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LG Electronics Q4 Operating Profit Down 21 pct on Weaker Demand, Rising Costs

LG Electronics Q4 Operating Profit Down 21 pct on Weaker Demand, Rising Costs

SEOUL, Jan. 27 (Korea Bizwire) — LG Electronics Inc. on Thursday said its operating profit fell 21 percent in the fourth quarter from a year earlier due to a hike in logistics and raw material costs and weaker-than-expected holiday spending on home appliances. Operating profit slumped to 677.7 billion won (US$563 million) in the October-December [...]

LG to Launch Upgradable Appliances for Enhanced User Experience

LG to Launch Upgradable Appliances for Enhanced User Experience

SEOUL, Jan. 25 (Korea Bizwire) — LG Electronics Inc. said Tuesday it will roll out upgradable home appliances to better serve consumers’ varying needs, in what it said could be a major shift from selling products to offering improved consumer experiences. The tech giant said users will be able to easily update their home appliances [...]

LG Electronics’ Virtual Influencer Prepares for Debut as Singer

LG Electronics’ Virtual Influencer Prepares for Debut as Singer

SEOUL, Jan. 12 (Korea Bizwire) — LG Electronics Inc.’s virtual influencer Reah Keem is debuting as a singer. The electronics giant on Tuesday signed a memorandum of understanding with South Korean entertainment company Mystic Story, which was established by singer-songwriter Yoon Jong-shin, in preparation for Keem’s debut. In accordance with the agreement, she will appear [...]

LG Electronics Forecast to See Record Sales in Q4 on Strong Home Appliance Biz

LG Electronics Forecast to See Record Sales in Q4 on Strong Home Appliance Biz

SEOUL, Jan. 7 (Korea Bizwire) — LG Electronics Inc. estimated Friday its fourth-quarter sales reached a record quarterly high, apparently backed by its strong home appliance business, but the operating profit is likely to sink due largely to increased logistics costs. The company expected to log 21 trillion won (US$17.5 billion) in sales for the [...]

LG’s Virtual Presentation Met with Mixed Reactions at CES 2022

LG’s Virtual Presentation Met with Mixed Reactions at CES 2022

LAS VEGAS, Jan. 5 (Korea Bizwire) — LG Electronics Inc. on Wednesday welcomed visitors to its massive booth, physically and virtually, at the Consumer Electronics Show (CES) in Las Vegas, offering an alternative approach to exhibiting its latest technology innovations amid the raging pandemic. LG Electronics virtually presented its new consumer electronics products, ranging from an [...]

LG Electronics Unveils 2022 TV Lineup with New 97-inch OLED TV

LG Electronics Unveils 2022 TV Lineup with New 97-inch OLED TV

SEOUL, Jan. 4 (Korea Bizwire) — LG Electronics Inc. on Tuesday unveiled its 2022 TV lineup that includes the world’s biggest OLED TV as the South Korean tech giant seeks to expand its presence in the premium TV market. The world’s largest OLED TV maker said it will debut the world’s biggest and smallest OLED [...]

LG Electronics Gears Up to Develop Commercial ‘Waterless’ Washing Machine

LG Electronics Gears Up to Develop Commercial ‘Waterless’ Washing Machine

SEOUL, Dec. 31 (Korea Bizwire) — South Korean electronics giant LG Electronics Inc. has launched a drive to develop a commercial washing machine that can wash clothes using carbon dioxide instead of water. The commercialization of this technology has been virtually impossible in the country due to strict safety regulations. The Ministry of Trade, Industry [...]

LG Rolls Out Indoor Gardening Appliance amid Pandemic Stress

LG Rolls Out Indoor Gardening Appliance amid Pandemic Stress

SEOUL, Dec. 17 (Korea Bizwire) — The prolonged pandemic has significantly changed how people spend their time at home, which became the location for everything from exercise to work. To some, it became a primary place to garden. LG Electronics Inc. has rolled out an automated indoor gardening appliance, LG tiiun, which means “to sprout” [...]