5 November 2024, Tue |
12:09 PM
Under the theme of Life’s Good, CEO William Cho shared LG Electronics’ continuous efforts to create innovation for a better life and ensure a sustainable future for all at the press conference, LG World Premiere, at the Mandalay Bay Convention Center in Las Vegas, Nevada, USA
Affirming the company’s commitment to take on new challenges despite any uncertainties, Cho opened the show by stressing that LG has known and truly believed that the answer is always with the customer. “The start and end of all innovation are our customers, and it is with this innovation that we aim to put a smile on their faces,” continued CEO Cho.
CEO Cho highlighted LG’s commitment to providing new value to its customers through the introduction of groundbreaking innovations, such as LG OLED, which has changed customers’ viewing experience completely.
LG OLED, which is currently commemorating its tenth anniversary, continues to set the bar for picture quality and unmatched user experiences. The company is actively collaborating with partners to introduce a variety of new interactive services through LG TVs, including the online educational platform MasterClass, fitness app MaxPro, and metaverse service Sansar, to further enhance the customer experience and give TV users the ability to redefine the viewing experience.
CEO Cho shed light on the mobility sector, where, after much hard work, the company has established itself as one of the auto industry’s preferred innovation partners with its vehicle component solution business. LG has joined hands with some of the world’s most-recognizable auto brands, leveraging its customer insight from consumer electronics, advanced technologies and diverse areas of expertise to drive the in-vehicle experience forward.
Mr Cho also discussed LG ThinQ UP, a brand-new class of “evolving” household appliances that offer distinctive upgradeability and personalisation choices. The innovative LG refrigerator with MoodUPTM, which can change colour to fit users’ preferences, moods, or kitchen décor, is one of the premium lineup’s ground-breaking offerings.
CEO Cho then underlined the company’s aim to provide ‘First’, ‘Unique’ and ‘New’ experiences across all its products and solutions to provide a better life for all. To expand the customer experience in various fields, the company is also operating various in-house programs to foster innovators, encouraging LG employees to bravely adapt to new challenges.
At CES, LG unveiled some products created under the LG Labs project, the company’s new initiative that includes products, services, and marketing initiatives based on experimental ideas and creative concepts from both inside and outside the company.
‘Hover Gym’, a fitness solution utilizing motor control technology that allows users to exercise without separate dumbbells; ‘excicle’, a home workout solution delivering an exceptional indoor cycling experience; ‘brid.zzz’, an optimal sleep care solution that senses brain waves to create beats that help users relax; and ‘pluspot’, a service platform that provides rewards when personal transportation devices such as electric bicycles and electric kickboards are mounted on its wireless charging stations.
LG is expanding its business portfolio to include fresh industries including digital health, EV charging, and content services for the webOS platform. In addition, the corporation is working with startups through LG NOVA and boosting investment in key “future” technologies like AI and 6G. (LG North American Innovation Center).
The CEO also emphasised the company’s ongoing attempts to form strategic alliances with leading figures from a variety of industries. The business has collaborated closely with numerous esteemed partners, particularly in the content sector, to get more content that clients may enjoy.
At the conference, Cho introduced one of LG’s key partners in content services – Tom Ryan, President and CEO of Paramount Streaming. Mr Ryan made an appearance to highlight the combined efforts by the two companies to offer an incredible experience to tens of millions of customers worldwide. “Pluto TV, the leading free streaming television service, is expanding our channel integration for LG Channels, adding over 100 channels this quarter globally,” said CEO Tom Ryan. Mr Ryan concluded by stating that the two companies will continue to expand their partnership and broaden their capabilities together in 2023.
Concluding his presentation, Cho reiterated LG’s steadfast commitment as a responsible corporate citizen to realize a sustainable future, emphasizing the company’s focus on creating a better future for all. Efforts include the Global IT Challenge for Youth with Disabilities (GITC) which, since 2011, has empowered more than 4,000 youth to build skills in technology to eliminate the digital divide for persons with disabilities.
The CEO also referred to the firm’s commitment to enhancing LG’s goods and services’ usability for those with disabilities and the elderly. The “Disabled Advisory Group” of LG, which has been in operation since 2021 and is made up of persons with a range of abilities and accessibility experts, serves as a resource for the company in developing barrier-free goods that are practical for everyone to use. The business has taken several steps to improve accessibility in South Korea, including creating product manuals with audio and sign language guidance, providing braille labels for appliances, and running sign language counselling centres.
Aligned with this, the CEO announced the four finalists of the inaugural LIFE’S GOOD AWARD, an innovation challenge set up by the company to promote its Life’s Good vision and empower innovators eager to make a positive impact on people’s lives and the planet. The finalists – Day1Lab, Dot Inc., NONA Desalination and SOLUTUM – will receive LG’s support to help fine-tune and launch their inventive solutions to create a better life for all. After the four teams pitch their ideas for a final time on January 16 at LG Science park in Seoul, Korea, a total prize money of USD 1.05 million will be differentially divided amongst the four winners, according to award ranking.
