LG Record Revenue

LG Electronics Records Highest Quarterly Revenue in Company History

The LG Home Appliance & Air Solution Company generated first-quarter sales of Ksh 766.13 billion with an operating profit of Ksh 43.01 billion. Sales increased 18.8 per cent from the same quarter last year, recording the business unit’s highest quarterly revenue. Stable growth was driven largely by strong performance in premium appliances and new categories such as hygiene products applied with steam technology. The appliance business expects to see continued growth by expanding overseas sales in new appliance categories.

LG Electronics Introduces A New Lineup Of Home Appliances For Indian Consumers In 2022

The new lineup consists of Smart Appliances with AI TechnologyNew range with stylish design & smart features aims to make consumer lives comfortable & convenientLaunches 270+ models across categories Stunningly Stylish Refrigerators – InstaView Door-in-Door™ and Frost Free Refrigerators, AI Direct Drive Washing Machines, Puricare™ Wearable Air Purifier, VIRAAT Air Conditioners, UV+UF Water Purifiers and a new range of Charcoal Microwaves new products have inbuilt features like hygiene fresh in Refrigerator, inbuilt heater in washing machines for allergen care which cater to healthy living. 2022 LG Home Appliances’ latest product range including Insta View Refrigerator, new product categories like Wearable Air Purifier, AI DD Washing Machine and Dual Inverter Air Conditioner are the perfect example of great technology and stylish design. We are confident our consumers will appreciate the better and healthier lifestyle these products will offer. We aim to further strengthen our market leadership with this product portfolio.”

LG has revolutionized the design of the 2022 range of LG Side-by-Side and Frost Free Refrigerators to elevate the user experience and add elegance to the kitchen. With a new flat design and loaded with metallic decorations, the new refrigerators are minimal yet sophisticated.

The new range of Frost Free Refrigerators is equipped with E-micom, users can conveniently control the temperature settings without opening the door, significantly reducing the cold air loss. With the LG ThinQ, users can control key features and access the appliance remotely from anywhere. The latest LG refrigerators also come with Smart Learner powered by AI, which analyses the usage pattern of the refrigerator and optimizes cooling accordingly. With the help of various algorithms, the latest range of LG refrigerators monitors the hourly, daily and weekly data to deliver higher energy efficiency and long-lasting freshness for fruits and vegetables.The new InstaView Side-By-Side Refrigerator now has a 23% Bigger InstaView Window for a wider view of what’s inside. Simply knock twice on the tinted glass and it will illuminate the inside of the refrigerator – letting the users quickly access your favourite foods & beverages. The New Dispenser with UVnanoTM keeps the nozzle of the dispenser clean regularly. It automatically reduces 99.99#% of bacteria from the water nozzle with UV Light so that users can get clean, fresh water every time.

The Frost Free Refrigerators also come equipped with an all-new powerful Hygiene Fresh air filter. As confirmed by TUV Rheinland, this latest technology not just eliminates up to 99.99#% of bacteria but also deodorizes and purifies the air inside.

Further, the new refrigerators are packed with features such as DoorCooling+™ to ensure quicker cooling than a conventional system and prolonged freshness of the stored food items. LG’s exclusive DoorCooling+™ technology significantly reduces the temperature gap between the inner part and the door side of the compartment with dedicated vents at the door side that allows effective cooling of the beverages kept on the door shelves.

LG has launched Air Conditioners Powered by AI Technology. The latest range of air conditioners will come with multiple in-built sensors and a superior varied speed dual rotary compressor giving optimal cooling by automatically analyzing the inputs from the sensors.To provide consumers with a comfortable yet hygienic experience, LG has introduced PuriCare Wearable Air Purifiers, which are equipped with a set of HEPA Filters, Dual Fans, Voice ON, IPX4 technology, and much more. The Wearable Air Purifier is an innovative solution for breathing clean and pure air without any hassles. LG urges consumers to go wearable, go digital and go in style with the seamless and ergonomic design of the LG PuriCare Wearable air purifier. These sustainable Wearable Air Purifiers are the perfect easy-to-use solution for pure and clean air throughout the day.

LG AI Direct Drive Series in Front Load & Top Load Washing Machine is equipped with AI Direct Drive Technology and LG ThinQ which gives better wash performance and makes washing convenient for customers. The AI feature in washing machines can recognize fabric type, weight and chooses optimal wash patterns for better wash performance and fabric care. The Front Load has Direct Drive Motor with 6 Unique motions that enhances the overall wash performance and leads to less vibration and noise along with a bigger Drum capacity for heavy loads like curtains, sofa cover & bed sheets etc.

The New Top Load Washing Machine range uses the best-in-class TurboWash feature with the TurboDrum™ to help save time, energy, and water while protecting their clothes and lowering their carbon footprint. It also comes with an In-Built Heater to reduce the allergens and bacteria from the clothes, improving the overall hygiene
LG Healthy Microwave Oven boast as India’s only Microwave oven with Charcoal Lighting Heater and Healthy Heart™ Autocook Menu which offers a healthier and versatile cooking experience for the customers while retaining natural flavours and nutrition. LG Microwave Oven NeoChefTM series allows powerful & precise control up to (1200W), which ensures faster and more even cooking performance, unlike other Microwave Ovens. LG Microwave Oven comes with 401 Auto Cook Menu feature in the largest range, the DietFry™ feature lets up to 88^^% less usage of oil is a perfect treat for the health-conscious.

LG’s complete Range of Water Purifier are equipped with stainless steel storage tank, and customer also gets an Assured Maintenance Package under which the cleaning of the water purifier is done digitally with a Digital Sterilization Kit. The water purifier comes with an Enhanced water recovery feature, recovering More than 60**% water. Expanding the health and hygiene portfolio, LG recently launched its first UF+UV Water Purifier. LG’s UF+UV Water Purifier comes with a heavy metal removal filter that removes 7 Heavy Metals and Virus Clean + Filter.

LG Matt Black dishwasher is the latest addition to its dishwasher range. Equipped with True Steam ® and Quad Wash feature, the latest model ensures sparkling clean dishes from every angle. Inverter Direct Drive gives quiet, efficient yet reliable performance. Easy RackTM Plus adds convenience by cleaning various kinds of utensils at one go also it is LG ThinQTM enabled.

LG factory

World Economic Forum Recognizes LG for Innovative Digital Transformation of Its Home Appliance Manufacturing Facility in South Korea   LG Smart Park, a production base of LG Electronics (LG), has been selected as a Lighthouse Factory by the World Economic Forum (WEF).

Shaping the future of manufacturing, WEF “Lighthouse” facilities implement Fourth Industrial Revolution technologies, such as the Internet of Things, big data, artificial intelligence and robots, into manufacturing and supply chain operations to deliver a wide range of benefits, from increased production efficiency to enhanced environmental sustainability.

LG Smart Park, LG Electronics’ home appliances factory in Changwon, Republic of Korea

‘Digital twin’ technology enables the operation system to analyze the production processes in virtual reality.

Refrigerator door attachment based on 3D vision recognition technology

Overhead conveyor system

“As the world grapples with many challenges, it is remarkable to see how Lighthouses are yielding sustainability benefits while achieving business goals, which we call eco-efficiency,” said Francisco Betti, Head of Shaping the Future of Advanced Manufacturing and Value Chains, World Economic Forum. “We need them to continue illuminating the way forward for the global manufacturing community by shaping a responsible future of manufacturing that works for people, society and the environment.”

Over the past five years, LG has transformed its factory complex in Changwon, South Korea into LG Smart Park, a futuristic hub of home appliance manufacturing. The key elements of the transformation are a digitally-enabled end-to-end three-dimensional logistics system, an advanced analytics system based on edge computing technology and machine learning that predicts defects, and state-of-the-art facilities that can mass-produce multiple models to respond flexibly to customer requirements.

The newly implemented “digital twin” technology enables the operation system to analyze production processes in virtual reality. It can predict if any issues will occur within the next 10 minutes and provide exact parts and materials for the assembling of each appliance with an accurate, up-to-the-minute status of the facility’s logistics operations. Sensors utilizing deep learning technology are installed throughout the factory to monitor each phase of production in real-time, helping factory workers to preemptively identify and resolve any possible issues. As a result, the cost of defective product returns dropped by 70 percent from 2020 to 2021 while overall quality competitiveness[1] and production efficiency[2] were both significantly strengthened.

Floors one, two and three at LG Smart Park employ an overhead conveyor system that quickly transports boxes containing refrigerator parts to the required production lines. Attached to each line is an intelligent warehouse that monitors inventory in real-time, enabling automated materials management, including the request of additional parts and supplies.

On the ground, automated guided vehicles (AGVs) leveraging stable 5G network connectivity transport parts and materials to wherever they are needed on site. Through its three-dimensional logistics automation system, the company can minimize the amount of warehouse space needed by 30 percent compared to conventional logistics systems, and shorten the time required for hourly materials transportation by 25 percent.[1]

LG Smart Park has also adopted the use of robots featuring an AI engine and camera to make the home appliance production process faster and safer. The robots undertake dangerous and complicated tasks, such as welding and the lifting of heavy parts and equipment.

LG plans to apply the innovative, smart production technologies pioneered at LG Smart Park to a total of 26 LG production facilities in 13 countries, accelerating the digital transformation of its global manufacturing network by 2025.

“LG Smart Park illustrates our strong commitment to adopting the revolutionary technologies as the leader of the global premium home appliance market,” said Lyu Jae-cheol, president of the LG Electronics Home Appliance & Air Solution Company. “We are presenting a blueprint for the future of manufacturing, one that delivers better outcomes across environmental, economic and employment aspects.”

For more information, please visit https://www.lgnewsroom.com/2022/03/lg-smart-park-named-lighthouse-factory-for-futuristic-manufacturing-technology/ 

[1]  Comparing the figures from the year 2020 to 2021 according to the lighthouse site visit report by World Economic Forum.

[2]  Units produced per hour has increased by 17 percent, comparing the year from 2020 to 2021 according to the lighthouse site visit report by World Economic Forum

About LG Electronics Home Appliance & Air Solution Company

The LG Home Appliance & Air Solution Company is a global leader in home appliances, smart home solutions, air solutions as well as visionary products featuring LG ThinQ AI. The company is creating various solutions with its industry leading core technologies and is committed to making life better and healthier for consumers by developing thoughtfully designed kitchen appliances, living appliances, HVAC and air purification solutions. Together, these products deliver enhanced convenience, superb performance, efficient operation and compelling health benefits.
 

SOURCE LG Electronics,

LG halts all shipments to Russia

LG is joining other tech heavyweights in halting Russian sales following that country’s invasion of Ukraine. The company said in a statement it was “suspending” all product shipments to Russia. The firm didn’t say how long this would last, but noted it would keep a “close watch” on the situation. LG is “deeply concerned” about everyone’s welfare and “committed” to humanitarian relief, according to the notice

LG@KBIS

Positioned as a leading integrated solutions provider for homebuilders, LG Electronics USA is taking a key role at Design & Construction Week®  held in conjunction with the 2022 International Builders’ Show (IBS) and Kitchen and Bath Industry Show (KBIS). LG’s booth features selections from what is arguably the broadest portfolio of award-winning home appliances and smart home innovations that cater to the dynamic homebuilder market.

LG is reinventing the laundry room with the sleek, intelligently designed LG WashTower and Styler so that homeowners can save space while getting the best in fabric care.

Signature Kitchen Suite’s industry-first appliances provide restaurant quality results for at-home chefs.

LG’s energy-efficient heating and cooling solutions are ideal for keeping your home comfortable in any climate.

With the LG ThinQ app, homeowners can have peace of mind knowing they can control and monitor their appliances remotely.From luxury built-in and functional kitchen packages to a wide assortment of premium laundry innovations to advanced HVAC and energy solutions, LG technologies on display at IBS/KBIS 2022 address builder trends for smarter, healthier and greener living.

LG’s presence at Design & Construction Week 2022 is being led by LG Builder, a special division of LG Electronics USA that is focused on bringing an array of connected home appliances and exclusive product offerings to design and building professionals. LG Builder extends LG’s trademark reliability, innovation and value to the builder, remodeler and designer communities. At Design & Construction Week, LG is displaying new ENERGY STAR® certified home appliances across three diverse brand portfolios – LG, LG STUDIO and Signature Kitchen Suite:

The fast-growing Signature Kitchen Suite brand reflects LG’s commitment to producing the industry’s best built-in luxury appliances with leading-edge technology, enabling “Technicurean™” home chefs to prepare and preserve food in the best possible ways. New for 2022 is the industry-first 48-inch French Door Refrigerator featuring a functional and innovative convertible drawer with five preset temperatures ranging from 41⁰F to -6⁰F to allow for precise food preservation. Also new for the brand is ThinQ Care, a customer care service that alerts owners of potential problems to smart appliances before they occur and offers useful maintenance tips to keep SKS appliances performing their best.

Appliances under the famous LG brand offer builders unique features, cutting-edge technologies and stylish designs. Noteworthy 2022 kitchen products include redesigned InstaView™ side-by-side refrigerators featuring a water dispenser that incorporates LG’s UVnano™ sanitizing technology, a new InstaView Double Oven Slide-In Gas Range with multi-functional cooking features like Air Sous Vide and Air Fry along with ProBake Convection.® LG is bringing two new ENERGY STAR laundry solutions to the LG 2022 HOME APPLIANCES, HVAC AND ENERGY SOLUTIONS LEAD SMARTER, HEALTHIER, GREENER BUILDING TRENDS

Featured at Design & Construction Week, LG’s Integrated Approach Combines Connectivity, Efficiency

NEWS PROVIDED BY

LG Electronics USA 

Feb 07, 2022, 21:08 ET

ORLANDO, Fla., Feb. 7, 2022 /PRNewswire/ — Positioned as a leading integrated solutions provider for homebuilders, LG Electronics USA is taking a key role at Design & Construction Week®  held in conjunction with the 2022 International Builders’ Show (IBS) and Kitchen and Bath Industry Show (KBIS). LG’s booth features selections from what is arguably the broadest portfolio of award-winning home appliances and smart home innovations that cater to the dynamic homebuilder market.

LG is reinventing the laundry room with the sleek, intelligently designed LG WashTower and Styler so that homeowners can save space while getting the best in fabric care.

Signature Kitchen Suite’s industry-first appliances provide restaurant quality results for at-home chefs.

LG’s energy-efficient heating and cooling solutions are ideal for keeping your home comfortable in any climate.

With the LG ThinQ app, homeowners can have peace of mind knowing they can control and monitor their appliances remotely.

From luxury built-in and functional kitchen packages to a wide assortment of premium laundry innovations to advanced HVAC and energy solutions, LG technologies on display at IBS/KBIS 2022 address builder trends for smarter, healthier and greener living.

LG’s presence at Design & Construction Week 2022 is being led by LG Builder, a special division of LG Electronics USA that is focused on bringing an array of connected home appliances and exclusive product offerings to design and building professionals. LG Builder extends LG’s trademark reliability, innovation and value to the builder, remodeler and designer communities. At Design & Construction Week, LG is displaying new ENERGY STAR® certified home appliances across three diverse brand portfolios – LG, LG STUDIO and Signature Kitchen Suite:

The fast-growing Signature Kitchen Suite brand reflects LG’s commitment to producing the industry’s best built-in luxury appliances with leading-edge technology, enabling “Technicurean™” home chefs to prepare and preserve food in the best possible ways. New for 2022 is the industry-first 48-inch French Door Refrigerator featuring a functional and innovative convertible drawer with five preset temperatures ranging from 41⁰F to -6⁰F to allow for precise food preservation. Also new for the brand is ThinQ Care, a customer care service that alerts owners of potential problems to smart appliances before they occur and offers useful maintenance tips to keep SKS appliances performing their best.

Appliances under the famous LG brand offer builders unique features, cutting-edge technologies and stylish designs. Noteworthy 2022 kitchen products include redesigned InstaView™ side-by-side refrigerators featuring a water dispenser that incorporates LG’s UVnano™ sanitizing technology, a new InstaView Double Oven Slide-In Gas Range with multi-functional cooking features like Air Sous Vide and Air Fry along with ProBake Convection.® LG is bringing two new ENERGY STAR laundry solutions to the homebuilder market – a new washer and dryer featuring Artificial Intelligence DD and SmartPairing technology, and new LG WashTower™ that features Dual Inverter Heat Pump technology to reduce energy consumption.

The suite of innovative and design-driven products under the LG STUDIO label is made to work hard and look good. LG STUDIO kitchen appliances feature slide-in and built-in options with exclusive features and premium finishes for those looking to show off their style. New for 2022 is the LG Studio InstaView 6.3-cubic-foot range that offers multifunctional cooking with Air Fry, Air Sous Vide and Pro Bake Convection. The InstaView window let users check cooking progress without opening the door or reaching over a hot cooktop to flip a switch; all they have to do is knock twice on the glass panel.




LG Electronics edges out Whirlpool for top household appliance-maker title

LG Electronics recorded an all-time high of 74 trillion won in sales last year, surpassing US electronics giant Whirlpool to become the world’s top producer of home appliances.

LG Electronics announced on Thursday that it made an operating profit of 3.86 trillion won by generating a total of 74.72 trillion won (approximately US$61.9 billion) in revenue last year. Sales rose 28.7% year-on-year, but operating profit fell 1.1%.

This is the first time that LG Electronics’ annual sales exceeded 70 trillion won. The company attributed its record figures to “strong sales of premium home appliances and OLED TVs,” adding that “about 60% of sales, or 44 billion won, came from LG’s home appliance and air solution and home entertainment divisions.”

The company’s home appliances and home entertainment divisions greatly helped in protecting business profits. The two areas recorded operating profits of 2.22 trillion won and 1.99.8 trillion won, respectively.

However, even though 2021 fourth-quarter household appliances sales reached 6.52 trillion won, operating profit topped out at 157.1 billion won. Sales were highest in the fourth quarter, but operating profit was down 44.8% compared to the same period in 2020.

“Increases in costs due to an increase in raw material prices and an increase in logistics costs played a major role,” LG explained.

Whirlpool, on the other hand, announced that it had recorded $21.98 billion in sales last year. Whirlpool is an American electronics company that has competed with LG Electronics for the No. 1 spot in the global home appliance market. If calculated in won, Whirlpool’s total sales last year came to around 25 trillion won — 2 trillion won less than LG Electronics’ household appliances sales of 27 trillion won in 2021

LG Sets New Paradigm With Upgradable Home Appliances

LG Electronics (LG) is set to change the existing paradigm of home appliance usage with an upgradability option that adapts to the unique and changing lifestyles of customers. Developed under the concept, Evolving Appliances For You, LG upgradable appliances have the capability to incorporate new features developed in the future based on owners’ usage patterns and habits.What upgradability brings to the table is the ability to add a new function or convenience to an existing appliance through new software, new hardware or both. For example, users can improve the performance of the LG PuriCare air purifier when a new pet joins the family by upgrading with the Pet Care Filter to more thoroughly filter out pet fur and dander from the air. [1] Upgradable LG dryers can be enhanced later on to handle different climates and fabrics with new accessories and software downloadable from the Upgrade Center in the LG ThinQ app.

For the customer, upgradability enables the LG appliance to keep up with changing trends and usage patterns over the many years of that product’s lifespan, extending usefulness many times over. In all, LG is planning to introduce approximately 20 upgradable appliances this year. [2]

“Upgradeability challenges the idea that expensive appliances are designed with planned obsolescence in mind,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “We want customers to experience the feeling of getting a new washer or refrigerator throughout the entire lifecycle of an LG appliance, not just the first time they bring the item home.”

Customers in specific markets can expect to see LG’s first upgradable washer and dryer later this year. Follow LG’s Home Appliance Instagram account (@lg_homeappliances) for more information when available.

LG’s 2022 Complete Kitchen Solution Delivers AdvancedCooking Technologies and Seamless Access to Smart Recipes

LG Electronics (LG) is about to make life in the kitchen easier than ever with the introduction of its latest cooking appliances, LG InstaView® Double Oven Range and Over-the-Range Microwave Oven. Featuring the company’s core cooking technologies, these premium appliances are the first to offer seamless integration with the new LG ThinQ™ Recipe service.1 Double Oven Range features LG InstaView technology that lets users see inside an appliance by simply knocking twice on the glass, illuminating the interior without having to open the door and letting hot air escape. A complete cooking solution for today’s homes, both products are made their debut at CES 2022 next week.

The new oven range leverages LG’s ProBake® Convection technology for quick and thorough cooking without preheating to deliver delicious, evenly-cooked meals every time. With its precise temperature and airflow control, ProBake provides shorter cooking times and is also the key ingredient in the oven’s Air Fry and Air Sous Vide modes. Air Fry allows cooks to create delectable, crispy fried treats using far less oil than deep frying while Air Sous Vide ensures tender, juicy dishes that will keep diners wanting more. And delicious doesn’t mean having to wait longer, thanks to LG’s UltraHeat™ Power Burner technology.The other half of the exceptional kitchen duo, LG Over-the-Range Microwave Oven, employs proprietary Steam Cook technology to prepare foods that are juicier, healthier and tastier. The Slide-out ExtendaVent™ in this premium microwave is effective in reducing the presence of smoke and lingering odors in the kitchen. And with its EasyClean interior, the oven is a breeze to keep clean thanks to the advanced coating that prevents food and grease from sticking and allows easy cleanup with only a damp cloth.2 LG’s minimalist design language is perfectly exemplified in the stainless steel and tempered glass of LG WideView™ Window.

New for 2022, LG ThinQ Recipe service delivers a more complete and convenient user experience by making all smart kitchen services and content from LG and its partners available in one place. Accessed via the ThinQ app, LG ThinQ Recipe offers a seamless journey that allows anyone to search, plan, purchase and cook, following hundreds of easy-to-follow recipes including mouth-watering options from talented creators and LG Originals Series, the latter prepared by LG’s own chefs showcasing how to best use features of LG cooking appliances. Powered by SideChef, ThinQ Recipe also offers over 10,000 one-click shoppable recipes for the ultimate home cooking experiences, turning a single recipe or a weekly meal plan into a grocery shopping orderable directly from the app via Walmart or Amazon Fresh.3

In partnership with Boston-based AI start-up Foodspace Technology, ThinQ Recipe also integrates LG’s time-saving Scan to Cook feature, for scan-and-send cooking directions for select frozen meals.

Proactive Customer Care, LG’s AI customer service solution, can be accessed from the intuitive ThinQ app as well. Using artificial intelligence and deep learning technology to analyze product performance data, Proactive Customer Care can send users helpful alerts and maintenance tips to keep their LG ovens running optimally year after year.4

LG puricare AeroTower

LG aims to not only improve your air quality, but also your comfort with the LG PuriCare AeroTower. Not your ordinary air purifier, the PuriCare AeroTower is also a fan and a heater. The model supports three airflow modes (with 10 levels of intensity each): Wide, Diffusion, and Ddirect. Depending on the model, you can add heat (up to 86 degrees Fahrenheit) to any airflow mode. The unit uses multistage True HEPA filters to effectively capture most particles floating around a room. It also uses ultraviolet-C light to help combat bacteria. For those who want to check on the air quality, they can look on the device or check out the LG ThinQ app on their phone.

LG cutting emissions

LG Electronics (LG) announced that its strategy for cutting greenhouse gas (GHG) emissions in the entire manufacturing process from production to use by 2030 has been independently reviewed and validated by climate expert SBTi, making LG the first Korean manufacturer of home appliances to receive such recognition. The validation confirms LG’s confidence in its strategy to reduce the total amount of direct greenhouse gas emissions in line with Business Ambition for 1.5°C, which LG committed to earlier this year.