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LG Electronics (LG) is a global innovator in technology and consumer electronics, with a focus on transforming into a Smart Life Solution Company. Recent organizational changes and strategic initiatives under CEO William Cho aim at maximizing organizational capabilities and business competitiveness. LG's core businesses include Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions, and Business Solutions, driving global revenue growth. The company is leveraging AI, cloud, and big data to enhance customer experiences and accelerate growth, focusing on Affectionate Intelligence to provide caring, empathetic services.

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LG Electronics (LG) has acquired an 80% stake in the Netherlands-based smart home platform company Athom, with plans to acquire the remaining 20% over the next three years. This strategic acquisition aims to enhance LG's smart home ecosystem by integrating Athom's extensive connectivity with LG's ThinQ AI platform. The integration will enable AI-driven home innovations, offering personalized environment solutions by understanding customer usage patterns. Athom, known for its 'Homey' smart home hub, connects over 50,000 devices and has a loyal customer base in multiple countries. The acquisition will allow LG to incorporate third-party devices and services, significantly advancing its AI home business and aiming to become a 'Smart Life Solution Company.' The move aligns with LG's transition from a hardware-focused to a software-based platform business, following similar strategic investments such as the acquisition of Alphonso for its webOS platform.

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LG Electronics' CEO, William Cho, is on a strategic visit to the U.S. to enhance AI initiatives. Cho aims to attract top AI talent, communicate with investors, and attend the MS CEO Summit to accelerate AI integration across LG's business sectors. LG focuses on AI, cloud, and big data as new growth opportunities, transitioning to a 'Smart Life Solution Company'. Cho plans to broaden LG's business portfolio, engage in AI development, and leverage its 700 million customer touchpoints for AI progression and customer experience enhancement.

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LG Electronics makes a strategic investment in Bear Robotics, a Silicon Valley-based startup, to lead the shift to Software-Defined Robotics (SDR) and enhance its capabilities in service robotics. The investment of USD 60 million aims at long-term growth, positioning LG as the largest shareholder in Bear Robotics. LG plans to leverage Bear Robotics' AI-driven autonomous service robots expertise to standardize robot platforms, reduce market-entry costs, and foster synergies, aligning with its Future Vision 2030 of becoming a Smart Life Solution Company.
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LG OLED partners with street artist Shepard Fairey at Frieze LA 2024 to blend physical and digital art, creating a unique sensory experience. The exhibition, themed Peace and Justice, showcases Fairey's iconic work with a focus on societal issues. By integrating LG OLED technology, Fairey transforms his art into a new dimension, bridging traditional and digital mediums.
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LG Electronics (LG) (Ticker: LGEJY) outlines its 'Future Vision 2030' goal and 'Break Through Limits' management policy during a press conference in Las Vegas. CEO William Cho introduced strategies to overcome market and supply chain uncertainties, accelerate growth, and transform into a 'Smart Life Solution Company'. The company plans to invest USD 8 billion* in R&D and other critical areas, double its level of investment, and invest more than USD 40 billion* by 2030 to transform its portfolio for qualitative business growth. LG aims for 'Triple Seven' goals for growth, profit, and value, with an average growth rate and operating profit of seven percent or more, as well as enterprise value translating to an EBITDA ratio of seven. The company is focusing on high-growth and high-profit core businesses, such as B2B expansion, electric vehicle charging, robotics, and platform-based service businesses. LG is also accelerating digital transformation (DX) through data-driven practices and next-gen ERP investment, aiming to provide F.U.N. – First, Unique and New – experiences for its customers.
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LG Electronics (LG) Showcases Smart Life Solutions at CES 2024, Extending Beyond the Home to Various Spaces; Offers Transparent and Wireless 4K LG SIGNATURE OLED TV, Smart Home Powered by AI and IoT, Mobility Concept Alpha-able
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LG Electronics (LG) redefines AI as 'Affectionate Intelligence,' highlighting the technology's role in elevating the customer experience. The company aims to transform into a Smart Life Solution Company, expanding its business into mobility, commercial, and virtual spaces. LG's AI solutions focus on real-time life intelligence, orchestrated intelligence with LG AI Brain, and commitment to responsible intelligence. The company showcased innovative AI-based technologies and strategies for smart home and mobility at CES 2024.
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LG Electronics (LG) is set to host the LG World Premiere press conference at CES in Las Vegas in January 2024. The event will focus on the company's transformation into a Smart Life Solution Company and its use of AI to enhance living spaces and customer experience. CEO William Cho will announce key areas of focus for 2024 and beyond, unveiling state-of-the-art products and innovations.
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LG Electronics (LG) announced organizational changes to achieve the Future Vision 2030, establishing the Overseas Sales and Marketing Company to strengthen global brand power. The company aims to create customer value, enhance executive capabilities, and accelerate the advancement of platform-based businesses and innovative D2C business models.
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LG Electronics (LG) Wins 33 CES® 2024 Innovation Awards, Including Two Best of Innovation Awards for LG OLED TVs. The awards recognize LG's technological and design excellence across Home Appliance, Home Entertainment, and B2B categories. LG's OLED TVs received 12 awards, marking the 12th consecutive year of recognition. LG's Home Entertainment innovations, including LG Soundbars, LG XBOOM Portable Speakers, and LG Smart TV webOS apps, were also honored. LG Home Appliance products, such as LG SIGNATURE Washer & Dryers, and LG Business Solutions products, like LG UltraGear Gaming Monitors and LG gram Laptops, received awards. The full list of recipients will be announced at CES 2024 on January 7.
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FAQ

What are LG's core businesses?

LG's core businesses include Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions, and Business Solutions.

What is LG's focus on AI?

LG is leveraging AI, cloud, and big data to enhance customer experiences and accelerate growth, with a focus on Affectionate Intelligence.

Who is leading LG's transformation?

CEO William Cho is leading LG's transformation into a Smart Life Solution Company.

How is LG using customer touchpoints for AI development?

LG's 700 million devices worldwide serve as customer touchpoints, providing real-time life data to accelerate AI development.

What is LG's strategy for future growth?

LG is transitioning to a comprehensive Smart Life Solution Company, expanding business portfolios, platform-based services, and venturing into new areas like robotics and EV charging.

What is LG's '3B strategy' for AI capabilities?

LG's '3B strategy' focuses on Building internal capabilities, Borrowing and Buying external resources to establish world-class AI capabilities.

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