●Transparent film antenna

LG’s transparent film antenna will be directly applied to automotive glass. This product was designed in cooperation with French safety glass company Saint-Gobain Sekurit.

LG’s transparent antenna design is compatible with various types of glass and vehicle designs and will be available as on-glass or in-glass solutions. The thin-film antenna has a wide range of surface applications, enabling reliable telecommunications performance and providing scalability to handle increased network traffic. LG’s latest telematics innovation is extremely adaptable and provides better connectivity, supporting 5G, GNSS (Global Navigation Satellite System) and Wi-Fi.

This transparent antenna can be seamlessly integrated into the car windshield or glass sunroof. Because it eliminates the need for a housing typically used to house traditional antennas, automakers don’t have to make any design concessions when developing new models. The film antenna incorporates more than 80 of LG’s patented innovations, including the design capability to make antenna patterns transparent and transparent electrode technology. LG worked with Saint-Gobain Safety Glass to develop a method of applying transparent antennas to glass to improve product integrity. For more technical features of this product, please stay tuned to Autohome’s 2024CES report.

● Cyber Security Management System (CSMS) Cockpit Platform

LG Electronics and Cybellum will launch their Cybersecurity Management System (CSMS) Cockpit platform to automotive OEMs at CES 2024.

As the WP.29 UNECE R155 cybersecurity regulations (an important regulation for intelligent connected vehicles issued by the United Nations World Vehicle Regulations Coordination Forum) continue to take effect, automotive cybersecurity is an increasingly important field and will become the center stage in the mobile travel field. From July 2024, all vehicles produced by OEMs must meet newly developed cybersecurity standards in order to obtain type approval, which is a prerequisite for selling vehicles in 54 countries including EU member states, the United Kingdom, Japan and South Korea. condition. LG and Cybellum’s CSMS Cockpit is a complete platform that solves the many challenges of automotive cybersecurity management, supporting OEMs as they prepare for the coming changes.

The CSMS Cockpit platform can quickly identify security vulnerabilities, proactively monitor and take preventive measures to eliminate potential threats. LG and Cybellum’s solution enables the thorough analysis of vehicle components throughout their entire life cycle (approximately 20 years), generating and managing a comprehensive database covering development and real-world use. The platform automatically resolves security issues and tracks response efficiency, providing real-time risk detection and inspection protocols for individual components. CSMS Cockpit acts as a control center for product security (from monitoring to management), allowing automakers to promptly assess and address any component-related security threats. In addition, it proactively assesses newly discovered threats and their possible impact on manufacturer parts, thereby enhancing overall security and reliability.

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Net profit in the third quarter was 485.2 billion won, compared with 336.5 billion won in the same period last year, a year-on-year increase of 44%.

It is understood that the expansion of B2B business, including auto parts and HVAC systems, has greatly boosted revenue growth, accounting for about 35% of total revenue, and the goal is to increase B2B revenue to more than 40 trillion won by 2030.

LG Home Appliances & Air Solutions Company’s third-quarter revenue was 7.46 trillion won and operating profit was 504.5 billion won. Plans to capitalize on trends in electrification and decarbonization of HVAC systems to accelerate its B2B growth momentum.

LG Auto Parts Solutions posted revenue of 2.5 trillion won and operating profit of 134.9 billion won in the third quarter, the highest in both revenue and operating profit in the third quarter, and is expected to have a backlog of 100 trillion won by the end of the year. The business unit’s annual revenue is expected to top 10 trillion won for the first time this year, becoming a key driver of LG’s overall growth.

LG Home Entertainment reported third-quarter revenue of 3.57 trillion won and operating profit of 110.7 billion won. The number of TVs running webOS, the foundation of LG’s content and services business, is expected to reach 300 million by 2026.

LG Business Solutions reported third-quarter revenue of 1.33 trillion won and an operating loss of 20.5 billion won.

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The results show that the company’s third-quarter consolidated revenue was 20.7 trillion won (currently about RMB 111.78 billion), and operating profit was 996.7 billion won (currently about RMB 5.382 billion), both of which are the second-highest Q3 figures in the company’s history, and operating profit increased by more than 30$ compared with the same period last year as well as the second quarter of 2023.

LG Electronics’ automotive solutions company continued its rapid growth trend in the third quarter, with order backlog expected to reach 100 trillion won by the end of the year, while supply chain management remained stable and growth accelerated. In terms of profitability, there are also economies of scale due to sales expansion. The company expects annual sales to exceed 10 trillion won for the first time this year. LG is accelerating the establishment of regional production bases in response to the shift in demand from major global customers to electric vehicles.

LG Home Entertainment is accelerating its business transformation from a product-oriented business to a media and entertainment platform as the content and service business continues to grow. To this end, the company recently upgraded its TV operating system for the first time in the industry to expand the content experience for customers, in addition to expanding its partnerships with various content providers. By 2026, the number of TVs powered by webOS, the foundation of the content and services business, is expected to reach 300 million.

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The financial report shows that the company’s comprehensive revenue in the third quarter was 20.7 trillion won (Note: currently about 111.78 billion CNY), and operating profit was 996.7 billion won (currently about 5.382 billion CNY), both of which were the highest in the company’s history. The second-highest Q3 data, and operating profit increased by more than 30% compared with the same period last year and the second quarter of 2023.

LG Electronics’ Automotive Solutions Company continued its rapid growth trend in the third quarter, with an order backlog expected to reach 100 trillion won by the end of the year, while supply chain management remained stable and growth accelerated. From a profitability perspective, there are also economies of scale due to sales expansion. The company expects annual sales to exceed 10 trillion won for the first time this year. LG is accelerating the establishment of regional production bases as demand from major global customers shifts to electric vehicles.

LG Home Entertainment Co. is accelerating its business transformation from a product-focused business to a media and entertainment platform as its content and services business continues to grow. To this end, in addition to expanding cooperation with various content providers, the company recently upgraded its TV operating system for the first time in the industry to expand customers’ content experience. The number of TVs powered by webOS, the foundation of the content and services business, is expected to reach 300 million by 2026.

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In its new plan, LG Electronics has made the auto parts business one of its most important directions of development, and the company plans to rank among the top 10 global auto parts makers by 2030 and more than double its related business revenue to 20 trillion won (currently about 111.4 billion won). In addition, LG Electronics plans to strengthen its service platform for its home appliance and TV business to generate more recurring profits, such as media subscription and rental revenues.

LG Electronics CEO William Cho said in a press release, “LG Electronics will transform its business portfolio to boost profits through the growth of its B2B business and shift to the service business. We will not be satisfied with our past success in the home appliance sector.”

LG Electronics also plans to enter new markets such as electric vehicle charging and digital healthcare, and in order to achieve its goals, the company said it will actively consider joint ventures, mergers and acquisitions, etc. LG Electronics is aiming to reach an operating profit margin of 7% by 2030.

In 2022, LG Electronics posted consolidated sales of about 65 trillion won (currently about RMB 362.05 billion), a figure that excludes its subsidiary LG Innotek, which produces device components such as smartphone camera modules.

LG Electronics said it expects its backlog of orders for its fast-growing Automotive Component Solutions business, the company’s newest business unit, to be close to 100 trillion won (currently about RMB 557 billion) by the end of the year, with the revenues spread out over many years to come. The Auto Parts Solutions unit, which also makes infotainment systems and lamps, turned a profit last year and posted quarterly sales of 2.4 trillion won (currently about RMB 13,368 million) in January-March this year.

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The company’s revenue in Q2 reached a record high of 20 trillion won, and operating profit jumped 12.7% year-on-year.

LG Electronics’ first-half sales exceeded 40 trillion won for the second consecutive year and operating profit exceeded 2 trillion won for the third consecutive year, ranking the second and third highest in the history of the same period, but the second quarter operating profit was slightly lower than the market expectation.

In this regard, LG Electronics said that the actual operating profit was higher than the market expectation because the cost of the quarter included a one-time charge for voluntary retirement of employees. According to an analysis by Yonhap News Agency, LG Electronics’ strategy of adjusting its inventory in advance, mainly selling high-end products and improving costs in areas such as home appliances and display panels worked, and the proportion of business-to-business transactions (B2B) such as auto parts increased, driving the results beyond expectations.

It was previously reported that in contrast to LG, another South Korean giant Samsung Electronics’ second-quarter operating profit plunged 95.7% to 600 billion won, though it was still higher than the 96% drop previously expected by the market.

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LG’s new Smart Cam is a full HD camera with a resolution of 1920*1080, built-in dual microphones, and is compatible with LG Smart TVs running webOS 22/23.

LG says users of the new Smart Cam can use the RemoteMeeting feature to contact clients, colleagues or family members. Note: RemoteMeeting is a web-based video conferencing service that works on multiple devices such as PCs, laptops, and mobile phones.

LG has also launched Exercite, a fitness app that uses advanced AI motion and movement recognition algorithms to accurately track the user’s body during each exercise through smart cameras.

The app also provides real-time feedback to users to optimize their body movements and avoid bad posture during exercise.

LG’s new Smart Cam is currently on sale in South Korea and the United States, priced at $99.

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LG StanbyME Go can be used not only in traditional indoor spaces such as living rooms and bedrooms, but also in outdoor places such as parks and campgrounds. The product adopts an integrated design that integrates a screen, stand, speaker, etc., similar to a portable bag. There is a handle on the top of the case for easy carrying and moving. Accessories such as remote controls and power cords can also be stored inside the box. The built-in battery provides up to 3 hours of use without external power.

The LG StanbyME Go has also passed 11 test items (Low Pressure 2 Types, High Temperature Type 2 Types, Low Temperature Type 2 Types, Dust, Vibration, Salt Spray, Shock, Drop) of the U.S. Department of Defense for superior durability. The screen can be switched on and off simply by opening or closing the case lid without any assembly or installation process.

The 27-inch touchscreen supports up to 90 degrees of tilt (Tilt), up to 90 degrees of clockwise rotation (Rotating), and up to 18 cm of height adjustment. Customers can rotate the screen horizontally or vertically according to the viewing environment, or use the flat table mode (Table Mode), and LG Electronics also provides unusual content such as customized board games and themed skins for the table mode. Users can play board games such as chess and find differences by touching the screen, or apply special skins to turn it into their own digital turntable for a retro music experience.

Equipped with speakers with 20 watts (W) output, the product can automatically emit the best sound according to the screen mode, and supports Dolby’s latest video technology and stereo technology such as Dolby Vision and Dolby Atmos, bringing an immersive viewing experience.

The product also has a variety of convenient features. It is equipped with webOS, LG Electronics’ unique smart TV platform, and supports functions such as Airplay and screen mirroring, which can easily share the screen with iOS and Android OS devices. In addition, it also supports voice recognition function, users can change channels, adjust volume and search content with only voice when cooking at home, cleaning or outdoor activities such as setting up tents while camping.

LG Electronics plans to gradually sell LG StanbyME Go online and offline starting from the 7th of next month, priced at 1.17 million won.

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About a year ago, the company acquired a 60% stake in South Korean EV charger maker AppleMango, which was founded in 2019 and has advanced technology in making slow and fast chargers for home and commercial use.

LG Electronics said on Thursday that it has renamed AppleMango to HiEV Charger.

The acquisition aims to strengthen LG Electronics’ business portfolio by creating synergies with its existing EV parts business.

The electric vehicle parts business, one of LG Electronics’ future growth drivers, has made progress in recent quarters.

According to the company, with the explosive growth of electric vehicles, as of the end of April, the total number of orders it received for electric vehicle component solutions such as in-vehicle infotainment systems and headlights has reached 80 trillion won.

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Preliminary calculations show that LG Electronics’ 2022 Q4 operating profit was 65.5 billion won, down 91.2 percent from a year earlier. LG said the plunge was due to higher raw material prices, increased logistics and marketing costs, and a sharp drop in exchange rates.

LG Electronics’ fourth-quarter revenue rose 5.2 percent year-on-year to 21.85 trillion won, a quarterly high, but the company did not release net income figures.

In 2022, LG Electronics’ operating profit is estimated at 3.54 trillion won, down 12.6 percent year-on-year; annual sales rose 12.9 percent year-on-year to a record 83.46 trillion won, while net profit figures were not available. LG Electronics shares closed up 0.89 percent to 90,700 won on the Seoul Stock Exchange today, underperforming the 1.12 percent gain in the KOSPI index.

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According to a survey by Yonhap Infomax, a financial data company owned by Yonhap News Agency, its operating profit was 79.5 percent lower than the average estimate.

LG Electronics shares closed up 0.89 percent to 90,700 won on the Seoul Stock Exchange on Friday, underperforming the 1.12 percent gain in the Korea Composite Stock Index.

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