Bringing a Smile to Everyone’s Face at CES 2023
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By News Reporter
In today’s fast-evolving digital landscape, technology continues to redefine how businesses engage with their audiences. To stay ahead, companies are embracing innovative content creation methods that deliver immersive, high-quality experiences, capturing attention and driving deeper engagement.
LG has taken a major leap forward in content production with the launch of its state-of-the-art virtual production studio at its North American headquarters in New Jersey, USA. A potential first in the consumer electronics industry, this in-house content lab empowers LG with advanced tools to produce premium-quality content that reflects its diverse product portfolio, emphasizing efficiency and sustainability.
At the core of the LG Virtual Production Studio is the company’s award-winning commercial LED display technology, featuring a 1.5mm pixel pitch display spanning two walls. This setup enables immersive, cost-effective and flexible content creation, complemented by cutting-edge technologies from LG’s partners, including the Megapixel HELIOS Controller and Mo-Sys Camera Tracking Solutions/Server.
Further strengthening its capabilities,
link hidden, please login to view, a leading developer of virtual production solutions and camera robotics. This collaboration seamlessly integrates LED displays and controllers with Mo-Sys’s XR technology to create a comprehensive XR solution. In the LG Virtual Production Studio, the HELIOS Controller allows multiple users to operate the Mo-Sys Camera Tracking Solutions/Server platform in real time without the need for additional software.
The studio significantly enhances production efficiency by reducing set build times. Advanced features such as parallax motion and real-time rendering enhance realism and adaptability, offering greater creative flexibility, increased content output and cost savings. Looking ahead, the studio plans to produce episodic content and collaborate with brands, further reinforcing LG’s commitment to innovative storytelling.
Beyond creative benefits, virtual production reduces the need for costly physical sets and on-location shoots, minimizing environmental impact while streamlining production workflows. This shift helps reduce environmental impact while making content creation faster and more adaptable to a variety of creative demands.
The LG Virtual Production Studio features a 25-foot, two-wall display constructed from two large 1.5mm pixel pitch LG MAGNIT Studio Series LBAG015-G3 Direct View Micro LED displays, positioned at a 90-degree angle. Despite being a compact 1,000-square-foot space – small compared to conventional studios – this setup delivers limitless creative possibilities with ultra-realistic backgrounds and seamless special effects. Unlike traditional LED displays with wider pixel pitches that require large studios to avoid visible pixels, LG MAGNIT technology enables high-quality content creation within a compact footprint.
LG’s global in-house creative agency, HSAD, plays a pivotal role in maximizing the studio’s potential, leveraging its cutting-edge tools to craft compelling narratives that resonate with diverse audiences. The establishment of this advanced studio marks a significant milestone for LG, underscoring its commitment to innovation and sustainability in content creation.
By investing in an in-house virtual production studio, LG is redefining creativity – producing high-quality content faster with less environmental impact and new levels of creative freedom.
To learn more about Studio Series LBAG015-G3 Direct View Micro LED displays, visit .
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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
Highest Annual Revenue in History With Home Appliance and
Vehicle Components Showing Growth for Eight Consecutive Years
SEOUL, Jan. 25, 2024 — LG Electronics Inc. (LG) announced its financial results for the year 2023, disclosing a consolidated revenue of KRW 84.2 trillion and an operating profit of KRW 3.55 trillion. This marks the third consecutive year of achieving record-breaking annual revenue. The operating profit is also solid, approaching levels seen during the prior period of pent-up demand.
Despite challenging external factors such as an economic slowdown and reduced demand, LG’s core business of home appliances and the burgeoning vehicle components business have demonstrated remarkable resilience, maintaining continuous growth for eight consecutive years. The combined revenue of these businesses exceeded KRW 40 trillion last year, a substantial increase from KRW 18 trillion in 2015. Over the same period, the proportion of these two businesses in the total revenue has risen from 32.5 percent to 47.8 percent.
The performance is attributable to LG’s strategic efforts to enhance its business portfolio. The company successfully expanded its B2B business by identifying market turning points early on and integrated new business models, including subscription services, into existing frameworks. Furthermore, LG’s innovative content and service business model, leveraging its extensive user base of hundreds of millions of products globally, has also contributed to securing robust profitability.
Looking ahead, LG is committed to a continual transformation from a mature business-oriented structure to a future growth-oriented one. In this year, the company will concentrate its capabilities on breaking through limits to maximize its business potential. Guided by the newly established Overseas Sales & Marketing Company, LG will strive for additional growth and expanded product coverage, particularly in emerging markets where there are greater growth opportunities.
The LG Home Appliance & Air Solution Company achieved an annual revenue of KRW 30.14 trillion, marking eight consecutive years of growth and ushering in the era of KRW 30 trillion. Introducing new business models including subscription services and expanding the B2B share in areas such as HVAC, components and built-in solutions contributed to this growth. The operating profit recorded an increase of over 76 percent compared to the previous year, reaching KRW 2.08 trillion.
In the coming year, the Company will accelerate a shift in its business model towards future readiness, including Direct-to-Consumer initiatives. It aims to expand the deployment of home appliance operating systems and extend subscription services to international markets. Additionally, there will be a swift progression in building smart home solutions that reflect the value of “Zero Labor Home.” In terms of products, the Company will seek to maintain its strategic approach of solidifying the premium leadership of key products, such as washing machines and refrigerators, while swiftly expanding region-specific lineups. To sustain continuous growth in the B2B sector, especially in areas like HVAC, the Company plans to strengthen its capabilities by establishing a complete, local business operation that encompasses product development, production and sales, with a focus on the evident electrification trends in regions such as North America and Europe.
The LG Vehicle component Solutions Company achieved an annual revenue of KRW 10.1 trillion and operating profit of KRW 133 billion. In its 10th year since establishment, the Company not only surpassed the KRW 10 trillion revenue mark but also demonstrated eight consecutive years of growth since it began disclosing performance results in 2015. The share of total consolidated revenue has increased to 12 percent. This year, the Company aims to drive both external growth, leveraging a substantial order backlog, and qualitative growth in its operations. In in-vehicle infotainment, the Company is dedicating efforts to secure capabilities in the area of software-defined vehicles in response to the needs of OEMs. Drawing upon its differentiated technology accumulated in the home appliance and IT sectors, the Company will seek to further enhance the in-vehicle customer experience. In the e-Powertrain area, focus will be on strengthening product capabilities and early stabilization of overseas production bases to enhance responsiveness to customer demands. Additionally, in headlamps, there are plans to expand premium product orders while simultaneously improving operational efficiency.
The LG Home Entertainment Company recorded an annual revenue of KRW 14.2 trillion and operating profit of KRW 362 billion. The webOS platform-based content and services business solidified its position as a new source of revenue, showing a significant increase in operating profit compared to the previous year. The revenue slightly decreased amid a relatively slow recovery in demand for premium products like OLED. In anticipation of a progressive recovery in TV demand this year, the Company will seek to strengthen both the top-tier OLED lineup and the QNED lineup, following a dual-track strategy to lead the premium market. Simultaneously, the Company is accelerating its transformation into a media and entertainment powerhouse. In the current year, the webOS platform business is slated for nurturing as a significant revenue-generating venture in the scale of trillions.
The LG Business Solutions Company recorded an annual revenue of KRW 5.4 trillion and operating loss of KRW 42 billion. The revenue saw a slight decrease compared to the previous year due to delays in IT demand recovery and reduced investments from key enterprises. Increased investments in future growth areas such as robotics and electric vehicle charging had an impact on profitability. In this year, the Company is positioning itself with a competitive lineup of IT products, including gaming monitors and the LG gram Pro, and will actively seek to find business opportunities targeting distinct verticals such as government agencies and schools. As a leader in LG’s B2B business, it 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 will be prioritized for future preparations rather than short-term management performance.
Earnings Conference and Conference Call
LG Electronics will hold a Korean / English conference call on January 25, 2024, at 16:00 Korea Standard Time (07:00 GMT/UTC). Conference call participants are instructed to pre-register online to receive a private PIN. To participate in the conference call, dial +82 31 810 3130, enter passcode 6418# and then the PIN. The corresponding presentation file will be available for download at the LG Electronics website before the call.
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By News Reporter
Unveiled globally as a pivotal step in LG’s brand reinvention, the ‘Life’s Good with Optimism’ campaign is a vibrant celebration of a rejuvenated brand persona. Presenting a more dynamic and youthful brand identity, it encourages customers to approach life with optimism amid global uncertainty. LG has passionately aspired to share the revitalised brand philosophy and personify the essence of Life’s Good, while empowering people to find positivity in their everyday lives.
Following the
link hidden, please login to view, LG Australia celebrated the campaign with a series of media activities and a celebration with employees at its new Australian offices in Parramatta, Sydney. The company showcased how the recognisable Life’s Good slogan, first coined in Australia in 1999 as a reflection of the Aussie zest for life, inspires the next generation to embrace life with bravery.
LG collaborated with campaign ambassador and renowned musician turned athlete , whose journey embodies the characteristics of brave optimism, overcoming challenges and defying expectations. Ahead of the celebrations, Cody Simpson spoke with Channel 7 Sunrise and News Corporation about the campaign and his story of being an ambassador and approaching life with positivity, in a bid to carve his own path. Sunrise ran a week-long LG product giveaway with the LG StanbyME, LG TONE earbuds and LG gram – innovations that align with the wants and needs of young Australians.
Prior to his interview, Cody participated in an inspiring panel discussion at the Life’s Good with Optimism celebratory, hosted at LG’s new Australian office. Livestreamed from his training pool on the Gold Coast in Queensland, Australia, Cody was joined by author and artist Emma Carey and LG Australia Marketing Director, Gemma Lemieux, for a discussion about optimism and positivity, facilitated by Australian media personality and Sunrise consumer correspondent Shaun White.
Discussing what is behind the campaign in Australia with Gemma Lemieux, Cody and Emma shared pivotal moments where embracing optimism set them on a path to lead better lives. Media, influencers and LG Australia employees around the country listened to the panel both in person and virtually, where Cody shared more about his late-in-life career change, while Emma talked about her journey of learning to walk again after falling 14,000 feet (about half the height of Mount Everest) in a skydiving accident.
Meanwhile, a Life’s Good reporter circled the local Parramatta area and the LG office interviewing consumers and employees on camera to better understand and uncover what locally are the sources of happiness and optimism for the future.
The Life’s Good with Optimism campaign was not complete without celebrating LG Australia’s employees. Upon arrival to the office, each staff member was greeted with a heart-shaped cookie and at their desk, a red candy apple awaited featuring an optimism affirmation and a red heart-shaped balloon.
In a bid to reiterate the brand-love employees have for LG, they were invited to complete the ‘Optimism Tour’, taking part in a series of activities for their chance to win prizes. From playing giant jenga and shooting a hole-in-one at mini putt-putt to capturing a photo for the ‘Life’s Good Mosaic Mural’ and taking on a colleague in a game of ping-pong, employees had the chance to let their hair down and truly experience Life’s Good.
LG’s Life’s Good with Optimism campaign activation reflected the company’s commitment to positivity, inspiring individuals in Australia and around the world, and creating meaningful influence in challenging times.
To read more about LG’s Life’s Good campaign, visit .
Contributed by LG Australia
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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.
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