ohio and eastern Kentucky.
This new provider-focused, patient-centric healthcare solution will use innovative, non-invasive technology and remote monitoring capabilities to understand patient progress for multiple medical conditions and deliver healthcare therapies directly to patients in their homes. The solution will help healthcare providers effectively manage outcomes and provide assistance, guidance, communication and intervention via the internet, through an app-based patient portal to deliver quality care to patients.
Primefocus Health will start the collaboration with Marshall Health Network in September, with development throughout the next year and a planned patient rollout in 2025.
The collaboration between Marshall Health Network and Primefocus is focused on delivering solutions that improve patients’ health through a remote healthcare solution that addresses:
Rural Health: Enhance healthcare delivery in rural areas by enabling greater access to healthcare. Obesity: Help reduce obesity rates by using technology to promote nutrition, education, physical activity programs and behavioral health support. Healthy Aging: Promote healthy aging by utilizing technology solutions that offer greater access to preventive care, chronic disease management and wellness initiatives tailored to the needs of older adults. Substance Use Disorder: Expand access to evidence-based treatments and support services for individuals struggling with substance use disorder, with a focus on opioid addiction and recovery resources. “We value this new collaboration that empowers patients to have greater access and participate in their daily health care. These convenient services and tools allow patients to receive the right care, at the right time, in the right setting to achieve better outcomes and quality of life,” said Marshall Health Network CEO Kevin W. Yingling, R.Ph., M.D. “Our work with Primefocus Health supports access to comprehensive healthcare services leading to better patient outcomes.”
“We’re on the path to transform healthcare by giving people greater access to personalized care, empowering them to take an active role in improving their health,” said Darren Sabo, CEO of Primefocus Health. “Working with Marshall Health Network enables us to be front and center in tackling key healthcare issues of West Virginia and rural Appalachia, as we build out solutions to best fit and serve people’s needs and get them access to care that will help them live healthier and better lives.”
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