Page 6 - Lg Electronics

LG Electronics Q1 profit down 23% at 1.49 trn on dampened consumer demand

Sales decreased 2.6 per cent to 20.41 trillion won. Net profit came to 546.5 billion won, down 61 per cent from a year earlier

LG starts manufacturing dual inverter air conditioner compressors in India

South Korean consumer durables maker LG Electronics on Monday said it has started manufacturing Dual Inverter Air Conditioner Compressors at its plant in Greater Nodia. LG Electronics India, which is among the leading players in the residential air-conditioning market here, has invested around Rs 100 crore in the new facility in Uttar Pradesh. The new line has a capacity to roll out one million units per year, the company said. According to the company, it has 'become the first brand to manufacture its own Dual Inverter Air Conditioner compressor in India". Hyunjin Lee, Manufacturing MD of LG Electronics India, said this continuous expansion is a step towards making self-reliant India a reality. LG Electronics aims to make India a powerful manufacturing hub. "We have invested approximately Rs 100 crore in setting up this Air Conditioner Compressor manufacturing line and are continuously working towards strengthening our local operations," he added. In January, LG Electronics Indi

LG Energy to invest $5.5 bn to build standalone battery plants in US

LGES, the world's second-largest battery maker after China's CATL, had withdrawn the plan a few months later, citing a spike in costs amid runaway global inflation

Import dependency for AC compressors may fall to 15% by 2027-28

Domestic manufacturing from month-end under PLI scheme to lower dependence from 85%

Retail electronics firms scale up inventory, anticipating demand surge soon

This buildup is owing to the fact that demand peaked before Diwali and then drastically declined afterwards due to high inflation and thus retailers cut down inventory levels

Tech giant LG Electronics showcases NFT artworks via OLED evo TVs

An NFT is a non-interchangeable unit of data stored on a blockchain, which can be owned and traded as a digital item

LG Electronics Q4 profit collapses on slumping demand, rising cost

But LG's electric vehicle (EV) parts business made a turnaround 10 years after it entered the market

LG invests Rs 200 cr at Pune facility; starts local mfg of refrigerators

LG Electronics India has invested around Rs 200 crore at its Ranjangaon, Pune-based facility to set up a new line for manufacturing the premium range of side-by-side refrigerators

LG Electronics December-quarter operating profit down 91.2% y-o-y

Revenue increased 5.2 percent on-year to 21.85 trillion won, marking a quarterly high, according to the earnings guidance released by the company

CES 2023: LG Signature OLED M3 TV with 'Zero Connect Technology' unveiled

The LG Signature OLED M3 TV comes with a separate 'Zero Connect box', which is a wireless solution capable of real-time video and audio transmission at up to 4K resolution at 120Hz refresh rate

LG Electronics announces appointment Hong Ju Jeon as MD for India business

South Korean consumer electronics major LG on Wednesday announced the appointment of Hong Ju Jeon as the Managing Director of its India business. Former managing director of LG Electronics India Young Lak Kim has been promoted to the position of Executive Vice President and will be joining as Korea Sales & Marketing Head, a company statement said. Before this, Jeon was in charge of the Gulf region as subsidiary President of LG, it added. Additionally, he held other senior positions at LG Electronics as managing director of Iraq, Jordan, Lebanon and Syria subsidiaries. "India is a growing economy and is an interesting market with vast demographics therefore, we aim to further strengthen our consumer base by introducing a product portfolio that is developed basis the insights of the consumers," Jeon said. LG Electronics India, a wholly-owned subsidiary of LG Electronics, South Korea, was established in January 1997. It operates in consumer electronics, home appliances, HVAC, IT ...

LG Innotek to reveal new camera module at 'Consumer Electronics Show 2023'

Digital zoom magnifies the size of the image to have serious quality degradation, whereas the optical zoom camera moves the lens directly to zoom the subject which maintains high image quality

LG Electronics India FY22 PAT falls 23% to Rs 1,175 cr; total income up 10%

LG Electronics India's profit after tax for FY22 declined 23.17 per cent to Rs 1,174.7 crore, according to financial data accessed by the business intelligence platform Tofler. However, its total income rose nearly 10 per cent to Rs 17,171.3 crore in FY22. The company, which is not a publicly listed entity, had posted a profit after tax of Rs 1,529 crore, and its total income was Rs 15,621.1 crore for the financial year that ended in March 2022. LG Electronics India's profit before taxes was Rs 1,589.8 crore, and its tax expenses stood at Rs 415.1 crore in 2021-22. A wholly-owned subsidiary of South Korea-based LG Electronics, it is a formidable brand in India, operating in various segments, such as consumer electronics, home appliances, HVAC and IT hardware. LG Electronics India's total revenue from the home appliances and air solution division was Rs 12,419.5 crore in FY22. Under the home appliances and air solution division, it sells products like refrigerators, washing machin

After Android certificate leak, Samsung, LG phones at malware attacks risk

Samsung and LG phones are reportedly at risk of malware attacks because of a leaked Android certificate.

LG develops 'Invisible' Thin Actuator Sound Solution for automobiles

LG Display has announced that it has developed the "Thin Actuator Sound Solution", a new sound technology for automobiles.

Apple to use LG-supplied OLED screens for iPhone 14 Pro, iPhone 14 Pro Max

For the past two years, Samsung Display has supplied its LTPO OLED to Apple for use in mobile devices

LG unveils 32-inch 4K Smart Monitor with AirPlay 2 support, built-in webOS

The new monitor comes in a white finish instead of the usual black plastic bezels. Its 32-inch 4K panel is supported by a pair of HDMI ports as well as single USB-A input and Gigabit Ethernet

LG Electronics unveils world's largest 97-inch OLED TV at US trade show

LG Electronics said it has showcased the world's largest organic light-emitting diode (OLED) TV at the latest trade show in the US in a bid to target the premium TV market in North America

LG launches wearable air purifier to ensure clean air for the user

The Puricare wearable air purifier's face guard uses medical grade silicon that has been thoroughly checked for safety

New LG platform Art Lab lets users buy, sell NFTs through its premium TVs

LG Electronics on Monday launched its very own non-fungible token (NFT) platform called LG Art Lab compatible with its premium TVs