LG Electronics announced its confirmed results for the third quarter on Oct. 24, revealing a complex financial landscape marked by record sales but a significant drop in operating profit. The company reported consolidated sales of 22.1764 trillion won, a 10.7% increase compared to the same period last year and a 2.2% rise from the previous quarter. However, operating profit fell by 20.9% year-on-year to 751.9 billion won, primarily due to increased logistics and marketing costsThe Home Appliance & Air Solution (H&A) Business Division recorded sales of 8.3376 trillion won and an operating profit of 527.2
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LG Electronics Unveils STEM Refrigerators with Direct Water Line for Ice and Purification
LG Electronics is introducing a new refrigerator brand called STEM that directly connects to a water line to produce purified water and ice. The company plans to expand the STEM lineup to more than half of its premium French-door refrigerator models and position it as a driving force for its appliance subscription service.
The STEM refrigerators address user complaints associated with traditional ice makers that require manual water refilling and cleaning of the water tank. By directly channeling water through a dedicated line, STEM enhances hygiene while offering options like craft ice, cube ice, mini cubes, and crushed ice.
The brand name, derived from the word “stem” representing how plants transport water and nutrients, symbolizes the delivery of clean water and ice through the direct water line. STEM models come in two variants: with and without a water dispenser Equipped with an AI Energy-Saving Care system, the refrigerators learn usage patterns and maintain consistent temperatures by adjusting to concentrated cooling modes during peak usage times, such as mornings when doors are frequently opened.
Through the LG ThinQ app, an Energy Saving Mode powered by AI will be added later this year, further exemplifying LG’s commitment to upgradeable appliances.
The UV Nano feature automatically disinfects the water dispenser nozzle with UV LED lights every hour for 10 minutes. A three-stage purification filter reduces nine types of heavy metals and fine particles while removing bacteria like E. coli and viruses that can cause food poisoning, such as norovirus.LG Electronics plans to expand the STEM lineup to more than half of its premium French-door refrigerator models. The company aims to accelerate its appliance subscription service using STEM as a key offering. Subscribers will receive periodic visits from care managers who will clean the refrigerator, perform maintenance checks, and replace consumables like filters. Complimentary repairs are covered throughout the subscription period, or customers can opt to purchase the product outright and subscribe only to the care service.
Currently, LG Electronics offers subscription plans for 21 product categories, including water purifiers, refrigerators, ice and water dispensers, kimchi refrigerators, air conditioners, washing machines, washer-dryer combos, and TVs.
LG EXPANDS AVAILABILITY OF ITS CLOUOR-CHANGING REFRIGERATORS IN EUROPE
LG Electronics (LG) announces the launch of its advanced InstaView fridges with MoodUP in France. The company hosted a grand picnic on Paris’s iconic Champs-Élysées on May 26 to celebrate the release of two LG InstaView™ with MoodUP™ lineups in France
Following launches in Spain, Germany and Italy and now France, LG has augmented its outstanding range of InstaView refrigerators with MoodUP with a new bottom freezer – a model that is highly popular among customers throughout Europe. Offering a smart and customizable culinary experience, the company’s color-changing refrigerators are ideal for those who want to express their mood and personal taste in the kitchen.
LG Electronics reports profitable 2023
LG Electronics Inc. (LG) achieved a consolidated revenue of KRW 84.2 trillion and an operating profit of KRW 3.55 trillion in 2023. This marks the third consecutive year of record-breaking annual revenue, despite challenges like an economic slowdown and reduced demand.
LG’s core businesses, home appliances, and vehicle components, displayed resilience, maintaining continuous growth for eight consecutive years. The combined revenue for these segments exceeded KRW 40 trillion, a substantial increase from KRW 18 trillion in 2015, now constituting 47.8% of the total revenue..
LG’s Washer for Tumbler
LG Electronics (LG) is set to unveil its innovative tumbler washer, LG mycup, at CES 2024. This unique cleaning solution features state-of-the-art technology to enhance the daily hygiene of tumbler users, while its sophisticated design embodies LG’s commitment to environmental sustainability. With the increasing number of eco-conscious consumers using tumblers, LG mycup simplifies the cleaning process and encourages the regular use of reusable cups and tumblers.This practical washer lets users clean one tumbler at a time by simply placing it inside and selecting from two cleaning courses – Quick Wash and Extra Wash – through the LG mycup app. The cleaning process is then conveniently displayed on the upper display panel to let users check wash status and receive an app notification when the cycle is complete.
Both courses utilize a 65-degree Celsius hot water cycle to ensure thorough and sanitary cleaning. By employing bubble jet technology, the Quick Wash course cleans the inside of the tumbler in just 30 seconds. And for the thorough cleaning and drying for harder-to-clean residues like dairy, the Extra Wash course utilizes an integrated air-drying design to clean and gently dry the tumbler with a multi-directional water jet and powerful hot air.
LG Neochef
LG Electronics presented the new microwave oven from the LG Neochef line (model MH6535GISA) with an ash blonde color. At a technological level, the Smart Inverter Technology keeps the microwave emission constant, guaranteeing a stable temperature and consequently homogeneous cooking. Furthermore, this technology defrosts food evenly and quickly. The oven has numerous programs such as grill cooking and the fermentation function which allows user to prepare yogurt. Finally, the new model, which offers 25 liters of capacity, is equipped with the LG Infrared Heating System which uses infrared light to obtain a higher temperature in less time
LG DUOBO
LG Electronics (LG) is set to unveil its first-ever capsule coffee machine, DUOBO by LG Labs. LG Labs is LG’s new marketing platform established to deliver experimental and innovative product and service experiences to its customers. DUOBO revolutionizes the coffee brewing process with features and technologies that deliver outstanding convenience and delicious, personalized flavor.
DUOBO’s dual-capsule extraction system allows for two-shot layered blending, making it possible for users to create and savor their own distinctive blends. Simple control is provided by the DUOBO mobile app, which lets users precisely adjust temperature and pressure to their individual preferences. The new product by LG Labs is compatible with coffee capsules from various brands, offering a wide range of strengths, roasts and flavors for users to match, blend and make their own.
LG Labs proudly presents DUOBO, a truly exceptional product that combines innovation with a captivating design. Drawing inspiration from the wonders of space exploration, DUOBO’s sleek and elegant appearance resembles a space probe, embodying our vision of discovering new and intriguing flavors, including the concept of a “taste of space.” In a nod to history, DUOBO was launched on July 20, commemorating the momentous occasion of Apollo 11’s first moon landing in 1969.
One of DUOBO’s standout features is its integrated full HD IPS display, applied at the space where coffee cups are placed during the extraction process. This display adds an extra layer of enjoyment, providing users with access to a variety of engaging content such as DUOBO exclusive animations and coffee-related information. It creates a truly immersive coffee brewing experience that is both delightful and informative.
To showcase the remarkable features of DUOBO, LG Labs teamed up with six of the world’s top baristas, including previous winners of the prestigious US Barista Championships. At an event held at The Lost Draft café in New York’s fashionable Soho district, a captivated audience looked on as the skilled baristas demonstrated the ease of using DUOBO, created delightful blends and discussed the unique benefits of LG’s dual-capsule system.
“DUOBO is truly an innovative product, redefining the entire coffee experience from the art of crafting and savoring the perfect cup to establishing meaningful connections with our valued customers,” said Lee Hyang-eun, managing director of the Customer Experience Innovation Division at LG Electronics. “With our unwavering commitment to excellence, we will strive to offer unparalleled customized solutions that cater specifically to each individual’s preferences, ensuring a personalized and delightful coffee journey where customer participation plays a vital role.”
A futuristic capsule-based coffee machine, DUOBO by LG Labs is available for crowdfunding on Kickstarter starting July 20. Coffee aficionados and early adopters can save 50 percent with the limited Super Early Bird deal offered exclusively on Kickstarter. To learn more about DUOBO, visit http://www.official-duobo.com
LG Showcases Portfolio of Advanced Home Appliances With “Life on the UP” at KBIS 2023
LG Electronics (LG) is presenting its state-of-the-art kitchen and living appliance lineups at the 2023 Kitchen & Bath Industry Show (KBIS), taking place at the Las Vegas Convention Center in Las Vegas, Nevada, USA, from January 31 to February 2.
Under the theme of ‘Life on the UP,’ LG’s exhibit showcases the modern design and advanced technology of the company’s latest appliances while highlighting the personalized convenience they provide through the addition of ThinQ UP and ThinQ Care features – now available on LG’s premium built-in lineups for the very first time. Featuring eight unique zones, LG’s booth explores diverse consumer lifestyles and aesthetics with each zone representing a different, well-known American city, location or landmark, and each displaying a selection of new, cutting-edge LG appliances.
Visitors to KBIS 2023 can discover the latest premium kitchen solutions from luxury built-in brands, Signature Kitchen Suite and LG STUDIO, both of which offer the refined design and personalization options that today’s consumers want for their homes. The new Signature Kitchen Suite 48-inch built-in refrigerator comes in stainless steel or panel-ready option and boasts Signature Fit™ Integrated Design; enabling a seamless match with any interior décor and giving customers the choice of proud or flush installation.
Also on show at KBIS is LG’s new Signature Kitchen Suite 36-inch gas cooktop. The impressive appliance features five, powerful brass burners totaling 67,500 BTUs – including a 24,000-BTU* Ultra-High™ dual burner with a convertible wok grate – which is the most of any cooktop in the luxury kitchen category. Additionally, the new cooktop is available with an easy-to-clean porcelain-coated cooking surface, while the LG STUDIO kitchen package now offers customers an elegant, new handle color – rose gold – to choose from.
For hassle-free cleanup, the Signature Kitchen Suite’s PowerSteam® dishwasher can complete a full cycle in less than one hour thanks to LG’s QuadWash™ Pro and Dynamic Heat Dry™ technologies, the latter of which circulates hot air throughout the appliance’s interior. The sleek, stainless steel dishwasher, which has ‘hidden’ controls located on top of its door, uses TrueSteam® to help remove caked-on food and reduce water spots, while QuadWash Pro uses high-pressure jets of water to clean dishware from multiple angles.
LG is also exhibiting its personalized living solutions at this year’s show, with ThinQ UP appliances such as the latest washer and dryer pair, a new minimalism concept kitchen appliances lineup, and lastly, the new MoodUP™ by LG STUDIO – a fridge with color-changing door panels (23 colors available for the upper panel and 19 for the lower) that can be easily controlled via the LG ThinQ app. ThinQ UP, which enables users to continuously upgrade their appliances with additional features, will soon be coming to LG’s built-in appliances – including the Signature Kitchen Suite and LG STUDIO lineup – as will ThinQ Care features designed to help users protect and get the most out of their LG solutions.
What’s more, LG is presenting entertaining events at the show to allow visitors to experience its products and brand values first-hand. In the Las Vegas-themed zone of the company’s booth, Signature Kitchen Suite chefs, Nick Ritchie from Napa Valley and Austin Kang from Seoul, are giving cooking demonstrations using Signature Kitchen Suite appliances to prepare delectable treats for attendees. LG is also hosting an exclusive party in its booth’s New York-themed zone on the evening before KBIS 2023 opens. Along with music and a colorful LED lighting display provided by the customizable MoodUP™ by LG STUDIO, guests will be able to enjoy delicious desserts made using the ultra-convenient Scan to Cook feature on LG STUDIO cooking appliances.
“At KBIS 2023, we will introduce the exceptional, personalized experience offered by our ultra-premium built-in appliances and ThinQ UP,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “LG will continue to deliver smart, stylish kitchen and living solutions designed to enhance consumers’ homes and daily lives.”
Visitors to LG’s booth (West Hall #3045, Las Vegas Convention Center) at KBIS 2023 will have the opportunity to experience the full portfolio of LG kitchen and living appliances.
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LG Home Appliance Factory in United States Latest to Receive Prestigious ‘Lighthouse’ Status
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January 16, 2023
LG Home Appliance Factory in United States Latest to Receive Prestigious ‘Lighthouse’ Status
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LG Electronics Tennessee Plant is Selected as Industry’s First U.S.
Home Appliance Lighthouse Factory by World Economic Forum
LG Electronics’ (LG) home appliance manufacturing plant in the United States has been selected as a world-leading Lighthouse Factory by the .World Economic Forum (WEF)
The million-square-foot factory in Clarksville, Tennessee – the U.S. production base for LG’s award-winning washers and dryers – is the industry’s first home appliance plant in the United States to join the WEF’s global network. Also, it is the company’s second Lighthouse Factory, following on the heels of the LG Smart Park in Changwon, South Korea, which was selected by the WEF last year.
A “Lighthouse Factory” is recognized by the WEF for its role in shaping the future of manufacturing through the integration of Internet of Things (IoT), big data, artificial intelligence (AI), robots and other Fourth Industrial Revolution technologies. Since 2018, the WEF has selected and added global factories to its network twice a year.
LG’s world-class autonomous factory in Tennessee utilizes advanced digital technologies from AI and big data to IoT and robots. Completed at the end of 2018, the facility now operates three production lines for front-load and top-load washing machines and dryers. With an annual production capacity of 1.2 million washers and 600,000 dryers, the plant proactively responds to changing North American demand through local production. More than 900 people work at the LG home appliance factory in Montgomery County, Tenn.
Featuring a complete integrated production system streamlined process to supply impeccable products to customers on time, each line carries out the entire manufacturing process of new models from making the parts to assembly and packaging. In addition, strict quality conditions are applied to all the assembly lines to heighten quality across the board, from parts to finished products.
The LG Tennessee factory boasts a fully autonomous logistics system with 166 automated guided vehicles (AGVs) that transport parts around the plant. With three times more AGVs than the LG Smart Park, these robots improve overall productivity by freeing up people for other tasks.
With the integration of parts production such as metal press processing, plastic injection molding, and painting – including LG’s own intelligent injection molding system – the company has increased component productivity by 21 percent.1 In addition, the plant recognizes and responds in advance to potential productivity issues through an advanced detection system. By applying data-based AI technology that accurately predicts washing machine performance, the number of tests and energy consumed during testing are reduced by 22 percent, while the defect rate has been reduced by more than 61 percent via quality optimization.2
The plant is also maximizing workplace safety and operational efficiency by using robots for complicated, potentially dangerous tasks, such as assembling and lifting heavy parts and welding.
To further improve efficiency, LG plans to establish a 5G connectivity network across the facility in the second half of this year, creating an environment where its many AGVs can transport materials faster and more accurately based on stable, uninterrupted communication. LG will also introduce Autonomous Mobile Robots that navigate the expansive facility with ease to enhance its logistics system.
LG’s commitment to sustainability can be seen throughout the Tennessee factory, which transitioned to renewable energy completely already in 2022. The plant also uses a high-efficiency utility infrastructure, which supplies the power, steam and heat necessary to produce LG’s home appliance products with the help of the company’s advanced Building Energy Control (BECON) solution.
“Along with the LG Smart Park, LG’s Tennessee factory represents our unmatched leadership in transforming manufacturing facilities into advanced, futuristic hubs utilizing the most revolutionary technologies,” said Lyu Jae-cheol, president of the LG Electronics Home Appliance & Air Solution Company. “Lighthouse Factory status exemplifies how LG continues to strive for providing differentiated customer experiences through customized manufacturing innovations
LG announced third-quarter 2022 financial results,
LG announced third-quarter 2022 financial results, reporting revenue of KRW 21.2 trillion and operating profit of KRW 746.6 billion
.LG Electronics’ home appliance business unit contributed 228.3 billion won in operating profit, a significant drop from last year which it attributed to marketing and logistics costs
