SEOUL, April 27 (Korea Bizwire) — Last year, the visual display businesses at Samsung Electronics Co. and LG Electronics Inc. saw drops in the capacity utilization rate from the previous year, but the average sales price per device sold increased, largely thanks to premium TVs, data showed Tuesday. Leaders Index studied the business reports of [...]
SEOUL, April 18 (Korea Bizwire) — A South Korean consortium led by LG has signed an initial agreement with Indonesia’s state-run companies to push for a project worth around US$9 billion to establish an electric vehicle battery supply chain in the Southeast Asian country, a LG unit said Monday. The nonbinding framework agreement was signed [...]
SEOUL, April 15 (Korea Bizwire) — LG Electronics Inc. said Thursday that it will release a robot for non-contact disinfection work in the domestic market. LG’s CLOi UV-C Bot is a robot best-optimized for non-contact disinfection work for buildings with abundant separate spaces, including hotels and hospitals. Its key strength is its ability to carry [...]
SEOUL, Jan. 26 (Korea Bizwire) — A host of premium TV models made by South Korean companies are included in the list of TVs recommended as best buys by a U.S. consumer advocacy magazine. Consumer Reports recently selected Samsung Electronics Co.’s 75-inch Neo QLED TV (75QN85) and LG Electronics Inc.’s OLED TV (77CX) as its [...]
SEOUL, Jan. 10 (Korea Bizwire) — At Consumer Electronics Show (CES) 2022, the traditional competition between Samsung Electronics Co. and its home rival LG Electronics Inc. was nowhere to be seen. Samsung plans to release an OLED-based QD Display TV this year, returning to the OLED market currently dominated by LG. “It is something we [...]
SEOUL, Dec. 10 (Korea Bizwire) — LG Electronics Inc. said Thursday that it will showcase new media art using LG OLED TVs at the world-famous modern art museum Saatchi Gallery in London. The exhibition, slated to run from Dec. 9 to 19, will be held under the theme of ‘Hours reinterpreted in digital,’ and will [...]
SEOUL, Oct. 19 (Korea Bizwire) — With the trend toward larger screen TVs accelerating, South Korea’s two electronics giants — Samsung Electronics Co. and LG Electronics Inc. — are about to release new models with a screen size of about 100 inches. Samsung, which is leading the ultra large-sized TV market, is highly likely to [...]
SEOUL, Oct. 13 (Korea Bizwire) — LG Electronics Inc. and LG Energy Solution said Wednesday that they will repay General Motors Co. about 1.4 trillion won (US$1.2 billion) in costs for the recalls of Bolt electric vehicles due to battery defects. The two flagship units of South Korea’s LG Group have reached an agreement with [...]
SEOUL, Aug. 21 (Korea Bizwire) — American automaker General Motors said it will expand the recall of Chevy Bolt electric vehicles equipped with South Korean supplier LG’s batteries over fire risks, which is expected to additionally cost about US$1 billion. The latest recall covers 73,000 Bolt EVs and EUVs from model years 2019 through 2022 [...]
SEOUL, Aug. 10 (Korea Bizwire) — LG Electronics Inc. and LG Chem Ltd. on Tuesday decided to set aside a combined 325.6 billion won (US$282.8 million) in provisions for costs related to General Motors (GM) Co.’s Chevrolet Bolt electric vehicle (EV) recall as they revised down their second-quarter operating profits. In a regulatory filing, LG [...]