LG Strengthens Cybersecurity Leadership With KOLAS IoT Cybersecurity Testing Accreditation
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By News Reporter
Have you ever wondered how many LG OLED TVs are shipped every year? 100 thousand units perhaps, maybe as much as a million? In the first half of 2023, LG recorded over 1.33 million shipments of its stunning OLED TVs, setting new benchmarks and records its competitors can only dream of.
According to market research firm
link hidden, please login to view, LG captured over 55 percent of the global OLED TV market in the first six months based on total shipments. As a renowned OLED TV leader now celebrating 10 years of innovation in this space, LG has once again defended its premium TV crown while further cementing LG OLED TV’s status as the pinnacle of premium TVs.
The “bigger the better” trend continues to prevail in the TV market, which is great news for LG. As more and more people desire larger TVs for their living spaces, models of 75 inches or larger accounted for a remarkable 11.4 percent share of total OLED TVs sold, while shipments’ yearly average growth rate topped 90 percent over the past five years. Staying on top of this growing trend, LG is resuming its dominance in the market with an outstanding 64.2 percent share in total shipments of OLED TVs over 75 inches.
LG is targeting this new demand for large and premium TVs in the second half of 2023 with the groundbreaking TV (model 97M3) it unveiled in July, which boasts the world’s first 4K 120Hz wireless solution that makes it easy for customers to achieve their dream interior.
Not one to be confined, LG unleashed a tidal wave of 10 million TV units (OLED and LCD) on the world, which has helped the company carve out a 16.2 percent share of revenue for itself in the global TV market.
Despite facing a downturn in the global TV market, LG persisted in strengthening its inventory management and securing higher profits while actively pursuing a strategic approach for its premium and ultra-large displays. And this commitment has paid off substantially, with its LG OLED TVs now accounting for around 30 percent of the company’s overall revenue generated from TV sets.
TV shipments totaled over 92 million units in the first half of 2023, matching last year’s first half performance. The OLED TV segment, which has been led by LG for a number of years, has already passed the 2 million shipments mark this year, which bodes well for the rest of 2023.
OLED TVs are continuing their takeover of the global TV market after capturing 9.3 percent of all revenue in the first half. Meanwhile, Omdia predicts that OLED TVs are set to shine even brighter, projecting at least a 43 percent revenue share among premium TVs priced above USD 1,500.
Find all the latest news on the home entertainment business and learn more about its world-leading innovations on the LG Newsroom.
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By News Reporter
“Level 3” CSMS Certification Demonstrates Company’s Capability
to Ensure Digital Safety of Its Innovative Mobility Solutions
SEOUL, Dec. 3, 2024 — LG Electronics (LG) continues to bolster its cybersecurity capabilities in automotive technologies, reinforcing its position as a prominent tier-1 mobility solution supplier. The company recently earned Cybersecurity Management Systems (CSMS) certification at Level 3 from TÜV Rheinland, a global testing and certification agency. Recognized as the highest level of certification, this milestone reflects LG’s dedication to ensuring security throughout product development, manufacturing and real-world application.
The CSMS certification, which confirms compliance with the ISO/SAE 21434 standard and UN R155 regulation, is now a mandatory requirement for automakers in 56 markets. The certification involves comprehensive evaluations, including simulated cyberattacks designed to identify vulnerabilities in security measures and processes. LG’s advancement from Level 2 to Level 3 certification underscores its commitment to meeting increasingly strict cybersecurity criteria, achieved through rigorous testing of both its CSMS standard and manufactured products.
In line with industry best practices, LG adheres to the Automotive Software Process Improvement and Capability Determination framework, widely known as Automotive SPICE® (ASPICE). Developed by the Automotive Special Interest Group, which includes many well-known European automakers, ASPICE provides a systematic approach to evaluating and improving vehicle software development processes. LG has received recognition for its implementation of ASPICE for Cybersecurity, an extension of ASPICE that includes a number of additional cybersecurity assessments.
As the automotive industry transitions toward software-defined vehicles, LG remains at the forefront of addressing evolving cybersecurity challenges. In addition to obtaining globally recognized certifications including CSMS and adopting ASPICE framework, LG has strengthened its capabilities through strategic initiatives, such as the acquisition of Cybellum, an Israeli automotive cybersecurity company, in 2021.
“LG is at the forefront of employing cutting-edge security technologies and processes to deliver safer and more reliable solutions for automakers and end users,” said Eun Seok-hyun, president of LG Vehicle Solution Company. “We will continue to refine our security systems to stay ahead of increasingly sophisticated cyberthreats targeting the mobility sector.”
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By News Reporter
Now Available in 65 Inches, the M4 Is the First and Only TV to
Wirelessly Transfer Video and Audio at 4K 144Hz
SEOUL, July 1, 2024 — LG Electronics (LG) is set to begin the global rollout of its new OLED evo M4 series TV with the accompanying Zero Connect Box that provides wireless connectivity between the TV and the receiver. The company is presenting the new model in 65 inches, in addition to the 77, 83 and 97 inches; the M series offers to accommodate the personal preferences and living spaces of as many customers as possible. Powered by the cutting-edge LG α (Alpha) 11 AI Processor, the OLED M4 delivers superior home entertainment experiences while its proprietary wireless-transmission technology unlocks new possibilities in living-space curation.
LG’s OLED evo M4 is the first-ever TV with the ability to display wirelessly transmitted video and audio at 4K 144Hz.* The Zero Connect Box sends signals to the TV’s self-lit OLED screen without any direct wire connections, as there are no cables between the two devices to disconnect and reconnect.
Thanks to its wireless transfer capability, the Zero Connect Box can be placed almost anywhere in the room, letting users enjoy the flexibility to arrange their living space however they want to. Bringing numerous new possibilities to the art of ‘interior curation,’ the Zero Connect Box also enables users to effortlessly move the screen, or the Zero Connect Box itself, whenever necessary.
An additional benefit with the Zero Connect Box is that it becomes a simple solution to achieving a clean, clutter-free living space. Users no longer have to think up creative ways to hide or tolerate the usual tangle of cables around the TV.
Meanwhile, in addition to wireless connectivity, the LG OLED M4 boasts spectacular picture quality with its stunning self-lit screen and the new α (Alpha) 11 AI Processor. Designed exclusively for use in LG’s award-winning OLED TVs, this processor leverages three decades of AI innovations, providing personalized experiences tailored to user preferences and habits.
The M4’s faster AI processing speeds, along with its Neural Processing Unit (NPU), elevate it to the status of the ultimate gaming TV. Supporting 4K content at a blazing 144Hz, it delivers fluid gameplay and lifelike visuals. LG’s powerful processor, combined with the state-of-the-art OLED display, takes gaming enjoyment to the next level.
LG’s OLED M4 series TV with the Zero Connect Box will be rolling out in major markets worldwide from July 1.
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* LG 2024 OLED M4 series TVs up to 83 inches (screen size) provide support for 4K@144Hz. The 97-inch OLED M4 supports 4K@120Hz.
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By News Reporter
Increasing Popularity of LG’s Chillers is Propelling the Company to the
Top-Tier of Global HVAC Manufacturers
SEOUL, May 21, 2024 — LG Electronics’ (LG) B2B heating, ventilation and air conditioning (HVAC) business is experiencing solid growth, propelled by strong sales of the company’s chillers designed for large buildings and commercial facilities. Leveraging LG’s differentiated core technologies, these solutions have seen an impressive surge in average annual sales with a nearly 40 percent increase over the past three years.
Chillers, cooling systems that supply cool air to indoor spaces by circulating cold water through a heat exchanger, have been a part of LG’s offerings since 2011. LG now boasts a full lineup of HVAC solutions, including residential and commercial air conditioners, central air conditioning chillers, chillers for nuclear power plants and building management systems (BMS).
The HVAC business, emerging as a new growth engine for the company, is actively driving global sales of LG chillers. This is accomplished by targeting not only new battery and material manufacturing plants but also established facilities like nuclear power plants. Recently, LG secured a significant contract to supply chillers for a state-of-the-art battery plant being built in North America.
According to LG’s market research, the global chiller market is anticipated to grow by six percent annually until 2027. LG’s goal is to more than double its HVAC product sales by 2030, positioning itself as a top-tier global provider of both residential and commercial HVAC solutions, both of which continue to play a crucial role in LG’s B2B sector success. Commercial chillers are expected to make a meaningful contribution to the expansion of LG’s HVAC business.
LG chillers, equipped with an array of innovative technologies, offer not only great performance and energy efficiency but are also cost-effective in terms of maintenance. By integrating advanced heat pump technology and employing high-efficiency compressors and heat exchangers, LG’s advanced chillers provide reduced energy consumption and operational expenses compared to conventional chiller products.*
The LG Inverter Scroll Chiller, one of LG’s notable chillers, is an efficient heat pump system that supplies water and provides heating and cooling for commercial facilities. It utilizes R32 refrigerant, which boasts a global warming potential (GWP) only a third to a quarter of that of R410 refrigerant. Designed with easy maintenance in mind, LG chillers feature a number of simple-to-replace components and offer convenient access to streamline the inspection process.
Already well-established in Asia, LG’s chiller business is expanding internationally, increasing its presence in the Middle East, Europe and Central and South America in response to rising demand. The company has an advantage in the HVAC industry thanks to its sophisticated core technologies, which include key components such as compressors and motors. Additionally, LG is proactively investing in research and development, with a focus on essential HVAC technologies including heat exchangers, inverters and heat pumps.
“We are committed to delivering efficient cooling systems that leverage our proprietary HVAC technologies to present exceptional performance and value to our global customers,” said James Lee, head of the Air Solution Business Unit at LG Electronics Home Appliance & Air Solution Company. “LG will continue to expand its presence in the global HVAC market with differentiated solutions including chillers, aligned with the latest trends in electrification and decarbonization.”
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* Compared to previous 1-stage LG chillers, LG chillers adopt magnetic/air bearings (oil-free) with VSD drive, customized impeller and falling-film heat exchanger with high efficiency, increasing non-standard part load efficiency (NPLV) up to 91 percent based on GB Standard Condition, 500RT. Employing oil-free technology and fewer moving parts has helped reduce the operation cost of LG chillers up to 36 percent.
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By News Reporter
Company Launches an Innovative New Material PuroTec to Bolster Growth
and Global Presence in B2B Sector
SEOUL, May 10, 2024 — LG Electronics (LG) is accelerating the growth of its advanced materials business with the launch of LG PuroTecTM, a cutting-edge antimicrobial glass powder. Designed to safeguard product hygiene and suitable for diverse applications, this innovative material leverages the company’s proprietary glass composition design technology and thorough understanding of real-life home appliance usage environments.
PuroTec, a portmanteau of the words Pure, Protect and Technology, possesses anti-fungal and antibacterial properties that prevent microorganism contamination and associated odors. LG’s glass powder can be incorporated into various materials, including plastics, paint and rubber. Additionally, the company’s antimicrobial glass powder provides chemical and thermal stability, as well as durability and resistance to discoloration.
LG first began developing antimicrobial glass powder in 1996, and now holds an impressive 219 patents related to the production and application of glass powder. The company manufactures its antimicrobial glass powder at LG Smart Park in Changwon, South Korea, which has an annual production capacity of 4,500 tons. This year, the company is expanding sales of its antimicrobial glass powder to major markets in Asia, such as China, Vietnam and India, and is anticipating a year-on-year increase in sales of over 700 percent.
Moving forward, LG aims to significantly ramp up its advanced material business, utilizing international exhibitions to introduce PuroTec to potential global customers. PuroTec was recently honored at Chinaplas, Asia’s largest plastic and rubber industry exhibition, held in Shanghai, China (April 23-26), where it was awarded ‘Innovation of the Year’s status. This month, LG plans to unveil PuroTec at the National Plastics Exposition (NPE), considered one of the world’s top-three plastic industry events, which will take place in Orlando, Florida, USA, from May 6-10.
“We are dedicated to building up our advanced materials business, and are confident that it will drive new growth for our B2B business,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “LG will continue to invest in research and development to further enhance the efficacy and quality of its glass powder materials, and to uncover new cases for its application in the home appliance category and beyond.”
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