At ‘LG World Premiere’, CEO Cho Shares Vision for Innovation Designed to Make Customers’ Lives Better
LG Electronics (LG) today held its press conference, LG World Premiere, at the Mandalay Bay Convention Center in Las Vegas, Nevada, USA. Under the theme of Life’s Good, CEO William Cho shared the company’s continuous efforts to create innovation for a better life and ensure a sustainable future for all.
Reiterating the company’s dedication to tackling new challenges in spite of any uncertainities, CEO Cho began the press conference by emphasizing LG’s steadfast belief that the key to success is always listening to its customers. “Innovation starts and ends with our customers and it is through this innovation that we strive to bring joy and satisfaction to them,” added CEO Cho.
Customer-Centered Innovations for a Better Life
CEO Cho emphasized LG’s commitment to providing new value to customers through the implementation of groundbreaking innovations such as LG OLED, which has transformed customers’ viewing experience. On its 10th anniversary, LG OLED continues to be the standard for exceptional picture quality and unparalleled customer experiences. The company is also working with partners to expand the customer experience and allow TV users to redefine the viewing experience by introducing various new interactive services such as online educational platform MasterClass, workout app MaxPro, and metaverse service Sansar through LG TVs.
In the mobility sector, LG has become one of the preferred innovation partners in the automotive industry with its vehicle component solution business. Through partnerships with renowned auto brands, LG leverages its customer insights from consumer electronics, advanced technologies, and diverse areas of expertise to drive advancements in the in-vehicle experience.
Additionally, CEO Cho also discussed LG ThinQ UP, a new line of ‘evolving’ home appliances that provides unique upgradeability and personalization options. This premium collection includes revolutionary products such as the LG refrigerator with MoodUP™, which allows users to change the color of the fridge to match their preferences, mood, or kitchen decor.
Future Businesses to Expand the Customer Experience
CEO Cho also emphasized LG’s goal to provide ‘first’, ‘unique’, and ‘new’ experiences across all of its products and solutions, in order to improve the quality of life for all. To further expand the customer experience in various fields, the company is also implementing in-house programs to nurture innovation, encouraging LG employees to embrace new challenges.
At CES, LG showcased some products developed under LG Labs, a new project that encompasses products, services, and marketing activities based on experimental ideas and creative concepts from both inside and outside the company; such as ‘Hover Gym’ a fitness solution that utilizes motor control technology allowing users to exercise without dumbbells; ‘excicle’, a home workout solution that provides an exceptional indoor cycling experience; ‘brid.zzz’, an optimal sleep care solution that senses brain waves to create beats that help users relax; and ‘pluspot’ a service platform that rewards users when their personal transportation devices, such as electric bicycles and electric kickboards, are charged on its wireless charging stations.
Furthermore, LG is broadening its business portfolio to encompass new areas such as electric vehicle charging, digital health, and content services for the webOS platform. At the same time, the company is increasing investment in core “future” technologies, including AI and 6G, as well as collaborating with startups through LG NOVA (LG North American Innovation Center).
The CEO also emphasized the company’s ongoing efforts in building strategic partnerships with global leaders from a wide range of industries, particularly in the content industry, where the company has been working closely with many valued partners to provide more content for its customers to enjoy.
During the conference, CEO Cho introduced one of LG’s key partners in content services, Tom Ryan, President and CEO of Paramount Streaming. Mr. Ryan highlighted the joint efforts of the two companies to provide an exceptional experience to tens of millions of customers worldwide. “We are excited to announce that Pluto TV, the leading free streaming television service, will be expanding its channel integration for LG Channels, adding over 100 channels this quarter globally,” said CEO Tom Ryan. He added that the two companies will continue to expand their partnership and broaden their capabilities together in 2023.
A Pledge to Create a Better Future
In conclusion of his presentation, Cho reinforced LG’s ongoing commitment as a responsible corporate citizen to achieving a sustainable future, emphasizing the company’s focus on creating a better future for all. This includes initiatives such as the Global IT Challenge for Youth with Disabilities (GITC), which has empowered more than 4,000 youth to acquire technology skills with the goal of eliminating the digital divide for persons with disabilities.
The CEO also emphasized the company’s commitment to increasing the accessibility of LG’s products and services to ensure they are easily used by the disabled and elderly. Guided by feedback from LG’s ‘Disabled Advisory Group’ – a group established in 2021 and composed of members with varying abilities and accessibility experts – the company is continuously introducing barrier-free products that can be used by everyone. In South Korea, the company has various measures in place to strengthen accessibility, such as developing product manuals that incorporate audio and sign language guides, distributing braille stickers for appliances and operating sign language counseling centers.
Additionally, The CEO announced the four finalists of the inaugural LIFE’S GOOD AWARD, an innovation challenge set up by the company to promote its Life’s Good vision and empower innovators eager to make a positive impact on people’s lives and the planet. The finalists – Day1Lab, Dot Inc., NONA Desalination and SOLUTUM – will receive LG’s support to help fine-tune and launch their inventive solutions to create a better life for all. After the four teams pitch their ideas for the final time on January 16 at LG Sciencepark in Seoul, Korea, a total prize money of USD 1.05 million will be distributed among the four winners based on the award ranking.
For more information about LG’s activities at CES 2023, visit LG’s CES site (www.LG.com/CES2023) and the LG Global YouTube channel, where you can also follow all the latest news during the event (January 5-8).
