LG boots business in global hospitality TV market

[THE INVESTOR] LG Electronics unveiled OLED TVs systematically adjusted for the hospitality industry at a global expo, the company’s spokesperson said on July 4. The organic light-emitting diode manufacturer recently displayed its hotel TV models, 55- and 65-inch class televisions at the 2016 Hospitality Industry Technology Exposition & Conference held in New Orleans. The razor sharp design combined with its high definition picture quality, supported fully by LG’s OLED technology is set to provi

July 4, 2016

LG to shut down auto engineering business

[THE INVESTOR] LG Electronics will reportedly cease its auto engineering business this year.The tech giant has been running the business for the past 10 years, designing and manufacturing car frames for carmakers.Car companies in emerging nations including Indonesia and India are major customers of the Korean firm. LG Electronics’ lightweight vehicle frame / LG Electronics　The move is said to be aimed at quelling rumors that the company would jump into the automobile business in earnest. Having

July 4, 2016

LG Electronics to announce earnings guidance on July 8

[THE INVESTOR] LG Electronics is expected to announce its second-quarter earnings guidance on July 8. Local analysts estimate the company’s operating profit to stand at about 594.7 billion won (US$517 million). The Korean tech giant started releasing its quarterly earnings guidance since the first quarter this year. LG Electronics’ Seoul headquartersAnalyst say that despite the lukewarm sales of its flagship smartphone G5, the company’s robust TV and appliance sales could make up for the operati

July 4, 2016

LG’s appliance business expected to see record profits in Q2

[THE INVESTOR] LG Electronics is expected to post more than 10 percent operating profit ratio in its appliance business in the second quarter on upbeat sales of more lucrative high-end products, analyst estimates found on July 1. The home appliance and air solutions division enjoyed record sales and operating profit to sales ratio in the first quarter. Especially the operating profit ratio soared to 8 percent in the April-June period and the figure is expected to exceed 10 percent in the second

July 1, 2016

LG Uplus banned from new bids on bribery scandal

[THE INVESTOR] LG Uplus, the nation’s No. 3 telecom carrier, has been suspended from bidding for government orders for the next three months.According to the Office of Supply on June 30, the punitive measure took effect on June 28 following the company’s recent defeat in a legal dispute with the Ministry of National Defense. In 2012, a military officer was sentenced to a prison term after the Defense Ministry found him guilty of taking bribes from LG Uplus in return for business favors. The mini

June 30, 2016

LG tops US$2,000-plus premium TV sales in Q1: IHS

[THE INVESTOR] LG Electronics topped high-end TV sales in the first quarter, with its global market share exceeding a record 39.4 percent. According to the market research firm IHS, the Korean tech giant logged US$273.9 million in US$2,000-plus TV sales in the January-March period. The ratio of operating profit to net sales also soared to 10 percent, which compares to an industry average of 5 percent. Industry watchers say the current sales momentum is expected to continue in the second quarter.

June 29, 2016

LG to recall air purifier filters containing toxic chemicals

[THE INVESTOR] LG Electronics said Monday that it would launch a recall campaign for air purifier filters after some products were found to contain Octylisothiazolinone (OIT), a chemical substance toxic to humans. “A small amount of OIT was found in 3M’s filters for fine particles, which were fitted in LG’s air purifiers and air conditioners produced after 2012,” the company said. LG Electronics’ air purifiers.Right after the toxic filter issue surfaced recently, LG has requested air filter make

June 20, 2016

LG launches ‘Mosquito Away TV’ in India

[THE INVESTOR] LG Electronics on June 16 announced the launch of a new brand of television, called “Mosquito Away TV,” in India where concerns about mosquito-borne diseases like malaria, Zika and dengue fever are high. The new TV set generates ultrasonic waves so that mosquitos are repelled and won’t flock to the TV screen. The ultrasonic waves, however, do not bother viewers, the company said. LG also said it plans to launch the brand in other Southeast Asian markets.The Korean tech giant said

June 16, 2016

LG to nurture white hat hackers

[THE INVESTOR] Tech behemoth LG Electronics has rolled up its sleeves to nurture “white hat hackers,” or computer security experts. The leading electronics firm said it signed a memorandum of understanding with the Korea Information Technology Research Institute to foster security experts, on Monday at Best of Best education center, an educational institute for information technology security, in Gangnam. LG Electronics’ Min Kyung-oh (left) and Yoo Joon-sang, the president of the Korea Informati

June 14, 2016