SEOUL, July 25 (Korea Bizwire) – South Korean tech giant LG Electronics is making significant strides in its subscription-based appliance business and B2B sector, signaling a shift in its long-term strategy. In a conference call on July 25 to discuss second-quarter results, company executives outlined the progress and future plans for these key growth areas. [...]
SEOUL, Jul. 19 (Korea Bizwire) – LG Electronics is ramping up its smart factory solutions business, leveraging 66 years of manufacturing and production data combined with artificial intelligence (AI) and digital transformation (DX) technologies. The company aims to aggressively enter industrial sectors with anticipated growth in factory demand, with the goal of achieving revenue of 1 [...]
SEOUL, Jul. 18 (Korea Bizwire) — LG Electronics Co. said Thursday it aims to achieve over 1 trillion won (US$725.2 million) in sales from its smart factory solution business by 2030, leveraging its artificial intelligence technologies and manufacturing expertise. This year, the South Korean home appliance giant entered the smart factory solution market, offering technologies [...]
SEOUL, Jul. 17 (Korea Bizwire) – LG Electronics has once again demonstrated its dominance in the audio-visual technology sector, securing 16 awards at the highly respected Visual Grand Prix (VGP) 2024 Summer Awards in Japan. The company announced its impressive haul on July 16, highlighting the recognition received by its TV and monitor products. The VGP [...]
SEOUL, Jul. 12 (Korea Bizwire) – LG Electronics announced on July 11 that its subscription-based business model for premium home appliances is experiencing rapid growth, with more than 3 out of 10 customers opting for subscriptions over traditional purchases in June. The tech giant reported that 36.2% of sales for 20 subscription-eligible products at LG Best [...]
SEOUL, Jul. 11 (Korea Bizwire) – LG Electronics is contemplating supporting an employee’s pledge to donate 1,000 won for each new YouTube subscriber, a commitment that could lead to a contribution of approximately 10 million won this month. According to industry sources on July 10, Choi Jung-hyun, a senior employee at LG Electronics who runs the [...]
SEOUL, July 4 (Korea Bizwire) – LG Electronics announced on July 4 that the New York Yankees, one of America’s most prestigious professional baseball teams, have joined its “Protecting Endangered Animals with LG” campaign. The initiative, which aims to raise awareness about biodiversity, features stunning and dynamic images of animals threatened by climate change on electronic [...]
SEOUL, Jul. 3 (Korea Bizwire) — LG Electronics Inc. said Wednesday it has signed a deal to acquire the Netherlands-based home automation company Athom B.V. in a bid to create an open smart home ecosystem and enhance connectivity to home appliances and IoT devices. According to the company, LG Electronics will initially acquire an 80 [...]
SEOUL, June 30 (Korea Bizwire) – LG Electronics Inc., South Korea’s leading consumer electronics maker, said Sunday it has adopted human rights principles to avoid human rights violations within the company and its contracted companies. LG Electronics has integrated existing human rights-related rules and strengthened them in line with the United Nations Guiding Principles on [...]
SEOUL, Jun. 19 (Korea Bizwire) — LG Electronics Inc. said Wednesday it has partnered with ChargePoint Inc., the leading supplier of charging solutions for electric vehicles in North America, to expand its EV charging business on a global basis. Under the memorandum of understanding, LG Electronics will supply its advanced EV charging equipment to ChargePoint, [...]