News

LG plans $39.5 bn investment to hit $79 bn in sales by 2030 LG Electronics aims to spend $39.5 billion in research and development, facility and strategic investment as it aims to reach $79 billion in sales by 2030, up from $51.4 billion last year. By 2030, the company aims to double sales for its heating, ventilation and air conditioning (HVAC) business and become a global top-tier comprehensive air conditioning company. LG Electronics (LG) declared its vision to transform from its current position as a top global home appliance brand to a &ldq...
LG plans $39.5 bn investment to hit $79 bn in sales by 2030
LG plans $39.5 bn investment to hit $79 bn in sales by 2030
Source: IANS
15/07/2023 11:46:14 AM
LG sets up 1st overseas TV R&D lab in Indonesia LG Electronics said on Thursday it has established its first overseas research and development (R&D) lab for home entertainment products in Indonesia as part of its efforts to accelerate its inroads into the Southeast Asian TV market. The 40,000-square-foot R&D lab in Cibitung, West Java, is located near LG's existing TV manufacturing facilities in the city, which serve as the production hub for the Asian market, and is only 40 kms away from LG's sales office in the capital...
LG sets up 1st overseas TV R&D lab in Indonesia
LG sets up 1st overseas TV R&D lab in Indonesia
Source: IANS
6/07/2023 2:36:39 PM
LG announces OLED TV line-up in India, including 97-inch TV LG Electronics on Wednesday announced the launch of its highly-anticipated 2023 OLED TV line-up in India, including the massive 246 cm (97-inch) TV. According to the company, the price starts from Rs 1,19,990 for OLED42C3 per unit to Rs 75,00,000 for ROLLABLE TV per unit. The 2023 LG OLED line-up includes 21 models across different variants, including the 8K OLED Z3 series, OLED evo Gallery edition G3 Series, OLED evo C3 series, OLED B3 and A3 series TVs. "By introducing innovat...
LG announces OLED TV line-up in India, including 97-inch TV
LG announces OLED TV line-up in India, including 97-inch TV
Source: IANS
24/05/2023 3:08:51 PM
LG Electronics` TV factory runs at 75% capacity amid slow demand LG Electronics ran its TV manufacturing plant at around 75 per cent in the first quarter, the company said on Monday, amid slowing demand for home entertainment products. The tech company said in a regulatory filing the rate came in at 75.3 percent for the three months ending in March, the lowest since March 2015 when the corresponding figure was 68.1 percent, reports Yonhap news agency. LG's TV business made a turnaround in the first quarter, after making losses for the past three ...
LG Electronics` TV factory runs at 75% capacity amid slow demand
LG Electronics` TV factory runs at 75% capacity amid slow demand
Source: IANS
15/05/2023 3:47:18 PM
JioCinema to be accessible on LG TVs for ultimate IPL viewing experience JioCinema, the exclusive digital partner for the Indian Premier League (IPL), on Thursday announced its partnership with LG Electronics to provide a seamless IPL viewing experience on LG OLED TVs. This partnership aims to enhance the Cricket watching experience of millions of Indian consumers. "The partnership with LG is a step further to one of our core propositions, which is to make the IPL as accessible as possible to fans. Through our association, fans will have a boundary-side...
JioCinema to be accessible on LG TVs for ultimate IPL viewing experience
JioCinema to be accessible on LG TVs for ultimate IPL viewing experience
Source: IANS
13/04/2023 2:41:44 PM
LG Electronics` Q1 profit down 23% on sluggish demand LG Electronics on Friday said its operating profit for the January-March period likely declined 23 per cent from a year earlier amid the on-going macroeconomic woes that dampened consumer demand. The South Korean tech company estimated its first-quarter operating profit at 1.49 trillion won ($1.1 billion), down 22.9 per cent from a year earlier. Sales decreased 2.6 per cent to 20.41 trillion won. The data for net income was not available. The operating profit, however, was 20.7 per c...
LG Electronics` Q1 profit down 23% on sluggish demand
LG Electronics` Q1 profit down 23% on sluggish demand
Source: IANS
7/04/2023 2:40:30 PM
LG CEO expects electric vehicle parts business to take off this year LG Electronics's chief executive officer Cho Joo-wan has said the company's focus on the electric vehicle (EV) parts business for the past decade has started to bear fruit. "Our EV business has made a turnaround 10 years after we entered the market," CEO Cho Joo-wan said during a press briefing here at CES 2023. "Now that the business is on the highway, all there is left to do is to step on the accelerator." The tech company forecast its EV business to have t...
LG CEO expects electric vehicle parts business to take off this year
LG CEO expects electric vehicle parts business to take off this year
Source: IANS
8/01/2023 1:46:25 PM
LG Electronics Q4 operating profit down 91.2% in Q4 LG Electronics estimated its fourth-quarter operating earnings at 65.5 billion won ($51.6 million), down 91.2 per cent from a year earlier. Revenue increased 5.2 percent on-year to 21.85 trillion won, marking a quarterly high, according to the earnings guidance releas ed by the company. But it did not release the data for net income. The operating profit was 79.5 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News A...
LG Electronics Q4 operating profit down 91.2% in Q4
LG Electronics Q4 operating profit down 91.2% in Q4
Source: IANS
7/01/2023 4:09:53 PM
LG Electronics Q3 profit down on weak demand  LG Electronics on Friday reported record high sales backed by its electric vehicle (EV) components business but also experienced a big drop in net income in the third quarter on sluggish demand for consumer electronics amid high inflation and recession fears. The South Korean tech company reported in a regulatory filing that its third-quarter net income came in at 336.5 billion won ($237.1 million), down 34.8 per cent from a year earlier. Operating income for the July-September pe...
LG Electronics Q3 profit down on weak demand
LG Electronics Q3 profit down on weak demand
Source: IANS
28/10/2022 2:08:14 PM
LG Electronics' Q3 profit estimated to have risen 25% on-year LG Electronics said on Friday that its preliminary third-quarter operating profit jumped around 25 per cent from a year earlier. The tech company said its profit for the July-September period was predicted to come in at 746.6 billion won ($529 million), up 25.1 percent from 540.7 billion won from the year-ago period. But LG's quarterly profit, in fact, declined on-year after taking into consideration a recall provision of 480 billion won for General Motors Co.'s Bolt electric ve...
LG Electronics' Q3 profit estimated to have risen 25% on-year
LG Electronics' Q3 profit estimated to have risen 25% on-year
Source: IANS
7/10/2022 4:22:45 PM
Japan`s Daikin to build air conditioners in Nigeria in renewed push Japan's Daikin Industries Ltd will begin assembling air conditioners in Nigeria as it renews a push into Africa that had been delayed by the COVID-19 pandemic, a regional head said on Thursday. "We are very soon going to have a factory in Nigeria," Kanwal Jeet Jawa, the head of Daikin's operations in India and East Africa, told Reuters. Rather than building a plant, Daikin is using space in a facility provided by a local distributor in the West African nation, he said....
Japan`s Daikin to build air conditioners in Nigeria in renewed push
Japan`s Daikin to build air conditioners in Nigeria in renewed push
Source: Reuters
30/09/2022 12:00:17 PM
New LG platform lets users buy, sell NFTs via its premium TVs LG Electronics on Monday launched its very own non-fungible token (NFT) platform called LG Art Lab compatible with its premium TVs. The new platform, available in the US on the company's TVs running webOS 5.0 or later and accessible directly from the home screen, enables users to buy, sell and enjoy high-quality digital artwork. "When displayed on the cinematic, 16:9 aspect ratio screens of LG's TVs, NFTs come fully to life," the company said in a statement. LG'...
New LG platform lets users buy, sell NFTs via its premium TVs
New LG platform lets users buy, sell NFTs via its premium TVs
Source: IANS
5/09/2022 11:38:35 AM
LG unveils wireless earbuds with unique head-tracking spatial audio LG Electronic on Monday announced two new sets of 'TONE Free' wireless earbuds, and the flagship device comes with the world's first 'Dolby Head Tracking' feature across all content and devices. The 'Dolby Head Tracking' feature in TONE Free T90 model recalibrates the sound as users move their heads for a more natural sound experience, so they will feel like they are in the centre of the scene and experience a whole new level of audio immersion. The 2022 TONE...
LG unveils wireless earbuds with unique head-tracking spatial audio
LG unveils wireless earbuds with unique head-tracking spatial audio
Source: IANS
8/08/2022 11:10:55 AM
LG Electronics posts 12% drop in profit on weaker demand LG Electronics on Friday said its second -quarter operating profit decreased 12 per cent (on-year) amid rampant inflation that hurt consumer demand for TVs and other home appliances. Its operating income came in at 792 billion won $609 million for the April-June quarter, falling short of analysts' expectations surveyed by Yonhap Infomax, the financial data firm of Yonhap News Agency. Revenue increased 15 per cent from the year-ago quarter to 19.5 trillion won. LG said its TV busi...
LG Electronics posts 12% drop in profit on weaker demand
LG Electronics posts 12% drop in profit on weaker demand
Source: IANS
29/07/2022 12:38:54 PM
LG first in India to sell over 10 lakh dual-inverter ACs in 6 months LG Electronics on Monday said it has become the first and only company to sell over 10 lakh dual-inverter air conditioners in India in the six-month period in the first half of the year. The inverter technology-based ACs now contribute nearly 80 per cent of the total air-conditioner market in the country. "In the air-conditioning segment, we are committed to offer most energy efficient and advance cooling solutions and based on this vision, LG shifted its entire AC line to inverter...
LG first in India to sell over 10 lakh dual-inverter ACs in 6 months
LG first in India to sell over 10 lakh dual-inverter ACs in 6 months
Source: IANS
18/07/2022 4:17:37 PM
LG Electronics expects Q2 earnings to decrease 12% on weaker demand LG Electronics on Thursday estimated its second-quarter operating profit decreased 12 per cent year-over-year on weaker demand for TV and home appliances amid rising inflation and raw material costs. Its earnings guidance for the April-June period showed the tech company's operating profit declined 12 percent from a year ago to 791.7 billion won ($610.5 million). The operating profit was 1.2 per cent lower than the average estimate, according to the survey by Yonhap Infomax, the fin...
LG Electronics expects Q2 earnings to decrease 12% on weaker demand
LG Electronics expects Q2 earnings to decrease 12% on weaker demand
Source: IANS
7/07/2022 3:00:06 PM
LG gets $6.1 bn worth order for Electric Vehicle parts in 2022 1st half LG Electronics said on Tuesday it has secured 8 trillion won ($6.1 billion) worth of new orders for electric vehicle (EV) parts and solutions in the first half of this year, a sign that its new growth engine is gaining ground. While the South Korean tech company did not reveal the details of the new orders, it is believed to have added new orders for its in-vehicle infotainment system as well as its telematics solutions used for vehicle communications. LG's vehicle solutions busines...
LG gets $6.1 bn worth order for Electric Vehicle parts in 2022 1st half
LG gets $6.1 bn worth order for Electric Vehicle parts in 2022 1st half
Source: IANS
5/07/2022 3:41:07 PM
LG to invest $1.5 bn in clean technology over 5 years LG Corp, South Korea's fourth-largest conglomerate, said on Wednesday it plans to invest more than 2 trillion won ($1.5 billion) over the next five years in clean technology, as part of efforts to advance in a new growth sector. The group, which has affiliates in various businesses, ranging from consumer electronics and chemicals to batteries and displays, said it will seek new business opportunities in clean tech, such as recycling used batteries and plastics, as well as reducing carb...
LG to invest $1.5 bn in clean technology over 5 years
LG to invest $1.5 bn in clean technology over 5 years
Source: IANS
29/06/2022 4:02:51 PM
LG Electronics advances into EV charging business LG Electronics said on Sunday it has acquired a domestic EV charging maker to advance into the EV charging solutions business amid a global electrification push. LG Electronics recently acquired a 60 per cent stake in AppleMango for an unspecified amount, with GS Energy and GS Neotek taking over 34 per cent and 6 per cent stakes in the company, respectively, to secure a new growth engine, the company said in a statement. LG said it plans to establish a EV charging production line at the...
LG Electronics advances into EV charging business
LG Electronics advances into EV charging business
Source: IANS
26/06/2022 10:22:56 AM
Exclusive-India considers curbing fridge imports to boost local industry NEW DELHI - India is considering restricting imports of refrigerators to promote local manufacturing, two industry sources told Reuters on Thursday, potentially freezing out shipments from Samsung Electronics Co and LG Electronics Inc in the $5 billion market. The sources, who declined to be named as the talks were private, said the government was considering mandating that importers seek a licence from the authorities, replacing the existing free-import regime. That could be followed b...
Exclusive-India considers curbing fridge imports to boost local industry
Exclusive-India considers curbing fridge imports to boost local industry
Source: Reuters
9/06/2022 2:25:23 PM
LG unveils new OLED TV lineup, including rollable TV, in India With the aim to expand its TV lineup in the country, LG Electronics on Tuesday announced the availability of its highly anticipated 2022 OLED TVs in India at a starting price of Rs 89,990. The company has also unveiled its much anticipated Rollable OLED TV at Rs 7,500,000. "The unique offerings of our latest lineup demonstrate our perseverance to deliver differentiated user experience and a new way of thinking about our consumer's home entertainment space while once again confi...
LG unveils new OLED TV lineup, including rollable TV, in India
LG unveils new OLED TV lineup, including rollable TV, in India
Source: IANS
24/05/2022 4:01:49 PM
Home appliances, one-off gains drive record Q1 profit for LG LG Electronics on Thursday said its first-quarter operating profit rose more than 6 per cent from a year ago, fueled by sales of premium home appliances and one-off gains from patents licensing. Its operating income came in at a quarterly record of $1.56 billion, marking a 6.4 percent year-on-year rise. Sales increased 18.5 per cent to 21.1 trillion won in the January-March period, surpassing the market expectations and also marking the quarterly record for the company, reports Yonhap n...
Home appliances, one-off gains drive record Q1 profit for LG
Home appliances, one-off gains drive record Q1 profit for LG
Source: IANS
29/04/2022 9:51:35 AM
LG launches new earbuds at Rs 13,990 in India LG Electronics on Wednesday launched 'LG Tone Free FP Series earbuds' at Rs 13,990 in the Indian market. The earbuds are equipped with a unique and innovative UVnano charging cradle with ultraviolet light that sanitises the earbuds, and kills 99.9 per cent bacteria. "The new model of ALG Tone Free earbuds has been upgraded with innovative features with the unique UV Nano and Meridian Technology. We are confident, these earbuds will be the perfect solution for audiophiles lo...
LG launches new earbuds at Rs 13,990 in India
LG launches new earbuds at Rs 13,990 in India
Source: IANS
17/03/2022 12:21:17 PM
Samsung to supply new advanced auto chip to Volkswagen SEOUL  - Samsung Electronics on Tuesday revealed new auto chips targeting demand for advanced chips in cars, including one mounted in Volkswagen's infotainment system developed by LG Electronics. Demand is rising for "high-tech" automotive chips that can handle more entertainment consumption and increased electrical components in cars, Samsung said in a statement, saying that it plans to actively respond to the growing demand. The chips, developed by Samsung's log...
Samsung to supply new advanced auto chip to Volkswagen
Samsung to supply new advanced auto chip to Volkswagen
Source: Reuters
30/11/2021 10:43:56 AM
LG names new CEO to tap new biz opportunities LG Electronics said on Thursday it promoted its chief strategy officer to its new CEO to nurture new business opportunities and focus on digital transformation. The company said its current Chief Strategy Officer Cho Joo-wan will assume the top post of the tech company, effective from December 1. Having joined the company in 1987, Cho has worked for the company in various positions at home and abroad, including president of LG Canada, Australia and the United States, reports Yonhap news...
LG names new CEO to tap new biz opportunities
LG names new CEO to tap new biz opportunities
Source: IANS
25/11/2021 3:48:41 PM
LG Electronics Q3 net profit down 20.4% on Bolt EV recall costs LG Electronics on Thursday said its net profit dropped 20.4 per cent on-year in the third quarter due to costs incurred in a recall of General Motor's Bolt electric vehicles. The South Korean tech giant said in a regulatory filing that net income came to 516.5 billion won ($440 million) in the July-September period, down from 649.2 billion won during the same period of last year. LG Electronics said the recall of General Motor's Bolt electric vehicles hurt its bottom line. LG...
LG Electronics Q3 net profit down 20.4% on Bolt EV recall costs
LG Electronics Q3 net profit down 20.4% on Bolt EV recall costs
Source: IANS
28/10/2021 5:46:10 PM
LG sees Q3 operating profit to drop nearly by half from a year earlier LG Electronics has estimated its third-quarter operating profit to drop nearly by half from a year earlier, largely due to a recall provision cost. In its earnings guidance, the South Korean tech firm estimated its July-September operating profit at 540.7 billion won ($451 million), down 49.6 per cent from a year earlier, because of a recall provision of 480 billion won for General Motors Co.'s electric vehicles. The company has supplied GM with battery modules that are made with ba...
LG sees Q3 operating profit to drop nearly by half from a year earlier
LG sees Q3 operating profit to drop nearly by half from a year earlier
Source: IANS
13/10/2021 4:23:53 PM
LG bets on home appliance, TV sales after strong Q2 results  LG Electronics on Thursday said it expected a solid third-quarter performance with growth in its auto parts business after delivering strong second-quarter results on the back of its home appliance unit amid the pandemic. The South Korean tech giant said its operating profit spiked 65.5 percent to 1.11 trillion won ($968 million) in the April-June period, its best second-quarter performance since 2009. Sales jumped 48.4 percent on-year to 17.1 trillion won over the cited period, i...
LG bets on home appliance, TV sales after strong Q2 results
LG bets on home appliance, TV sales after strong Q2 results
Source: IANS
29/07/2021 3:17:36 PM
LG Electronics launches upgraded wireless earbuds  LG Electronics on Monday unveiled its upgraded wireless earbuds with enhanced sound and hygiene features as the tech giant eyes to increase wearable sales. Three new models of the LG TONE Free -- TONE-TFP9, TONE-TFP8 and TONE-TFP5 -- were launched in South Korea with prices ranging from 169,000 won ($146) to 249,000 won. They will be available in North America and Europe later this month. In collaboration with Ergonomic Design Technology Lab at POSTECH, a leading science techno...
LG Electronics launches upgraded wireless earbuds
LG Electronics launches upgraded wireless earbuds
Source: IANS
26/07/2021 10:33:51 AM
LG to expand cloud-based call centres amid pandemic LG Electronics said on Tuesday it will expand cloud-based call centres to offer better customer care services and protect its workers from the novel coronavirus outbreak. With its recently launch of cloud-based call centres in the United States, LG said they will be also available in 10 more countries, including Brazil, France, Vietnam and South Korea, by the end of this year. Cloud-based call centres allow employees to work wherever internet is connected, which will promote a work-from...
LG to expand cloud-based call centres amid pandemic
LG to expand cloud-based call centres amid pandemic
Source: IANS
6/07/2021 12:40:17 PM
LG set to post strong Q2 earnings on home appliance biz LG Electronics is likely to report strong second-quarter earnings, analysts said on Friday, as its mainstay home appliance business continued to rack up solid results. The South Korean tech company was projected to log 17.6 trillion won (US$15.5 billion) in sales in the April-June period, up 37 percent from a year earlier, while its operating profit was estimated to soar 140 percent on-year to 1.2 trillion won over the period, according to the data from seven local brokerage houses compile...
LG set to post strong Q2 earnings on home appliance biz
LG set to post strong Q2 earnings on home appliance biz
Source: IANS
2/07/2021 3:54:08 PM
LG unveils AI equipped digital X-ray detector LG Electronics on Tuesday unveiled a digital X-ray detector (DXD) with artificial intelligence (AI) solutions as the South Korean tech giant eyes to expand its presence in the medical equipment field. LG's latest DXD was introduced at Arab Health 2021, the largest medical equipment expo in the Middle East, which will run through Thursday in Dubai. The company plans to launch its new DXD in global markets, including South Korea and the US in the near future, reports Yonhap news agenc...
LG unveils AI equipped digital X-ray detector
LG unveils AI equipped digital X-ray detector
Source: IANS
22/06/2021 2:40:43 PM
LG researcher to head alliance for 6G tech in US LG Electronics said on Tuesday one of its senior researchers will head a working group in a North American mobile technology alliance for 6G technology development. Lee Ki-dong, a principal researcher at LG, was elected the chair of the Applications working group in the Next G Alliance earlier this month, the company said. He has been given a two-year term to lead the working group that will address 6G-related application needs. The Next G Alliance was launched by the US-based Alliance ...
LG researcher to head alliance for 6G tech in US
LG researcher to head alliance for 6G tech in US
Source: IANS
15/06/2021 12:25:00 PM
LG Electronics unveils mobile app for pedestrian safety LG Electronics on Thursday unveiled a mobile application for pedestrian safety as the South Korean tech giant eyes to beef up its presence in the software sector despite its planned departure from the smartphone business. The Soft V2X, with V2X standing for "vehicle to everything," is LG's smartphone solution for pedestrian protection. The app can warn users of collision risks between pedestrians and vehicles, as well as possible car-to-car crashes, to prevent road acciden...
LG Electronics unveils mobile app for pedestrian safety
LG Electronics unveils mobile app for pedestrian safety
Source: IANS
10/06/2021 12:17:07 PM
LG to develop quantum computing tech with Dutch firm LG Electronics has said it has formed ties with Dutch quantum algorithm developer Qu & Co to conduct joint research on quantum computing technology in a move to boost competitiveness in future technologies. Under the research agreement, the two companies will develop quantum computing technology for multiphysic simulations over the next three years. Multiphysics refer to systems that involve simultaneously occurring multiple physical phenomena. Multiphysics simulations are used to a...
LG to develop quantum computing tech with Dutch firm
LG to develop quantum computing tech with Dutch firm
Source: IANS
16/04/2021 10:15:37 AM
Samsung is ordering OLED TV panels from LG Display Consumer electronics giant Samsung is reportedly in talks with LG for a huge order of OLED TV panels, media reported. GSMArena, citing more than one Korean news outlet, reported that Samsung may be close to closing a deal where LG will supply Samsung with millions of these TV panels, further evidencing its shift away from LCD panels in its QLED TVs, which use a combination of a quantum dot filter and an LCD backlight. The reports said that one million panels would be supplied to Samsung...
Samsung is ordering OLED TV panels from LG Display
Samsung is ordering OLED TV panels from LG Display
Source: IANS
11/04/2021 10:57:08 AM
LG to support smartphone OS updates for up to 3 years LG Electronics said on Thursday that it will offer extended software upgrades for its smartphones as the company is set to depart from the mobile business. LG's mobile operating system (OS) update guarantee will be extended by one year. LG's premium smartphone users can now get OS updates for three years, while people using LG's budget handsets can receive upgrades for up to two years. Users of LG Velvet and LG Wing smartphones that were launched last year, for instance, ...
LG to support smartphone OS updates for up to 3 years
LG to support smartphone OS updates for up to 3 years
Source: IANS
8/04/2021 11:38:39 AM
LG partners major telecom operator to develop AI services LG Electronics said on Tuesday that it plans to develop cross-platform artificial intelligence (AI)-powered services with KT Corp, South Korea's major telecom operator, to expand use of its human-like algorithm. A day after announcing to wind up its mobile business, LG sais it plans to commercialise services that support AI platforms from both companies after developing a joint interface. The two companies recently verified compatibility between LG's ThinQ and KT's GiGA Geni...
LG partners major telecom operator to develop AI services
LG partners major telecom operator to develop AI services
Source: IANS
6/04/2021 11:47:07 AM
LG now sets sights on vehicle parts, AI Leaving its ill-fated mobile business behind, LG Electronics will zero in on bolstering promising sectors, like vehicle components, connected devices and artificial intelligence (AI), industry observers said on Monday, hoping that the segments will fill the hole left by its money-losing unit. LG decided to pull out from the mobile phone business after years of dismal performance. The company's mobile communications (MC) division has been in the red since the second quarter of 2015, ...
LG now sets sights on vehicle parts, AI
LG now sets sights on vehicle parts, AI
Source: IANS
6/04/2021 11:41:26 AM
LG's smartphone exit: who stands to gain? LG Electronics' move to exit its loss-making mobile business is expected to create more opportunities for Samsung than its other rivals in the lucrative North American smartphone market, analysts said. LG's U.S. market share currently stands at about 10%, research firms Gartner and Counterpoint estimated, adding it was stronger in markets where it partnered with telecom companies to include its devices as part of a mobile plan. "Apple tends to cater to the higher end of the...
LG's smartphone exit: who stands to gain?
LG's smartphone exit: who stands to gain?
Source: Reuters
6/04/2021 9:45:54 AM
LG Electronics exits from loss-making mobile biz LG Electronics said on Monday that it will withdraw from the mobile business after years of money-losing performance amid intensifying competition with bigger rivals. The South Korean tech powerhouse said in a regulatory filing that its mobile communications (MC) unit will no longer produce and sell handsets after July 31, citing its long slump and fierce competition in the industry. The decision came two months after the company said its MC division is open to "all possibilities&q...
LG Electronics exits from loss-making mobile biz
LG Electronics exits from loss-making mobile biz
Source: IANS
5/04/2021 10:23:58 AM
LG becomes first major smartphone brand to withdraw from market SEOUL - South Korea's LG Electronics Inc said on Monday it will wind down its loss-making mobile division - a move that is set to make it the first major smartphone brand to completely withdraw from the market. Its decision to pull out will leave its 10% share in North America, where it is the No. 3 brand, to be gobbled up by smartphone titans Apple Inc and Samsung Electronics. The division has logged nearly six years of losses totalling some $4.5 billion, and dropping out of the fi...
LG becomes first major smartphone brand to withdraw from market
LG becomes first major smartphone brand to withdraw from market
Source: Reuters
5/04/2021 9:56:02 AM
LG unveils high-end `Ultra Gear 17` laptop South Korean tech giant LG has unveiled a new laptop, Ultra Gear 17, that is priced at 2.24 million won (around Rs 1,45,500). The Ultra Gear 17 sports a massive 17-inch WQXGA display which is an LCD panel with a resolution of 2560 x 1600 pixels. The size of the display provides vivid and clear picture quality, GizmoChina reported on Saturday. The laptop is powered by 11th Gen Intel Core i5 processor paired with 8GB of DDR4 3200MHz memory. There is equally 512GB SSD onboard. Both the RAM...
LG unveils high-end `Ultra Gear 17` laptop
LG unveils high-end `Ultra Gear 17` laptop
Source: IANS
4/04/2021 4:20:02 PM
LG`s $88,500 rollable TV now available in overseas markets LG Electronics said on Friday that it has begun selling its rollable TV in foreign markets as the South Korean tech giant eyes to expand its presence in the high-end TV market. LG's 65-inch rollable TV was first launched in South Korea at a price of 100 million won ($88,500) in October. LG started overseas sales of the ‘SIGNATURE OLED R TV' through its global website on Thursday. The industry's first rollable TV is currently available in 15 countries, including the Uni...
LG`s $88,500 rollable TV now available in overseas markets
LG`s $88,500 rollable TV now available in overseas markets
Source: IANS
2/04/2021 10:16:51 AM
Samsung, LG TVs earn advanced Wi-Fi 6E certification South Korea's two largest TV makers Samsung and LG Electronics said on Tuesday that their premium TVs have obtained a certification for advanced Wi-Fi technology that enables them to deliver faster and more stable connectivity. Samsung said two Neo QLED TV models -- QN900A and QN800A -- became the industry's first TVs to get Wi-Fi 6E (6th Generation Extended) certification from the Wi-Fi Alliance (WFA), the global organisation with more than 850 members driving Wi-Fi adoption and r...
Samsung, LG TVs earn advanced Wi-Fi 6E certification
Samsung, LG TVs earn advanced Wi-Fi 6E certification
Source: IANS
30/03/2021 11:12:05 AM
LG makes a comeback in affordable phone segment with K42 South Korean tech firm LG aims to grow its presence in the affordable smartphone market in India and recently launched K42 with quad rear cameras and a 4,000mAh battery. The smartphone sports a military-grade certified build that is said to have passed nine different categories of the US military defense standard testing, including high and low temperature, temperature shock, vibration, shock and humidity, among others. The affordable device is priced at Rs 10,990 for the lone 3GB RAM...
LG makes a comeback in affordable phone segment with K42
LG makes a comeback in affordable phone segment with K42
Source: IANS
24/03/2021 12:19:52 PM
LG Electronics to step up 6G tech development LG Electronics on Tuesday said it has joined forces with two other partners to develop next-generation 6G network technology. LG signed a partnership with Keysight Technologies, a US-based electronics test and measurement firm, and the Korea Advanced Institute of Science & Technology (KAIST), South Korea's leading research university. Under the agreement, the three sides will cooperate in developing technologies related to terahertz, a key frequency band for 6G communications. T...
LG Electronics to step up 6G tech development
LG Electronics to step up 6G tech development
Source: IANS
23/03/2021 4:04:25 PM
Exclusive: LG hopes to make new battery cells for Tesla in 2023 in U.S. or Europe - sources SAN FRANCISCO - LG Energy Solution aims to build advanced battery cells for Tesla Inc electric vehicles in 2023 and is considering potential production sites in the United States and Europe, two people familiar with the matter told Reuters. Tesla has not yet agreed to a deal that would expand LG's role in its supply chain beyond China, one of the sources said. Last week, the Korean battery maker told Korean reporters it plans to build a U.S. factory where it would make battery cells...
Exclusive: LG hopes to make new battery cells for Tesla in 2023 in U.S. or Europe - sources
Exclusive: LG hopes to make new battery cells for Tesla in 2023 in U.S. or Europe - sources
Source: Reuters
10/03/2021 10:38:07 AM