Tag Archives: LG

LG said it will collaborate with Lumi United Technologies

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LG said it will collaborate with Lumi United Technologies, a Chinese Internet of Things (IoT) solution provider, to develop a wide range of smart home solutions.

The South Korean electronics maker signed a memorandum of understanding with Lumi, Xiaomi’s IoT arm, to develop artificial intelligence-based smart home services.

A smart home is an automated home system based on the IoT, sensors and services connected through a wireless network, allowing users to remotely monitor and control the system.

The companies will also jointly showcase their smart home devices during the upcoming Internationale Funkausstellung (IFA) in Berlin, Europe’s largest tech show slated for next month, LG said.

LG said the partnership will boost its smart home ecosystem based on connected devices, AI platform and smart sensors.

Lumi has released over 20 smart devices, including sensors, controllers and gateways, under the name of “Aqara,” and has been partnering with global IT firms, including Apple, Google and Amazon.

LG Electronics Q2 operating earnings down 15.4%

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LG Electronics Inc. said Friday its second-quarter operating profits are expected to have dropped 15.4 percent from a year earlier, mainly due to its sluggish smartphone business.

In an earnings guidance, the South Korean electronics maker said it expects to post 652.2 billion won ($557 million) in operating profits in the April-June period — far below the average market expectation of around 774 billion won.

Its sales are expected to be 15.6 trillion won in the second quarter, a 4.1 percent surge from a year earlier, the firm said.

The company did not provide detailed performances for each division, saying it will release its earnings report later this month.

Analysts attributed the worse-than-expected earnings to the sluggish mobile business, which was expected to have eroded robust profits from the home appliance division.

They estimated the mobile division’s operating deficits at over 200 billion won in the second quarter, which would mark the ninth consecutive quarterly loss.

Although LG’s first 5G smartphone, the V50 ThinQ, was well-received in the domestic market since its launch in early May, it failed to provide strong momentum to help the mobile division make a turnaround in the second quarter, they noted.

The Korean phone maker launched the V50 in the United States in partnership with Sprint and Verizon in the last two months, respectively, but the initial response was lukewarm with lack of 5G infrastructure in the nation.

LG’s share in the U.S. smartphone market stood at 16 percent in 2018, according to industry tracker Strategy Analytics.

“LG V50 ThinQ failed to contribute sales increase in the North American market,” said Park Gang-hoo, an analyst at Daishin Securities. “Given the heavy marketing costs, the 5G smartphone was limited in improving the mobile division’s profitability.”

Market watchers say strong demand for LG’s home appliances might have improved its overall sales.

LG Electronics has enjoyed brisk sales of products related to air quality, such as air purifiers, dryers and clothing-care home appliances, and revenue from their rental service has also been on the rise as more people opt for renting gadgets.

“The home appliance businesses drove up the overall performance thanks to robust sales of premium lineup and new lifestyle products, such as air purifiers and garment dryers,” Koh Jung-woo, an analyst at NH Investment & Securities, said. “LG’s TV business likely suffered due to weak demand for LCD products and intensifying competition with Chinese makers, and its smartphone division continued to book losses.”

Shares of LG Electronics tumbled 5.22 percent to 72,600 won on the Seoul bourse, far below the KOSPI’s 0.09 percent gain. The earnings guidance was announced before the market closing.

LG Licenses Advanced Refrigerator Technologies To GE Appliances LG Grants Use of Door-Ice Making Patents for Premium Refrigerators

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LG Electronics (LG) is licensing its patented refrigerator door-ice making technology for use in refrigerators sold by GE Appliances, which Haier acquired in 2016. Terms were not disclosed.

The license agreement follows months of negotiations over GE Appliances’ use of LG’s patented technologies. The agreement underscores the value of LG’s patent portfolio and the company’s leadership in home appliances with more than 400 patents related to door-ice making technology.

LG’s patented door-ice making technology allows for slim and sleek profile designs that maximize usable space inside the refrigerator.
LG’s patented door-ice making technology allows for slim and sleek profile designs that maximize usable space inside the refrigerator.
This door-ice making technology takes up less room than a conventional refrigerator ice maker and frees up more space for food storage in the refrigeration compartment.
This door-ice making technology takes up less room than a conventional refrigerator ice maker and frees up more space for food storage in the refrigeration compartment.
LG’s patented door-ice making technology allows for slim and sleek profile designs that maximize usable space inside the refrigerator. This door-ice making technology takes up less room than a conventional refrigerator ice maker and frees up more space for food storage in the refrigeration compartment.

“Our desire to deliver more convenience and functionality to customers drives us to develop innovative new core technologies such as our door-ice making inventions,” said Dan Song, president of LG Electronics Home Appliance & Air Solution Company. “At the same time, as seen in this major patent licensing agreement, LG is committed to actively protecting our intellectual property.”

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 quality systems as well as visionary products featuring artificial intelligence. The company is creating total solutions for the home with its industry leading core technologies and is committed to making life better for consumers around the world by developing thoughtfully designed kitchen appliances, living appliances and air solution products. Together, these products deliver enhanced convenience, superb performance, efficient operation and compelling health benefits. For more information, visit http://www.LG.com.

SOURCE LG Electronics USA

LG SIGNATURE’S Combination Of Superior Design And Technology Set To Conquer New Markets

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Premium Brand Hosts Exclusive Launch Events in Japan and Norway Successfully expanding its presence in the global premium home appliance market, LG SIGNATURE is making its much anticipated debut in Japan and the Nordic countries. To celebrate the brand’s arrival, exclusive launch events were held complete with talks from local experts sharing their personal and professional perspectives on LG SIGNATURE products. The superior range of luxury appliances offers compelling user experiences through cutting-edge technology, user-friendly functions and stunning aesthetics.

The launch events featured a design gallery named The Art of Essence through Minimalism created in partnership with acclaimed Italian photographer, Delfino Sisto Legnani. In a series of gorgeous images, the artist perfectly captures the timeless elegance of the appliances within the starkly beautiful Monte Amiata condominium, an iconic residential complex located in the Gallaratese district of Milan.

An award-winning photographer, Delfino is renowned for his minimalist images. Explaining his choice of location, he said, “I wanted to combine the formal purity of LG SIGNATURE products with the simplified and absolute forms, out of scale, with respect to the products themselves, of the Monte Amiata complex, generating absolute shots, unrelated to time.”

LG SIGNATURE’s Japan launch event took place early this month at Tokyo’s National Art Center, a facility designed by legendary Japanese architect, Kisho Kurokawa. On hand to witness the unveiling of the LG SIGNATURE TV, Refrigerator, Washing Machine and Air Purifier were over 250 VIP guests. A panel featuring highly-regarded local filmmaker, Ando Momoko, noted chef Kinoshita Takemasa, and other influential Japanese trendsetters including the announcer, Baba Noriko, gathered to talk about LG SIGNATURE products, unreservedly praising their ability to help create a better, more convenient lifestyle.

To mark LG SIGNATURE’s arrival in the Nordic countries, a launch event was held on June 13 at Astrup Fearnley Museet, one of the biggest contemporary art galleries in Oslo, Norway’s ultra-stylish capital city. The more than 200 guests in attendance were able to get a first-hand look at the exceptional yet understated LG SIGNATURE TV, Refrigerator, Washing Machine, Air Purifier, Dryer, Wine Cellar and Bottom-Freezer Refrigerator.

Guests were also treated to a lively discussion on the benefits of LG SIGNATURE products moderated by one of Norway’s most accomplished actresses, Pia Tjelta. The all-star panel included famous Swedish singer and actress, Pernilla Wahlgren, and the Flying Culinary Circus; a team of four top chefs comprising Trond Svendgård, Hans Kristian Larsen, Tor Jørgen Kramprud Arnesen and Mathias Spieler Bugge. The culinary experts revealed how LG SIGNATURE appliances help them to effortlessly prepare delicious meals, and put on an entertaining cooking demonstration with mouth-watering results.

Participating in both the Oslo and Tokyo events, Torsten Valeur, the widely-respected Danish industrial designer and master design advisor for LG SIGNATURE home appliances, introduced the brand’s design philosophy and highlighted its restrained, minimalist aesthetics.

“We’re very excited to share the unparalleled design and advanced technology of LG SIGNATURE with new audiences,” said Ian Kim, vice president of LG’s brand management division. “We are strongly committed to expanding our premium home appliance business and providing consumers all over the world with the best lifestyle solutions yet.”

The continuing success of LG SIGNATURE has industry insiders and consumers taking note and is further cementing LG’s premium brand image across the globe. In order to engage a wider audience and showcase the perfected blend of form and function the brand is known for, LG will be expanding its new digital campaign, Art inspires technology. Technology completes art.

About LG SIGNATURE
LG SIGNATURE is LG Electronics’ ultra-premium brand. By uniting the best of LG technology and design under a single brand, LG SIGNATURE offers consumers a collection that boasts subtle elegance and top-notch performance. The range of LG SIGNATURE products includes InstaView Door-in-Door™ refrigerator, TWINWash™ washing machine, air purifier and award-winning “wallpaper” OLED TV W. All LG SIGNATURE products have one thing in common: uncompromising quality and a focus on the essentials. LG SIGNATURE products have won a number of industry awards for technological innovation and sophisticated design, including 2017 CES Best of Innovation Award, iF Gold Award 2016, Red Dot Design Award 2016 and Engadget Best of CES Award 2019 for LG SIGNATURE OLED TV R. For more information on LG SIGNATURE, please visit http://www.LGSIGNATURE.com

LG Electronics is expanding the number of markets where its premium appliance brand LG Signature

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LG Electronics is expanding the number of markets where its premium appliance brand LG Signature will be made available as the company launched the high-priced appliances in Scandinavian countries.

The tech company said Friday it began selling its SIGNATURE products in Sweden, Norway, Denmark and Finland. To commemorate the launch, it held a showcase event at Astrup Fearnley Museet, a contemporary art museum in Oslo, Norway, Thursday.

Inviting 200 people including local dealers, reporters and high-profile figures, LG displayed seven kinds of LG SIGNATURE products including air purifiers, dryers, wine sellers and refrigerators. Torsten Valeur, a renowned Danish industrial designer who took part in design work of LG Signature products, also joined the event.

“We expect LG’s SIGNATURE products will meet with many Scandinavian customers. We are sure they would prefer our SIGNATURE products, manufactured based on a refined design language,” an official of the company said.

LG has been trying to sell its high-priced appliances in more countries. Since it launched the Signature brand in 2016, the company has been selling the products in 50 countries.

It held a conference recently in Tokyo, inviting journalists and high-profile figures for a look at the refrigerators, washing machines and TVs under its SIGNATURE brand.

LG Styler

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LG Electronics’ garment care system Styler has been gaining rapid popularity in Japan, with its sales in that country having jumped 50 percent over the past year, the company said Friday.

The achievement is considered notable, given that Japanese consumers have a reputation for not using products made by foreign companies, according to the firm.

Released in the Japanese market in 2017, the LG Styler has been sold at about 900 stores, including Tokyo Bic Camera.

Sales of the project as of May surged 50 percent from a year earlier, while annual sales in 2018 doubled compared to the previous year.

The steam clothing care system has been well-received in the Japanese business-to-business market as well, the Korean tech giant said, noting it supplied the products to about 700 rooms at Henn na Hotel.

The firm said Japanese consumers have been especially fascinated by a pollen removal feature of Styler as the number of pollen allergy sufferers in that country has continued to increase year after year.

A dehumidification feature of the product has also attracted Japanese consumers as the humidity is high in summer in Japan, and makes clothes damp.

“We will increase our marketing activities in Japan so more consumers in the Japanese market can experience the distinguished value of Styler,” said Lyu Jae-cheol, who heads the living appliance division at LG Electronics.

LG Electronics released Styler in Korea in 2011 after nine years of development.

The firm, which holds 181 global patents regarding the product, has released the product in about 10 countries including the United States, China, Germany and Japan since then.

LG Styler is designed to refresh clothes without chemicals, providing an ideal method for clothes that require extra special care such as coats and sweaters and items made of wool or silk.

Unlike typical washing machines, the one-of-a-kind Styler does not clean clothes with water, but with steam. With the touch of a button, hot steam is sprayed directly onto the clothes to eliminate more than 99 percent of the germs and bacteria that infest clothes, hats and scarves.

The “Moving Hanger” feature shakes the clothes through the steam at 220 revolutions per minute to reduce odors and wrinkles.

Other convenience-enhancing features include Wi-Fi compatibility, which allows customized cycles to be downloaded to a smartphone from the internet. Furthermore, the Styler can send push notifications to customers’ smartphones and display information on how much energy is being used.