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LG Electronics (LG) is a global innovator in technology and consumer electronics, with a focus on transforming into a Smart Life Solution Company. Recent organizational changes and strategic initiatives under CEO William Cho aim at maximizing organizational capabilities and business competitiveness. LG's core businesses include Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions, and Business Solutions, driving global revenue growth. The company is leveraging AI, cloud, and big data to enhance customer experiences and accelerate growth, focusing on Affectionate Intelligence to provide caring, empathetic services.
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LG Electronics (LG) Showcases Smart Life Solutions at CES 2024, Extending Beyond the Home to Various Spaces; Offers Transparent and Wireless 4K LG SIGNATURE OLED TV, Smart Home Powered by AI and IoT, Mobility Concept Alpha-able
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LG Electronics (LG) redefines AI as 'Affectionate Intelligence,' highlighting the technology's role in elevating the customer experience. The company aims to transform into a Smart Life Solution Company, expanding its business into mobility, commercial, and virtual spaces. LG's AI solutions focus on real-time life intelligence, orchestrated intelligence with LG AI Brain, and commitment to responsible intelligence. The company showcased innovative AI-based technologies and strategies for smart home and mobility at CES 2024.
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LG Electronics (LG) is set to host the LG World Premiere press conference at CES in Las Vegas in January 2024. The event will focus on the company's transformation into a Smart Life Solution Company and its use of AI to enhance living spaces and customer experience. CEO William Cho will announce key areas of focus for 2024 and beyond, unveiling state-of-the-art products and innovations.
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LG Electronics (LG) announced organizational changes to achieve the Future Vision 2030, establishing the Overseas Sales and Marketing Company to strengthen global brand power. The company aims to create customer value, enhance executive capabilities, and accelerate the advancement of platform-based businesses and innovative D2C business models.
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LG Electronics (LG) Wins 33 CES® 2024 Innovation Awards, Including Two Best of Innovation Awards for LG OLED TVs. The awards recognize LG's technological and design excellence across Home Appliance, Home Entertainment, and B2B categories. LG's OLED TVs received 12 awards, marking the 12th consecutive year of recognition. LG's Home Entertainment innovations, including LG Soundbars, LG XBOOM Portable Speakers, and LG Smart TV webOS apps, were also honored. LG Home Appliance products, such as LG SIGNATURE Washer & Dryers, and LG Business Solutions products, like LG UltraGear Gaming Monitors and LG gram Laptops, received awards. The full list of recipients will be announced at CES 2024 on January 7.
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LG Electronics hosted the finals of the 2023 Global IT Challenge for Youth with Disabilities (GITC) in Abu Dhabi, attracting nearly 500 participants from 18 countries. The event included six IT challenges and aimed to help young people with disabilities become proficient in ICT. Muhammad Naazir Danesh from Malaysia was named the overall winner.
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LG Electronics Inc. announced Q3 2023 revenue of KRW 20.7 trillion and operating profit of KRW 996.7 billion, driven by home appliances and vehicle solutions. B2B revenue grew significantly, accounting for 35% of overall revenue. Q3 operating profit increased by over 30%. LG plans to focus on B2B expansion and non-hardware business model innovation. They aim to boost B2B revenue to over KRW 40 trillion by 2030. LG also plans to invest in promising businesses and expand globally in electric vehicle charging. The company's 2030 vision is progressing well, with a focus on growth, profit, and enterprise value. LG will continue to transform its business portfolio in Q4 and optimize efficiencies.
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LG Electronics reports second highest third-quarter revenues and operating profit
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LG Electronics introduces a new brand film as part of its ongoing global brand campaign. The film promotes LG's Life's Good philosophy and emphasizes the importance of being optimistic. It tells the story of a middle-aged man who overcomes obstacles by choosing optimism. LG aims to inspire people to face challenges with an optimistic attitude and highlight its brand values.
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LG Electronics partners with Whanki Foundation for art collaborations at Frieze Seoul 2023
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FAQ
What are LG's core businesses?
LG's core businesses include Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions, and Business Solutions.
What is LG's focus on AI?
LG is leveraging AI, cloud, and big data to enhance customer experiences and accelerate growth, with a focus on Affectionate Intelligence.
Who is leading LG's transformation?
CEO William Cho is leading LG's transformation into a Smart Life Solution Company.
How is LG using customer touchpoints for AI development?
LG's 700 million devices worldwide serve as customer touchpoints, providing real-time life data to accelerate AI development.
What is LG's strategy for future growth?
LG is transitioning to a comprehensive Smart Life Solution Company, expanding business portfolios, platform-based services, and venturing into new areas like robotics and EV charging.
What is LG's '3B strategy' for AI capabilities?
LG's '3B strategy' focuses on Building internal capabilities, Borrowing and Buying external resources to establish world-class AI capabilities.
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