Quantcast
Jump to content

Recommended Posts

Posted

Company Continues to Perform Well in Highly Competitive Sector,
Securing Orders Worth KRW 8 Trillion in the First Half of 2022

VS_01-600x375.jpg

SEOUL, July 5, 2022 — LG Electronics (LG) continues to establish its position as a major force in the electric vehicle (EV) component solutions business, confirming it has secured orders valued at KRW 8 trillion in the first half of 2022 to deliver its in-vehicle experience to diverse global automakers.

Expanding cooperation with major global car manufacturers including Mercedes-Benz AG, Groupe Renault and General Motors and supplying its P-OLED IVI systems to clients’ electric vehicles, LG is seeking to augment its comprehensive portfolio.

LG’s EV component solutions business is rapidly growing based on its three core businesses sector: the LG Vehicle component Solutions (VS) Company, ZKW Group and LG Magna e-Powertrain.

Acquired by LG in 2018, ZKW Group boasts market-leading vehicle headlamp technology, and a global clientele that includes BMW, Mercedes-Benz AG, Audi and Porsche. Meanwhile, LG Magna e-Powertrain is expanding its worldwide production base, adding a third manufacturing facility (Ramos Arizpe, Coahuila, Mexico) to its existing factories in Incheon, South Korea and Nanjing, China. Construction has already begun on the 25,000-square meter site, which is projected to open in 2023 and is slated to produce key components, such as motors and inverters, for General Motors’ next-generation of EVs.

In the first half of this year, the value of orders for LG’s advanced EV component solutions surpassed the total accumulated value of all orders on hand as of 2021 (KRW 60 trillion) by a mark of 13 percent. The company expects that the accumulated orders placed with its EV components business by the end of 2022 will exceed KRW 65 trillion in value.

Given the decrease in vehicle production due to the shortage of automotive semiconductors and other ongoing global supply issues, the performance is encouraging as the consolidated sales for LG’s EV component solutions business increased up to 24 percent compared to last year, reaching KRW 6.7 trillion.

Based on a report from market research firm Strategy Analytics published in April 2022, LG is estimated to be already leading the global telematics market, boasting a 22.7 percent market share as of the first quarter of 2022 and recording a double-digit market share in the audio, video and navigation (AVN) market since last year.

“Leveraging the advanced core technologies and the strong partnership with the global manufacturers, we will continue to provide differentiated value to our auto-industry customers,” said Eun Seok-hyun, president of the LG VS Company.

# # #

link hidden, please login to view

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Similar Topics

    • By News Reporter
      Curated Collection of Captivating Animated Movies
      Arrive to LG 1 Channel in Five European Countries

      SEOUL, Nov. 19, 2024 — LG Electronics (LG) is set to deliver a remarkable lineup of heartwarming content from DreamWorks Animation and Illumination to France, Germany, Italy, Spain and the UK. This will be available through its free ad-supported channel, LG 1, as well as the easily accessible Kids & Family tab on LG Channels, which is dedicated to offering a wide selection of family-friendly content. This new partnership with NBCUniversal (NBCU) Global TV Distribution will let families discover a rich variety of must-watch movies from the comfort of their home this holiday season.
      LG Smart TV owners are gaining access to a vast library of beloved films from DreamWorks Animation, including Puss in Boots,1 a hilariously funny film about the one-and-only swashbuckling feline who is on the adventure of his nine lives as he teams up with Kitty Softpaws and Humpty Dumpty for the ultimate showdown with the notorious Jack and Jill; and Trolls,2 a musical adventure filled with heart, hilarity and happiness that follows two mismatched friends who must work together in perfect harmony to save the day after their village is invaded by the grumpy Bergens.
      Other fan-favorites coming to LG Smart TV screens include How to Train Your Dragon3 and Kung Fu Panda.4 How to Train Your Dragon is a captivating, fun and original story packed with fire-breathing action, epic adventure and big laughs where we follow Hiccup, a young Viking who defies tradition, as he befriends one of his deadliest foes – a ferocious dragon he calls Toothless. Together, these unlikely heroes fight against the odds to save both their worlds in this wonderful, feel-good hit. In Kung Fu Panda, noodle-slurping dreamer, Po, must embrace his true self – fuzzy flaws and all – in order to become the real Dragon Warrior.
      Next up is Madagascar,5 a delightful story of four pampered animals from New York’s Central Park Zoo who find themselves shipwrecked on the exotic island of Madagascar and discover it really is a jungle out there! Viewers will also love Megamind,6 a hilarious twist on the superhero genre. Super villain Megamind’s dreams have come true when he conquers the city’s protector, Metro Man, gaining control of Metro City. But when a new villain is created and chaos runs rampant, the world’s biggest “mind” and his comic sidekick might actually save the day.
      LG Smart TV owners can also discover an exciting curated collection of movies from Illumination, including Dr. Seuss’ The Lorax,7 a fantastical and wildly imaginative 3D animated adaptation of the classic Dr. Seuss environmental conservation fable that recounts the story of Once-ler, an ambitious and enterprising creature who – despite the warning of the Lorax – destroyed all the town’s trees for his once thriving factory, leaving nothing but one seed; and Hop,8 which mixes live-action and animation to tell the story of Fred, an out-of-work slacker who accidentally injures the Easter Bunny and must take him into his home as he recovers. As Fred struggles with the world’s worst houseguest, both will learn what it takes to finally grow up.
      LG will continue to partner with renowned entertainment companies around the world to offer enriched content and services designed to captivate LG Smart TV users worldwide. Stay tuned to
      link hidden, please login to view for the latest news. # # #
      1 Available in France.
      2 Available in the UK.
      3 Available in Italy.
      4 Available in the UK.
      5 Available in Germany.
      6 Available in France, Italy and the UK.
      7 Available in Germany and Spain.
      8Available in Italy. 
       

    • By News Reporter
      104 Young Participants From 16 Countries Showcase IT Skills,
      Embracing New AI and Coding Challenges

      SEOUL, Nov. 8, 2024 — LG Electronics (LG) recently concluded the 2024 Global IT Challenge (GITC) for Youth with Disabilities in Manila, Philippines, reinforcing its commitment to empowering young people with disabilities. Held from November 3-8, this year’s GITC brought together 104 participants from 16 countries to compete in six innovative IT challenges.
      After advancing through national preliminary rounds, the finalists tested their abilities across diverse digital tasks. The challenges included eTool, which assessed participants’ ability to create presentation slides and manage spreadsheets; eLifeMap, which focused on online search and image retrieval skills; eContent, an evaluation of video editing and production capabilities; and eCreative, where participants coded a self-driving car program and proposed technological concepts aimed at enhancing the quality of life for people with disabilities.
      This year, GITC introduced a new assessment for generative AI proficiency, allowing participants to demonstrate adaptability and creativity – skills increasingly sought after in the IT field.
      The 2024 GITC winner, Zulzahirah Binti Mohd Anwar from Malaysia, excelled across multiple categories, expressing pride in competing alongside peers with shared aspirations and in building global friendships.
      Since its inception in 2011, GITC has opened pathways into the IT profession for young people with disabilities, equipping them with ICT skills and boosting their confidence. Over 13 years, the competition has seen approximately 5,000 young participants from 40 countries, with many alumni pursuing successful careers in IT and related fields. Notably, Aikeo Koomanivong, a visually impaired 2014 participant, now directs a disability service center in Laos, where he has pioneered accessible technologies, including free braille software.
      Aligned with LG’s Better Life for All vision, GITC embodies the company’s broader commitment to diversity and inclusion. LG is also actively working to enhance the accessibility of its services and products through initiatives such as the LG Comfort Kit, braille stickers and sign language customer service centers.
      “GITC has been a stepping stone for nearly 5,000 young adults with disabilities, empowering them to overcome barriers and become competitive IT talent,” said Yoon Dae-sik, senior vice president of External Relations at LG Electronics. “We remain dedicated to supporting individuals with disabilities as they refine their skills and build self-confidence, helping them realize their dreams in IT field.”
      Through GITC and similar initiatives, LG continues to champion inclusivity and accessibility, providing young people with disabilities the tools and support needed to thrive in a technology-driven world.
      # # #

      link hidden, please login to view
    • By News Reporter
      Simplifying Complex Driving With Intuitive Navigation Guidance

      SEOUL, Nov. 6, 2024 — LG Electronics (LG) has been awarded the prestigious “King Sejong Award” at the 2024 Technology Patent Awards for its pioneering augmented reality (AR) technology designed for vehicles. This annual event, organized by the Korean Intellectual Property Office, recognizes patents registered within the past decade that contribute to enhancing South Korea’s industrial competitiveness.
      The patent for LG’s advanced vehicle AR technology was submitted both domestically and internationally in 2022. This innovative system aims to improve the future mobility experience by leveraging AR to visualize various driving scenarios. It generates 3D graphics that provide vehicle information and navigation guidance on in-vehicle displays.
      Driving can often be confusing, especially on complex roads or unfamiliar routes, where estimating distances or directions becomes challenging. LG’s in-vehicle AR technology alleviates this confusion by providing clear guidance lines that drivers can easily follow. The system employs sophisticated algorithms to integrate data from various vehicle sensors, including smart cameras, navigation systems and driver assistance sensors, along with external data sources. By harnessing information from GPS, Advanced Driver Assistance Systems (ADAS) and vehicle-to-everything (V2X) technologies, the system can predict potential hazards and accident risks based on the vehicle’s location and surrounding environment, thereby enhancing safety during journeys.
      A key feature of LG’s patented technology is its ability to display dynamic AR images. This capability makes route guidance more intuitive by adjusting the symbols representing the vehicle and directional guidance – such as combining a spade and chevron into an arrow shape or separating them – based on real-time driving conditions. The AR graphics can seamlessly separate, transform and merge, allowing the system to visually convey complex driving information, such as speed, incline, lane changes and route recalculations, in a manner that can be easily understood by the driver.
      LG plans to leverage this advanced vehicle AR technology to develop future mobility solutions for global automakers and accelerate the development of new mobility software. The company also aims to generate royalty-based revenue from the patent.
      “LG is excited to utilize its award-winning AR technology to create mobility solutions that elevate driver convenience and contribute to safer roads for everyone,” said Kim Dong-wook, head of the B2B Advanced Technology Center at LG Electronics. “Moving forward, we will continue to refine our AR technology to ensure compatibility across all vehicle platforms. We anticipate that this exciting innovation will significantly contribute to the growth of our software business.”
       
      # # #

      link hidden, please login to view
    • 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. 
      # # # 

      link hidden, please login to view
    • Solution For That Pollution
    • By News Reporter
      Despite the fact that farmers across the world produce enough food to feed every global citizen, hundreds of millions – many of them children – still go to bed hungry every night. In fact, the Food and Agriculture Organization (FAO) of the United Nations estimates that as much as 733 million people suffer from hunger due to various factors such as weather shocks, conflicts, economic downturns, inequality and pandemics.

      To bring more attention to global hunger, malnutrition and food insecurity, the FAO assigned October 16 as World Food Day. Under this year’s theme, “Right to Foods for a better life and a better future,” the FAO created a video illustrating the production and sharing of food across different cultures while highlighting that access to a diverse range of safe, nutrient-rich foods should be a human right.

      In its commitment to spreading awareness, LG showcased this video on its expansive New York Times Square and London Piccadilly Circus billboards as a part of the LG Hope Screen program. Earlier this year, the LG Hope Screens
      link hidden, please login to view and, last year, As a global corporate citizen that recognizes the importance of acting now, LG is dedicated to improving the lives of people from all backgrounds through its social contribution activities organized under the company’s Better Life for All vision. LG offices around the world have aligned under this company-wide vision to address various global issues, with a particular focus on alleviating poverty and hunger in less fortunate areas.

      For instance, LG India has been taking a strong stance against malnutrition by bolstering local children’s food and nutrition security with its flagship CSR project, “The Life’s Good Nutrition Program.” In 2023, LG India leveled this project up by joining forces with Akshaya Patra, a leading NGO, and the Annapoorna Trust, a charitable trust, to serve nourishing breakfasts and lunches to no less than 59,000 children attending government schools across the country.

      Coinciding with its Better Life for All initiatives, LG Indonesia’s “LG Loves and Cares” program supports various social causes. This program involved the distribution of food packages to locals of all ages, with each delivery reviewed by a leading nutritionist to ensure a nutritional balance that promotes better well-being.
      With similar programs showcasing its Better Life for All vision running in other parts of the world, including Nigeria, Mexico and Iran, stay tuned to the for more.
      # # #

×
×
  • Create New...