Tuesday, February 7, 2023

LG Reveals Its Commitment to Continuous Innovation at CES

LG Electronics (LG) held its press conference, the LG World Premiere, at the Mandalay Bay Convention Center in Las Vegas, Nevada, USA. Under the theme Life’s Good, CEO William Cho shared the company’s ongoing efforts to create innovation for a better life and guarantee a sustainable future for all.

Affirming the company’s commitment to meeting new challenges despite any uncertainty, Cho began the show by emphasizing that LG knows and truly believes that the answer always lies with the customer. “The beginning and end of all innovation is our customers, and it is with this innovation that we aim to bring a smile to their faces,” continued CEO Cho.

Customer-centric innovation for a better life

CEO Cho highlighted LG’s commitment to bring new value to its customers through the introduction of revolutionary innovations such as LG OLED, which has completely transformed the viewing experience for customers. Now celebrating its 10th anniversary, LG OLED continues to set the industry standard for picture quality and an unprecedented consumer experience. To further enhance the customer experience and allow TV users to redefine the viewing experience, the company is actively working to introduce several new interactive services through LG TVs, including Masterclass Online education platform, the MaxPro training app, and the Sansar Metaverse service.

CEO Cho highlighted the mobility sector, where, after a lot of hard work, the company has established itself as one of the automotive industry’s preferred innovation partners with its Vehicle Component Solutions business. LG has collaborated with some of the world’s most renowned automotive brands, leveraging its customers’ knowledge of consumer electronics, advanced technologies and diverse areas of expertise to drive the in-vehicle experience.

In addition, Mr. Cho also discussed the LG ThinQ UP, a new ‘evolved’ range of home appliances that offers unique upgrade and customization options. The premium range includes revolutionary products such as LG refrigerators with MoodUp, which can change color to suit users’ taste, mood or kitchen decor.

Business of the future to enhance customer experience CEO Cho outlines company’s goal to deliver ‘first’, ‘unique’ and ‘innovative’ experiences across all its products and solutions to deliver a better life for all . To expand customer experience to more regions, the company is also conducting various internal programs to nurture innovators, while encouraging LG employees to bravely take on new challenges.

At CES, LG introduced some products developed under LG Labs, the company’s new project that includes products, services and marketing activities based on experimental ideas and creative concepts inside and outside the company; ‘Hover Gym’, a fitness solution using motor control technology that allows users to exercise without separate dumbbells; ‘Xical’, a home training solution that provides an exceptional indoor cycling experience; ‘brid.zzz’, an optimal sleep care solution that detects brain waves to create rhythms that help users relax; and ‘Pluspot’, a service platform that offers rewards when personal transport devices such as electric bicycles and electric skateboards are mounted on wireless charging stations.

LG is expanding its business portfolio for the webOS platform to cover new areas such as electric vehicle (EV) charging, digital health and content services. At the same time, the company is increasing investment in key ‘future’ technologies including AI and 6G, as well as collaborating with startups through LG NOVA (LG North American Innovation Center).

The CEO also highlighted the company’s continued efforts to establish strategic alliances with world leaders from a wide range of industries. Especially in the content industry, the company has teamed up with many valuable partners to ensure more content for customers to 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 appeared to highlight the joint efforts of the two companies to deliver incredible experiences to millions of customers around the world. “Pluto TV, the leading free TV streaming service, is expanding our channel integration for LG Channels, adding more than 100 channels this quarter,” said CEO Tom Ryan. Mr. Ryan concluded by saying that the two companies will continue to expand their partnership and expand their capabilities together in 2023.

promising a better future

Concluding his presentation, Cho reiterated LG’s unwavering commitment to achieving a sustainable future as a responsible corporate citizen, emphasizing the company’s focus on creating a better future for all. Efforts include the Global Youth IT Challenge (GITC) with Disabilities, which since 2011 has empowered more than 4,000 youth to develop technology skills with the goal of closing the digital divide for people with disabilities.

The CEO also mentioned the company’s promise to increase the accessibility of LG products and services to ensure easy access by the disabled and the elderly. Inspired by feedback from LG’s ‘Disability Advisory Group’, operational since 2021 and comprising members with varying abilities and accessibility experts, the company continues to introduce barrier-free products that are easily accessible by everyone. Can be done. In South Korea, the company has implemented various measures to strengthen access, such as developing product manuals that include audio and sign language guides, distributing Braille stickers for home appliances, and operating language counseling centers.

In line with this, the CEO announced the four finalists for the inaugural Life’s Good Award, established by the company to further its vision of life’s good and empower innovators who want to positively impact people’s lives and the planet. An innovation challenge made for. Finalists Day1Lab, Dot Inc., NONA Desalination and SOLUTUM will receive support from LG to help refine and launch their innovative solutions to create a better life for all. The total prize money of $1.05 million will be split equally among the four winners based on the ranking of the prizes after the four teams presented their ideas for the final time on January 16 at the LG Sciencepark in Seoul, Korea.

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