LG Drives B2B Growth With a Focus on Customer-Centric Business Solutions
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By News Reporter
Company Strengthens Long-term Strategy With Agile
Adaptability in Rapidly Changing Business Environments
LAS VEGAS, Jan. 8, 2025 — LG Electronics’ (LG) CEO William Cho and key company executives outlined the company’s 2025 business strategy during a press conference held today for Korean media in Las Vegas, Nevada, U.S.A. The CEO emphasized the need to build structural competitiveness and accelerate qualitative growth by refining execution strategies adapted to rapidly changing global market environments.
Cho highlighted positive progress achieved through innovative business models, such as subscription service business and webOS-based advertising and content business, which demonstrate LG’s agile responsiveness to evolving market demands. “Amidst unprecedented market uncertainties and a shifting competitive landscape, we require a fundamentally different level of strategies and precise execution,” he stressed.
Compared to two years ago when LG first presented its Future Vision 2030, the global market recovery is experiencing prolonged delays, while geopolitical risks, such as shifts in trade policies in major nations, are becoming more pronounced. The competitive paradigm with Chinese companies is also shifting from price-based competition to a more sophisticated focus on technology.
As a part of the Future Vision 2030, LG aims to expand its existing device-centric business into mobility and commercial spaces. By leveraging decades of customer understanding, know-how and technological expertise, the company seeks to transform into a smart life solutions provider that connects and enhances customer experiences.
“Despite the challenging environment, significant opportunities remain,” Cho added. “By focusing on delivering differentiated customer value, we will create continuous growth.”
Shifting Business Paradigms to Meet Market Demands
LG is increasing its market presence through new business models like subscription based-services and the online brand shop. Capitalizing on the company’s strengths, the subscription business combines devices and services to provide greater convenience and flexibility, moving beyond price-driven competition. Customers can use products for a duration that best suits their needs and receive optimized care services, allowing LG to maintain closer customer relationships and generate recurring revenue.
LG is also strengthening its competitive edge by enhancing on-site care services and diversifying sales channels. This year, the company is expanding the service to India, Singapore and Hong Kong, following successful launches in Malaysia, Thailand and Taiwan.
In 2024, LG’s revenue from subscription services rose more than 75 percent year-over-year (YoY), surpassing the company’s original target (KRW 1.8 trillion) to reach a total nearing KRW 2 trillion. LG aims to more than triple this figure by 2030, establishing its subscription services as a key driver of growth.
The company’s data-driven online brand shop is also growing at a rapid pace, with sales surging over 80 percent YoY during last November’s Black Friday period.
Expanding Platform-based Services Business Through webOS
The platform-based service business, which is contributing to the transformation of the company’s business structure into a high-profit model, aims to increase its revenue by more than five times by 2030 – ultimately accounting for 20 percent of LG’s total operating profit. This business model leverages hundreds of millions of LG products sold worldwide as a platform to generate revenue by providing customers with content, tailored advertising and services.
A prime example of LG’s current success in this area is the advertising and content business based on the company’s webOS smart TV operating system. Last year, the webOS-based advertising and content business exceeded its revenue target of KRW 1 trillion.
Starting this year, webOS will become a comprehensive content platform for various devices and solutions, including IT products and vehicle infotainment systems. It will also broaden its scope to encompass AI-powered Digital Out of Home (DOOH) solutions to advertisers, evolving into an “integrated media advertising platform” that delivers differentiated content experiences across diverse indoor and outdoor spaces.
To this end, LG initiated the integration of its display-based businesses – including TVs, signage, monitors and laptops – through an organizational realignment at the end of last year. The company is also exploring various opportunities to secure additional capabilities through mergers and acquisitions (M&A) and partnerships.
Accelerating Growth in B2B exemplified with HVAC
To accelerate growth in the B2B sector, the company is focusing on its heating, ventilation, and air conditioning (HVAC) business, which is projected to expand rapidly in the AI era. LG has established a dedicated business division, the LG Eco Solution (ES) Company, to take its existing HVAC business to new heights. The HVAC business, alongside LG’s automotive component and smart factory business, will play a significant role in driving the company’s B2B business to greater success.
LG HVAC boasts a comprehensive portfolio of high-efficiency, high-performance solutions employing the company’s industry-leading core technologies. Its state-of-the-art products range from residential air conditioners to commercial air conditioners for buildings, schools and public institutions; heating solutions designed to replace fossil fuel boilers; and advanced chiller technology, which are now being applied to optimize energy efficiency in data centers – a pivotal backbone of AI infrastructure. Additionally, in key markets, LG is hastening the establishment of a localized, end-to-end business structure that encompasses R&D, production, sales and maintenance, and has the ability to develop region-specific solutions.
By 2030, LG expects its B2B business to account for around 45 percent of all revenue generated by the company. B2B revenue made up approximately 27 percent of total revenue in 2021 – a figure that rose to 35 percent by the end of last year.
Taking on Bold R&D Initiatives to Tackle Future Megatrends
The company is also revamping its future technology R&D portfolio to align with key strategic directions: maximizing business potential, expanding platform-based service businesses, accelerating B2B businesses and rapidly commercializing new growth engines. Over 75 percent of LG’s advanced R&D efforts will focus on technologies for businesses aligned with the company’s mid- to long-term strategies, and on securing pivotal technologies in promising future fields.
LG will continue to concentrate on strengthening core technologies across eight core technologies: software, system on chip, AI, robotics, materials and parts, standards, next-generation computing and cloud/data. Specifically, the company will apply CEO Cho’s “3B” strategy – Build, Borrow and Buy – by fostering internal capabilities, leveraging external expertise and acquiring technologies. This approach includes forming partnerships with global tech giants as well as promising startups and academia in order to solidify technological leadership. Additionally, LG will further bolster its R&D efforts in high-potential future fields, such as quantum computing and space technology.
CEO-led Task Force System to Enhance Structural Competitiveness
In addition to transforming its business portfolio, LG is focusing on strengthening its structural competitiveness – represented by Quality, Cost and Delivery – to address intensifying global competition.
This year, LG is establishing a new CEO-led review system to drive these efforts. Each business division and headquarters organization will set up a task force to secure leadership in products and technology, manufacturing efficiency, R&D and operations, with CEO Cho personally overseeing their progress. Key objectives for each task force include securing product and technology innovations, enhancing manufacturing capabilities and improving R&D capabilities.
LG is also carrying out meticulous preparations to improve its ability to respond strategically to external uncertainties. Working with internal and external experts, the company is crafting predictive scenarios for key issues and developing a “playbook” to identify optimal responses. This forward-looking approach is expected to minimize the impact of outside factors on the business and uncover new opportunities.
Sustained Investment in Future Growth
While it anticipates that the business environment will continue to face considerable uncertainties in the years ahead, LG is committed to maintaining its strategic investments. Aimed at securing fundamental business competitiveness and sustaining future growth, these investments will be ‘maximized’ based on strategic priorities.
In addition to investing in facilities and R&D, LG is actively exploring the strategic allocation of investment resources for equity investments and M&As to further accelerate the company’s growth. Previously, LG announced its plan to inject over KRW 50 trillion by 2030 to drive portfolio transformation and qualitative growth.
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By News Reporter
LG Full HD Monitor (model 27BA560)1
Recent trends show that a lot of people prefer companies that take social and environmental responsibility seriously,2 and this holds true whether they’re working for them, or simply buying their products. This trend underscores the importance of Environmental, Social and Governance (ESG) principles, driving businesses worldwide to adopt more eco-friendly technologies, build low-impact facilities and design greener office spaces that are better for their employees and the planet.
Creating a more environmentally friendly office can involve a variety of measures, from using sustainable materials and installing solar panels to integrating low-carbon features. One of the simplest and fastest ways, however, is upgrading to energy-efficient IT equipment. Among the essential tools in a modern office, computer monitors stand out due to their constant use and significant influence on workplace productivity. Opting for energy-efficient monitors can significantly reduce an office’s overall energy footprint.
For businesses seeking a greener office setup, LG’s latest lineup of business monitors is an excellent choice. Featuring 20 newly launched B2B models, LG showcases its commitment to responsible product design and concern for the wellbeing of users and the environment. This isn’t just empty “marketing talk” – it’s backed by certifications from globally recognized energy and environmental standards. For example, the 27BA560 and 24BA560 models have earned the sought-after EPEAT Gold rating, while many others in the lineup boast EPEAT Silver or Bronze ratings.3 The majority of LG’s new business monitors are TCO Certified, indicating they are both energy efficient and ergonomically designed. Additionally, every model in the lineup is ENERGY STAR-certified. Beyond certifications, LG plans to calculate, manage and report on the greenhouse gas emissions associated with the lifecycle of its new monitor products.
LG Full HD Monitor (model 27BA560)1
Along with sustainability, LG’s business monitors take user comfort and productivity into consideration. The company’s versatile and efficient workplace solutions come with adjustable stands that promote good ergonomics, and eye-friendly features like Reader Mode. Designed to meet the diverse needs of professional environments, the expansive lineup offers a variety of aspect ratios (16:9 and 21:9) and screen resolutions (from Full HD to QHD) to choose from. With various ports, including USB-C, and built-in speakers and webcams,4 LG’s business monitors enable seamless video conferencing and enhanced multitasking, allowing users to charge their devices and efficiently manage their work at the same time.
With the introduction of its business monitor lineup, LG is not only supporting global businesses in their ESG efforts, but also reinforcing its own commitment to ESG-driven management and sustainable product design. The company will continue to deliver premium workspace innovations that simultaneously boost productivity, support the health of users and put less strain on the environment.
To learn more about LG’s business monitor lineup, visit the
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1 The image is staged to enhance the reader’s understanding.
2 Source:
3 EPEAT (managed by the Global Electronics Council) assesses IT products for lifecycle sustainability. Models 27BA850, 24BA850, 27BA750, 24BA750, 27BA650 and 24BA650 have all earned a Silver rating from EPEAT, while models 27BA550, 24BA550, 27BA450, 24BA450, 27BA400 and 24BA400 earned a Bronze rating.
4 Features may vary by model.
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By News Reporter
LGEDV Emerges as Strategic R&D Hub, Expanding Research Portfolio
to Automotive Components, webOS and Home Appliances
SEOUL, Nov. 5, 2024 — LG Electronics (LG) is strengthening its research and development (R&D) capabilities in Vietnam, expanding its local research program into areas including vehicle components, the webOS platform and home appliances.
This year, LG’s Vietnamese R&D subsidiary, LG Electronics Development Vietnam (LGEDV), has integrated living, kitchen and air solutions – all considered core products – into its software development and verification portfolio.
LG established its local R&D network in Vietnam in 2016 with the opening of the R&D Center in Hanoi. Growing its on-the-ground capabilities, the company set up two additional R&D branch offices in Haiphong and Da Nang in 2020. Last year, LG reorganized its Vietnamese research structure, bringing the VS R&D Center under the auspices of LGEDV, which has now become one of the company’s key research institutes in Southeast Asia.
LGEDV primarily focuses on software development and verification for LG’s In-Vehicle Infotainment (IVI) systems, which are central to the company’s strong performance in the B2B mobility solutions sector. The IVI business, which covers telematics, Audio Video Navigation (AVN) and clusters, accounts for more than 50 percent of all revenue generated by LG’s vehicle component solutions business. In addition to IVI systems, LGEDV has been involved in the development of the webOS platform since 2022, and has expanded its scope to include home appliances this year.
LG is continuously strengthening its R&D competencies in Vietnam through various recruitment and talent development initiatives, including in-house training programs led by experts from LG headquarters. The company has successfully attracted and nurtured talented individuals from Vietnam’s young, well-educated population.
Vietnam’s highly-skilled R&D workforce continues to grow, supported by the government’s aggressive R&D talent development strategies, which center on the cultivation of ICT talent at Hanoi National University. According to Vietnam’s General Statistics Office, the country’s population exceeded 100 million last year, with people under the age of 40 accounting for approximately 60 percent of the total populace.
Indicative of the caliber of Vietnam-educated developers, five out of ten coding experts selected by LG last year were from LGEDV. Huynh Tan Y, a researcher with LGEDV, won the LG Coding Competition at the LG Software Developer Conference (SDC) 2023, which involved around 100 developers from all across the LG Group.
LGEDV currently employs around 1,100 research staff, with plans to increase this figure to over 1,200 by the end of the year. A testament to LG’s effectiveness in the area of R&D recruitment and talent development, the company’s rapidly-growing Vietnamese R&D workforce numbered only 200 as recently as 2019.
LG is building a global system of close R&D cooperation, with Korea at its center, and aims to further strengthen its capabilities in product development and technology research.
The company maintains research institutes and development teams under each of its business units, with the CTO division developing core technologies from a mid to long-term perspective. In Korea, LG has R&D arms in Seocho, Yangjae, Gasan, Incheon, Changwon and Magok, while internationally, it operates 22 research institutes spanning North America, Europe, Japan, India and Vietnam. These institutes focus on global R&D activities and business responses geared toward identifying future growth engines.
Along with world-class R&D centers, LG’s Vietnam operations encompass manufacturing facilities in Haiphong, producing washing machines, refrigerators, vacuum cleaners and IVI products, as well as a sales subsidiary in Hanoi.
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By News Reporter
Company’s Business Monitor Lineup Boasts a Wide Range of Screen Resolutions and Sizes,
Offering Versatile Options to Meet a Broad Spectrum of Workplace Needs
SEOUL, Oct. 18, 2024 — LG Electronics (LG) is launching its business monitor lineup, introducing 20 brand-new models designed to enhance productivity and ergonomic comfort in the workplace. Well known for its premium consumer monitors, LG is now expanding into the B2B sector with monitors tailored to the needs of diverse professional environments, from corporate and government to education, healthcare and the creative industries. The impressive lineup presents customers with a wealth of choices, including a variety of different aspect ratios and screen resolutions ranging from QHD to Full HD.
LG UltraWide Displays: Spacious, High-resolution Screens
Available in the 21:9 aspect ratio, LG’s UltraWide business monitors are outstanding multitasking solutions with high-resolution screens. The 34BA85QE-B and 34BA75QE-B feature 34-inch curved QHD+ (3,440 x 1,440) resolution IPS displays that deliver sharp, detailed visuals and accurate color reproduction. They also provide excellent color consistency across a wide viewing angle, ensuring distortion-free images from practically any vantage point.
Suitable for government control rooms, financial traders, IT developers and programmers, the extended screen format of LG UltraWide business monitors makes multitasking easier, giving users the space to keep several windows open at the same time. The 34BA85QE-B comes equipped with a built-in webcam and microphone, enabling convenient video conferencing without the need for additional devices. LG’s feature-packed UltraWide business models also offer Picture-by-Picture (PBP) mode, specifically supporting 2PBP, which streamlines workflow by allowing users to display up to two windows side by side.
Additionally, thanks to the inclusion of USB-C 3.2 Gen1 with power delivery (up to 90W), LG’s UltraWide monitors can charge connected devices while simultaneously displaying content from them, making life even more convenient for busy professionals.
QHD Monitors: Ergonomic Designs with Adjustable Stands
Ideal for customer-facing settings, such as government service centers, airports and hotel lobbies, LG’s QHD monitors feature ergonomic designs with height-, swivel-, and tilt-adjustable stands that help deliver customized comfort for each user. This flexibility offers numerous possibilities for monitor-position adjustment. For example, the screen can be significantly lowered to enable direct eye contact and better communication between staff and customers. Furthermore, the inclusion of Reader Mode helps to lessen eye fatigue when reading documents, making the new monitors more comfortable to use for extended periods. The monitors also help safeguard users’ eye comfort with Flicker Safe Mode, which minimizes the occurrence of screen flickering.
The company’s QHD lineup includes two 27-inch, high-resolution variants (models 27BA75QB and 27BA65QB), each fitted with a premium IPS display that provides exceptional clarity, a wide viewing angle, 99 percent coverage of the sRGB color gamut and support for SDR and HDR modes. Along with precise color reproduction, both of the new QHD models boast a 100Hz refresh rate that results in smooth visuals and a pleasant user experience. To ensure compatibility with the widest possible range of digital devices and peripherals, LG’s QHD monitors incorporate multiple connectivity options, such as USB-C and HDMI.
Full HD Monitors: Enhancing User Convenience
LG’s Full HD Monitors are well suited to roles that require users to work with data or content from multiple external devices, offering USB Type-C and other types of USB ports. Available in 27- and 23.8-inches, LG’s business monitors with Full HD (1,920 x 1,080) resolution IPS panels (models 27BA850 and 24BA850) come with built-in speakers and webcams for convenient video conferencing. Each monitor also has its own internal power supply to ensure reliable performance and minimize clutter in the workspace.
Reflecting LG’s commitment to sustainable product design, the new business monitors come with globally-recognized energy and environmental certifications, including ENERGY STAR, EPEAT, and TCO Certified. Full HD models 27BA850, 24BA850, 27BA750, 24BA750, 27BA650 and 24BA650 have all earned a silver rating from EPEAT indicating that products meet a broad and robust set of criteria, also making them a more sustainable purchasing option.
“LG’s new business monitors meet the growing demand for high-resolution, ergonomically designed workplace screen solutions,” said YS Lee, vice president and head of the IT business unit of LG Business Solutions Company. “With our market-leading B2B monitors, we aim to support the digital transformation of the workforce and enhance the employee experience.”
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By News Reporter
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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