LG to Unveil New Minimalist-Design Appliances at CES 2023
-
Similar Topics
-
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.
# # #
-
By News Reporter
LG first incorporated Wi-Fi modules into its home appliances over a decade ago, and since then, the company has continued to enhance home living with its groundbreaking innovations. A leader in the fast-growing AI home appliance market, LG is now applying its proprietary on-device AI chip – the ‘DQ-C’ – to its latest lifestyle solutions, infusing them with the unique power of ‘Affectionate Intelligence.’
Introduced by CEO William Cho at CES 2024, Affectionate Intelligence underscores LG’s commitment to delivering differentiated customer experiences via cutting-edge AI technology that is more caring, empathetic and attentive.
Affectionate Intelligence is built on three pillars: Real-time Life Intelligence, drawing insights from real-life data gleaned from our global LG smart products and diverse IoT devices; Orchestrated Intelligence, seamlessly coordinating the operation of interconnected devices in alignment with customer preferences and intentions; and Responsible Intelligence, ensuring secure learning and adaptation, upholding privacy and integrity while delivering personalized experiences.
Enhancing Convenience with an Expanded ‘Affectionate Intelligence’ Lineup
LG’s expanded Affectionate Intelligence home appliance lineup now boasts 11 product categories: air conditioners, washing machines, dryers, Styler, air purifiers, robot vacuums, refrigerators, electric ranges, dishwashers, water purifiers and TVs.
Launched earlier this year in South Korea, the Affectionate Intelligence stand-type air conditioner offers unparalleled comfort with enhanced ‘AI Smart Care,’1 a feature that detects the user’s location in real time and automatically adjusts airflow directionality, intensity and temperature. Another innovative addition is the WashCombo all-in-one washer and dryer, which selects the optimal drum motions from LG’s 6Motion technology to gently yet thoroughly care for user’s laundry2 after analyzing each load’s weight, humidity level and fabric types.
Looking ahead, LG plans to evolve its Affectionate Intelligence into a generative AI-based service that extends beyond the smart home to diverse sectors and spaces, including mobility and online.
LG’s AI Home Appliances: From Wi-Fi Modules to Hyper-Personalized ThinQ UP 2.0
In 2011, LG became the first manufacturer to apply Wi-Fi modules to its home appliances. Six years later, in 2017, the company expanded Wi-Fi connectivity to most of its appliance lineups, introducing the LG ThinQ brand and ushering in the era of AI home appliances.
In January 2022, LG elevated customization and convenience with the launch of ThinQ UP, allowing the addition of new features to compatible LG appliances based on the analysis of customers’ usage patterns and habits. ThinQ UP home appliances operate intelligently, reducing the time and effort associated with household chores. They also offer flexible subscription options along with the ability to add new user-friendly services. With 336 downloadable ThinQ UP features now available3 – and more being added regularly – users can continually update their existing appliances for a tailored, always-evolving customer experience.
Last year, LG signaled the beginning of a new era for AI appliances with the South Korean debut of ThinQ UP 2.0. This latest smart life solution from the company offers hyper-personalization with advanced, new features plus a range of subscription services from LG and various partner companies.
Dedicated On-Device AI Chip Lineup and Expanded Application
In July 2023, after more than three years of research and development, LG revealed the DQ-C chip – a sophisticated on-device AI chip – and a brand-new operating system for home appliances. Last year, the company also established an organization specifically tasked with developing the next-generation of AI chips for future Affectionate Intelligence home appliances. This forms part of LG’s strategy to diversify its growing portfolio of state-of-the-art AI chips, and to bring the many benefits and advantages of AI-powered performance and features to more customers.
With ‘Affectionate Intelligence’ and impressive core technologies, LG has solidified its position as a global leader in the home appliances industry, and cemented its reputation as a smart life solutions company.
# # #
1 Products capabilities are currently available in Korean region only.
2 Availability for products, features and home services may vary depending on model and region.
3 Availability for products, features and home services may vary depending on model and region.
link hidden, please login to view -
By News Reporter
SEOUL, Jan. 8, 2024 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the fourth quarter and full-year of 2023.
LG reported an annual consolidated revenue of KRW 84 trillion, marking the third consecutive year of achieving the highest annual revenue, and an annual operating profit of KRW 3.5 trillion. These figures demonstrate a resilient business performance, approaching the results observed during the prior period of pent-up demand, despite challenges posed by delayed demand recovery from the economic slowdown as well as heightened market competition.
The historic high in annual revenue can be attributed to the robust fundamentals of LG’s core businesses and the growth experienced in B2B sectors. Notably, the compound annual growth rate (CAGR) of LG’s revenue over the last three years stands at over 13 percent. Additionally, the annual operating profit demonstrated a solid performance, reaching levels comparable to the preceding year.
LG’s effective management performance in the face of a challenging external environment is particularly noteworthy, setting it apart within the industry. Strategic efforts to enhance the business portfolio, including the early identification of market turning points to drive high growth in B2B sectors, played a pivotal role. Business model innovation, such as diversifying from hardware-oriented businesses to platform-based service business, also contributed to maintaining stable profitability.
In the home appliance & air solution business, LG is expected to have achieved an annual revenue milestone of KRW 30 trillion. Strategic market approaches, such as expanding volume zone lineups while retaining premium leadership to address demand polarization, played a key role in this success. B2B expansion in areas like HVAC, components and built-in appliances further contributed to overall growth. Going forward, LG will concentrate efforts on strengthening core competencies in product and manufacturing competitiveness, while accelerating changes in business models, including direct-to-consumer (D2C) and subscriptions, to prepare for the future. The company will also accelerate efforts to evolving its smart home solutions, reflecting the value of “Zero Labor Home,” by expanding the lineup of home appliances embedded with operating systems.
The vehicle component solutions business is anticipated to have exceeded KRW 10 trillion in annual revenue within a decade of its establishment, becoming one of LG’s core businesses. The average operating rate of production facilities has surpassed 100 percent since last year, driving growth. Starting this year, LG will intensify efforts to secure capabilities in the evolving trend of software-defined vehicles while aiming for growth in volume. Leveraging differentiation technologies accumulated in home appliances and IT, the company plans to enhance in-vehicle experiences while accelerating the efficiency and synergy of the entire business, including EV components and headlamps.
Despite challenges in key markets like Europe, the home entertainment business experienced meaningful growth in webOS content and services. This year, the expansion of the webOS ecosystem will extend beyond TVs to encompass smart monitors, in-vehicle infotainment and other areas, further broadening the business scope. From a product perspective, LG will significantly strengthen both the top-tier OLED lineup and the QNED lineup, following a dual-track strategy to lead the premium market.
The business solutions company is concentrating on the early commercialization of key areas such as EV charging and robotics. As a leader in LG’s B2B business, the segment aims to accelerate the shift from supplying single products to integrating and providing adjacent solutions. With a significant proportion of new businesses within the organization, investments are prioritized for future preparations rather than short-term management performance.
It is important to note that these figures represent tentative consolidated earnings based on the Korean International Financial Reporting Standards and are provided as a service to investors before LG Electronics releases its final earnings results. The official announcement of confirmed results, including the net profit for the year 2023 and the management performance of each Company, is scheduled for later this month.
# # #
link hidden, please login to view -
By News Reporter
When products or services are poorly designed, they can inadvertently create barriers that exclude people with disabilities. Every company should work to improve accessibility to ensure convenience extends to such individuals as well as older adults.
As a part of link hidden, please login to view, LG demonstrates its commitment to creating a sustainable and accessible world, guided by the mission of a Better Life for All. To see how LG is working to incorporate accessibility features and universal design into all its product groups, let’s explore how the company is striving to provide value and unparalleled experiences through its technological innovations that ensure a better life is truly accessible for all.
Universal UP Kit
It may be hard for people facing physical challenges to operate home appliances or open and close doors. For these consumers, LG has created the ‘Universal UP Kit’ that aims to enable everyone, regardless of their gender, age or disability, to easily use the company’s products. , the kit includes attachable accessories that allow easy use of refrigerators, washing machines, dryers, wireless vacuum cleaners and water purifiers. What’s more, to reduce its carbon footprint, the Universal UP Kit is made with recycled plastic.
Automated and Convenience Features
Due to air pressure, refrigerators can be hard for anyone to open, and many people have experienced not being able to open the refrigerator with hands full of groceries. To solve this problem, the LG Objet Collection Fridge is equipped with an ‘Auto Door,’ enabling users to open the refrigerator door with one touch.
The LG SIGNATURE refrigerator also provides an Auto Open Door feature thanks to the smart sensor detector at the foot of the refrigerator, opening the door without the need to press or touch anything. The inside of the refrigerator features the ‘Auto Smart Drawer,’ enabling the drawers to glide out automatically. Various other LG appliances deliver similar comfort and convenience, with features including dishwasher doors that open upon cycle completion, washing machines that automatically dispense detergent and air purifiers that notify users to change the filter.
Speech Recognition
LG has also launched products with voice recognition features for consumers with motor impairment who may have difficulty operating products with their hands. The LG PuriCare Water Purifier, the first water purifier launched in South Korea with voice recognition features, allows users to ask for their desired amount of water without any buttons. This feature is also available in other LG products, including air conditioners, the LG CordZero ThinQ robot vacuum, select four-door refrigerator models and LG SIGNATURE Wine Cellars, and will be expanded to more products gradually.
Braille Stickers
For customers with visual impairments, LG has developed and distributed braille stickers in South Korea, consisting of 10 icons with embossed braille guidelines, which include ‘power,’ ‘start and stop’ and ‘Wi-Fi.’ Available since last year at no additional cost, the stickers can be attached to all the company’s home appliances and, when linked to the LG ThinQ app, users can receive more assistance through voice guidance.
Embossed Button Remote Control
For consumers with disabilities, operating home appliances that have an abundance of buttons can be difficult, and this has become even more challenging as recent consumer electronics favor flat LED touch systems over raised buttons. To alleviate these problems for people with visual impairment, LG has created remote controls with embossed power, volume, channel and number buttons. Customers can also opt to press the ‘voice recognition button’ and operate their TV through voice commands.
‘Listen to the TV Together’
As people age, hearing loss is natural and, for older citizens who enjoy watching TV with their family, it can be difficult to set a volume that is okay for everyone in the room. While some channels provide subtitles, according to feedback from senior citizens, the experience isn’t the same without the intended audio. For customers who are hard of hearing, LG TVs are equipped with a ‘Listen to the TV Together’ feature, which simultaneously enables audio output to the TV speaker and another Bluetooth device. The company has worked to consider customers’ pain points, so people with hearing difficulties can continue to enjoy the watching experience with their loved ones.
Sign Language Expansion
In addition, LG TVs offer a ‘Sign Language Expansion’ feature, allowing people with hearing impairment to enlarge the size of the language interpreter on the screen, so they can read lips and hand signs more clearly.
Committed to creating an inclusive society where no one is left behind, LG is actively enhancing its accessibility features and accessories. Stay tuned to to hear more about how LG is contributing to creating a Better Life for All.
# # #
-
By News Reporter
With Proprietary Air Valley Technology, LG PuriCare AeroTower
Delivers Personalized Fresh Air Anywhere in the Home
SEOUL, Dec. 21, 2021 — LG Electronics’ (LG) all-in-one home air care solution designed to deliver the benefits of an air purifier, fan and heater in a stylish form factor is set to make its world debut at CES 2022. Developed from the ground up to meet the needs of today’s at-home lifestyle, the all new PuriCare AeroTower Air Purifying Fan offers personalized comfort that makes any indoor activity more pleasant and comfortable.
LG PuriCare AeroTower is ideal for year-round use, delivering pure, clean air 360 degrees in one of three airflow modes: Heating Mode, Fan Mode and Diffusion Mode. Use Heating Mode for a blast of warm air on a chilly day, up to 30 degrees Celsius maximum, capable of increasing the room air temperature by five degrees Celsius in less than 10 minutes.1 Fan Mode produces a refreshing breeze and provides customized comfort with 10 levels of airflow intensity. Diffusion Mode ensures optimal quality indoor air in any season, delivering clean, filtered air upward and outward through the Air Guard diffuser for wider, more powerful air circulation.2
Employing LG’s own Air Valley technology, the air purifier creates a canyon of air that follows a given surface. Commonly known as the Coandă effect, this results is a consistent, comfortable breeze that can be felt throughout the room. The PuriCare AeroTower’s tapered, vertical vanes are whisper quiet, only emitting 23dB of wind noise and the sleek cylindrical design offers a modern aesthetic that matches well with any type of décor. LG’s newest PuriCare model will be available in two subtle and sophisticated colors, Beige and Silver.3
LG PuriCare AeroTower comes certified by international testing agencies such as IBR Laboratories for improving indoor air quality. Multi-stage True HEPA Filters captures 99.97 percent of different types of particulates as small as 0.3 microns in size.4 An additional benefit comes in the form of LG UVnano technology which employs ultraviolet-C light to reduce the presence of bacteria that often collect on the fan.5
Along with performance and style, LG’s newest air care solution delivers exceptional convenience for its attention to the user experience. Customers can quickly check a variety of air quality data on the purifier’s bright LCD display or on the free LG ThinQ mobile app. The Android and iOS app also allows for the device to be monitored in real time and settings adjusted from outside the home.
“Our new PuriCare AeroTower Air Purifying Fan was designed with today’s home lifestyle trend in mind,” said Lyu Jae-cheol, president of LG’s Home Appliance & Air Solution Company. “Whether its cooling, heating or purifying, this device does it all and looks great while doing it.”
To experience LG’s new PuriCare AeroTower, visit LG’s virtual exhibition booth at CES 2022 starting January 5 PST.
# # #
1 Test conducted internally in 19m2 LG environmental testing center. Based on LG internal test results conducted with product models sold in Korean market. Results may vary depending on the actual usage environment.
2 Maximum airflow reach measured at 10m in Direct Mode.
3 Colors may vary by market.
4 Tested in accordance with SGS IBR Laboratories’ methodology, in compliance with IEST RP CC001.6 (2016) HEPA and ULPA filters.
5 Tested by TÜV Rheinland by comparing number of colonies of Staphylococcus aureus, Staphylococcus epidermidis, Klebsiella pneumoniae under LG UV LED for one hour at the lowest fan setting. Results may differ in real usage scenarios.
link hidden, please login to view
-
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.