LG Electronics’ Post

One very interesting statement in the announcement is “The Company’s qualitative growth was driven by changes in its business models, which include home appliance subscriptions and Direct-to-Consumer sales. Revenue from home appliance subscriptions surged by over 75 percent compared to the previous year, nearing KRW 2 trillion.” It’s truly Interesting to see the subscription business and consumer direct sales grow by 75%. The most important question for LG in the upcoming period is going to be How the subscription new business model will perform in new regions like Thailand and India and its portion of the business size over the next 5 years. It will be very interesting to see if 1) it leads consumers to spending more by subscribing to higher end appliances they won’t usually buy because of the high upfront investement cost. 2) Or that kind of business model is limited to niche segment Personally, I think with this kind of economic conditions consumers in reality are not very much interested in the full upfront cost of investement but they are also fighting the already established concept of, it is an asset for me that should live for 10-15-20 years depending on the region perspective. Let me know what you think in the comments

LG Electronics has announced second-quarter 2024 consolidated revenue of KRW 21.69 trillion and (€14.4bn) operating profit of KRW 1.20 trillion, reflecting an 8.5 per cent year-over-year increase in revenue and a 61.2 per cent surge in operating profit. These figures mark new records for the highest second-quarter revenue and operating profit in the company’s history. https://lnkd.in/g7-RuqaS

LG announced first-quarter 2024 consolidated revenue of KRW 21.09 trillion and operating profit of KRW 1.33 trillion. The company’s home appliance sector demonstrated global leadership, achieving record-breaking revenue and double-digit operating profit margins. The EV components sector, a key driver of future growth, continued its steady expansion. Both the TV and business solutions sectors experienced year-on-year sales growth and returned profits compared to the previous quarter. https://lnkd.in/dCHgpFx8

LG Electronics has achieved its highest Q3 revenue on record at KRW 22.18 trillion, with a strong operating profit of KRW 751.9 billion. Despite market challenges like rising costs and geopolitical tensions, LG’s strategic shift to B2B growth and business model transformation has helped sustain profitability. Looking ahead, LG plans to grow its appliance subscription and D2C channels, expand its B2B services, and enhance platform-based content. LG’s Q3 gains in home appliances and vehicle solutions, despite some cost pressures, underscore its competitive adaptability. Read More: https://lnkd.in/gWvnR_YX #LG #Earnings #Innovation #BusinessGrowth #Electronics

LG Electronics, South Korea’s leading home appliance maker, on Wednesday estimated its fourth-quarter operating profit decreased more than 53 percent from a year earlier due to global economic uncertainties. https://lnkd.in/gQBc6TPc

🇩🇪 For the European market, #IFA remains the go-to destination for home tech innovation. 📹 This video from AbdulRahman Hadi on our #ConsumerTech team does a great job of calling out some of the highlights of this year’s show. 🏠 What stood out to me was the rise of modular and multi-use devices. My guess is that these sorts of products will only become more relevant as increased urbanisation and living costs push many of us into smaller living spaces. 🔗 For the full report, head over to WGSN.

Discover comprehensive Samsung oven troubleshooting tips and solutions. Learn how to diagnose common issues, perform repairs, and maintain optimal performance. Get expert advice to keep your Samsung oven running smoothly and efficiently. #SamsungOven #OvenTroubleshooting #KitchenAppliances #HomeRepair #OvenRepair #SamsungSupport #DIYRepair #KitchenHacks #ApplianceMaintenance #CookingTips #HomeImprovement

LG Electronics LG Soft India #H. J. Jeon #HongJuJeon LG India LG Home Appliances India LG SERVICE CENTER LG Services Group my service request number: RPN240810023617 Dear LG MD and CEO, I am writing to bring to your immediate attention a serious issue I have encountered with the service of my LG air conditioner. My AC stopped working on Saturday, and despite registering a complaint, the service experience has been extremely disappointing. After registering my complaint, an engineer called me within an hour. I informed him that the indoor unit display was showing CH05. He inquired if I had serviced the AC from another company. I explained the situation: - Two weeks ago, I had a water leakage issue and booked a service. The engineer who came said there was no issue and promised to do the service the next day. - The following day, he called to inform me that the water wash service would cost over 1100 rupees. When I mentioned that other companies charge between 500 to 600 rupees, he suggested I cancel and use another service provider. - I followed his advice and got the service done by Urban Company, who only opened the fan fiber fin to drain water. Upon hearing this, the engineer stated that my warranty would not cover the issue because another company had serviced the AC. I was heading to the office and mentioned I would be free the next day. He insisted I would need to pay regardless, and when I declined, he asked for the cancellation code, which I provided. I booked another service for Sunday. This time, the engineer reiterated that the warranty would not cover the PCB board because of the previous service by Urban Company. I argued that a simple water wash done 10-12 days ago should not affect the warranty. If LG allows Reliance Digital to sell their AMC, and they have installed and serviced my AC twice as per the AMC, why is there an issue now? I own two LG ACs, and this experience has made me reconsider my choice. If LG cannot provide reliable service, I will have to advise my friends against purchasing LG products. I am reaching out to higher officials to acknowledge my situation. If this issue is not resolved promptly, I will have to explore other options.

Our final analysis of the combos (for now)

The Chinese government’s recent subsidy on TV and consumer electronics is already making waves, boosting demand and stabilizing the rapidly falling prices of LCD open cells in Q3 2024. Curious about how this program is impacting the market? Omdia's Senior Research Director, David Hsieh 謝勤益 , breaks it all down in his latest blog. https://lnkd.in/eTJPp_aW #TVIndustry #LCD #ConsumerElectronics