Tag Archives: LG

LG washtower

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LG Electronics will unveil its new WashTower™ Compact vertical laundry solution at IFA 2022. The new WashTower™ is a fully integrated model that combines a separate washer and dryer, all-in-one control panel and advanced AI in a single, space-efficient unit to deliver greater convenience.

Providing more flexibility for limited spaces, LG’s newest WashTower™ offers a compact design that is ideal for a one or two-member household. Compared to the larger 2020 WashTower™, the width and depth on the new compact model have been reduced. However, the washer and dryer still boast large capacities. The WashTower™ Compact also features a lower height that allows for comfortable and convenient access to the dryer, easier filter management, and the ability to install the unit in rooms with lower ceilings. Requiring less installation space than a stackable or side-by-side washer and dryer pair of the same capacity, the relatively small model frees up space in the kitchen or laundry room to conveniently store detergents, fabric softeners, and linen.

With a sleek design that brings a subtle, minimalist aesthetic, LG’s new all-in-one WashTower™ Compact can integrate seamlessly with any type of décor in the home. The Center Control™ located on the front of the unit in between the washer and dryer, lets users easily manage all settings and functions from one convenient place, providing an optimal laundry experience.

What’s more, the new WashTower™ model takes the user experience – and laundry results – to the next level with LG’s advanced laundry technologies. Employing the Artificial Intelligence Direct Drive™ (AI DD™), the washer is able to identify the most suitable washing pattern (drum motions, water temperature and wash cycle time) for each load, reducing fabric damage to help clothing last longer. Meanwhile, the Smart Pairing™ feature syncs the dryer with the washer and automatically selects the best drying cycle based on the washer load settings, saving users time and offering the ultimate convenience. An excellent performer all-around, the LG WashTower™ Compact helps cut down on washing times with TurboWash™ 360, offering an effortless laundry experience.

“Boasting a more compact, streamlined design that offers more flexibility for small spaces, along with LG’s latest AI-based laundry technologies, the WashTower™ Compact delivers an exceptionally convenient user experience,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “We will continue to listen to consumers and meet their diverse and evolving needs by developing smart tech and design-forward appliances for a better life at home.”

LG will be showcasing its latest innovations, including the new WashTower™ Compact at its exhibition booth (Hall 18, Messe Berlin) during IFA 2022 (September 2-6) in Berlin, Germany.

LG profits

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LG Twin Towers / Courtesy of Korea IT Times

LG Electronics Inc. (LG) announced its highest-ever second-quarter revenues, reflecting strong sales for LG home appliances in key regions and the profitable growth of LG’s vehicle components business as the global automotive industry rebounds.

LG reported revenues of KRW 19.5 trillion in the second quarter of 2022, 15 percent higher than the same quarter the previous year. Operating profit for the second quarter was KRW 792.2 billion, 12 percent lower than the same quarter last year, largely due to supply chain challenges and higher logistics costs.

Given the business impact of the evolving state of the pandemic and economic conditions, LG is leveraging its comprehensive business portfolio, expanding sales from premium to mass-tier products and growing business-to-business areas such as auto parts.

The LG Home Appliance & Air Solution Company reported revenues of KRW 8.07 trillion in the second-quarter, first time in LG’s history for a single business unit to exceed quarterly revenues of KRW 8 trillion. Operating profit was KRW 432.2 billion. Revenues increased 18 percent from the second quarter a year ago, mainly driven by stronger sales of premium appliances and new categories such as hygiene products using steam technology in the key regions of North America and Latin America. The business unit plans to continue its momentum by improving competitiveness of premium products and strengthening its mass-tier lineup.

The LG Home Entertainment Company recorded revenues to KRW 3.46 trillion in the second quarter with operating loss of KRW 18.9 billion reflecting increased marketing investments in response to intensified market conditions. LG’s Home Entertainment strategy will center on effectively managing marketing expenses and growing the premium TV segment, particularly around peak selling seasons including the FIFA World Cup and holiday.

The LG Vehicle component Solutions Company achieved second-quarter sales of KRW 2.03 trillion, a 19 percent increase from the same period of 2021, leading the business unit to be profitable for the first-time. The significantly higher sales were driven by LG proactively responding to higher demand from automakers with efficient supply chain management. With the cloud of uncertainty created by inflation and geopolitical risks, the company will continue to build strong relationships with global automakers along with strong cost structure management to further improve profitability.

The LG Business Solutions Company recorded solid second-quarter revenues of KRW 1.54 trillion with operating profit of KRW 14.3 billion. Revenues increased 19 percent from a year ago largely on the back of recovery of the business-to-business segment. The company plans to aggressively target the rebounding B2B segment by developing more customized solutions and expanding its product portfolio for stable growth.

Discontinued Operations: Second-quarter financial results from LG’s solar panel business, which closed in June as previously announced, are being treated as a loss from discontinued operations.

LG’S NEW ‘HEALTHY HOME SOLUTIONS’ CAMPAIGN

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LG Electronics (LG) is launching its Healthy Home Solutions global campaign, encouraging consumers worldwide to take steps toward a healthier, more sustainable lifestyle at home. The campaign focuses on how to regain vitality in one’s everyday life, offering tips for better home living.

Following the success of its first Healthy Home campaign, launched back in 2020, LG has run a series of compelling campaigns introducing practices for a healthier, more sustainable lifestyle, including #CareForWhatYouWear, #CareForAGreenerKitchen and #CareForWhereYouLive. Aligned with these, the new Healthy Home Solutions campaign centers on creating a ‘wellness’ home environment with support from LG’s latest product lineups; from sophisticated clothing care and kitchen appliances, to advanced air solutions.

The campaign leads off with an inspiring, new video that illustrates how making small changes at home can have a positive impact on personal wellbeing and the environment. Some of the effective, easy-to-adopt measures shown include cooking healthy meals using fresh, local ingredients instead of ordering greasy takeout food, preventing textile waste by refreshing garments with steam, and raising the set temperature of one’s air conditioner to reduce energy consumption and help protect the planet. 

To deliver the campaign’s key messages along with practical, simple ideas for everyday life, LG has formed its own global influencer group – the Wellness Crew.  A total of three ‘crews,’ each with different areas of expertise corresponding to the categories of Eat (healthy eating), Breathe (mental wellbeing) and Wear (sustainable clothing), will be sharing their expert advice using the hashtag #WellnessLiving.The new Healthy Home Solutions campaign is part of LG’s ongoing commitment to caring for consumers and the environment,” said Lyu Jae-cheol, president of the LG Electronics Home Appliance & Air Solution Company. “Through our Healthy Home Solution campaign series, we hope to raise awareness of how simple it can be to live more sustainably, and how important it is that we all take care of ourselves, our homes and the planet.”

Samsung and LG Slowdown

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Samsung Electronics and LG Electronics are set to announce falling sales of home appliances and TVs in the second quarter as people have been spending more time outside rather than staying home,
“Demand for home appliances and TVs continued to slow down in the second quarter, as the global economic downturn and inflation intensified. This is expected to have adversely affected the profitability of product makers,” an official from a local home appliance company said on condition of anonymity.

“Home appliance makers focused on selling premium models and new models during the second quarter due to the expected drop in demand in the market. They also have started to enhance profitability by expanding the global market for their products,” another industry official said, asking not to be named.


The two home appliance makers will announce their preliminary earnings for the April-June period on July 7. According to the consensus among local brokerage houses, Samsung is expected to announce sales of 77.22 trillion won ($59.46 billion) and 14.79 trillion won in operating profit in the second quarter, up 21 percent and 18 percent, respectively, from a year ago.

Though the figures have improved from the same period in 2021, the numbers are lower than the forecast made in May. At that time, the consensus showed Samsung would post 78.68 trillion won in sales and 15.29 trillion won in operating profit.

“Samsung Electronics’ second-quarter earnings are expected to fall below expectations due to a decrease in demand for set businesses such as smartphones, TVs and home appliances,” Kim Dong-won, a researcher at KB Securities, said.

“Considering macro-economic uncertainties such as inflation, disruption of parts supply chains and the Russia issue, it is unlikely that demand for smartphones and PCs will be offset by demand for memory in servers and displays for iPhones alone,” the researcher added.

Market consensus also showed that LG Electronics, where home appliances account for a larger portion of sales than Samsung, is expected to post 19.39 trillion won in sales and 866.4 billion won in operating profit. The latter figure is a sharp drop from the second quarter of 2021 when it posted 1.11 trillion won in operating profit.

The KB Securities researcher said that LG’s second-quarter operating profit is expected to decrease, but the company’s Vehicle component Solutions Division will offset the falling earnings as the division, which mainly sells infotainment systems for vehicles, is expected to shift a surplus.

LG Record Revenue

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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

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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

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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

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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

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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

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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