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LG RELEASES PRELIMINARY EARNINGS FOR FIRST-QUARTER 2017

A picture of LG Twin Towers at night

SEOUL, Apr. 7, 2017 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the first quarter of 2017.
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Tentative consolidated revenues for the first quarter of 2017 is KRW 14.7 trillion and operating profit is KRW 921.5 billion. Revenues are expected to be 9.7 percent higher and operating profit 82.4 percent higher than the same period the year prior

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  2017 1Q 2016 4Q QoQ (%) 2016 1Q YoY (%)
SALES 14,660.5 14,777.7 -0.8 13,362.1 9.7
OPERATING PROFIT 921.5 -35.2 N/A 505.2 82.4

These figures are the tentative consolidated earnings based on K-IFRS. This tentative earnings is provided as a service to investors prior to LG Electronics’ final earnings results including net profit and details regarding each division which will be announced officially later this month.

 

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LG COMMENCES GLOBAL ROLLOUT OF HIGHLY ANTICIPATED, HIGHLY PRAISED G6

First Global Flagship Smartphone to Ship in 2017, Featuring
FullVision Display, Solid Metal Build and One-handed Usability

A man holds the LG G6 in Ice Platinum against the New York skyline, showing off the back side of the device

SEOUL, Apr. 6, 2017 — Following the initial rollout in its home country of South Korea, LG Electronics (LG) announced the commencement of shipment of its highly praised LG G6 smartphone to international markets this week, including key countries in North America, Asia, Europe, Central and South Americas over the course of the next several weeks. Nearly 200 carriers and operators worldwide will be making the LG G6 available to their local customers.

The LG G6 received many positive reactions at Mobile World Congress 2017 earlier this year, winning an unprecedented 36 awards from various industry publications. With a design based on delivering what everyday consumers wanted from their smartphones, the G6 features an unprecedented 5.7-inch display in a compact 5.2-inch body with minimal bezels for convenient one-handed operation without sacrificing screen real estate. With an immersive FullVision display that supports both Dolby Vision and HDR10, the LG G6 is compatible with more HDR content than any smartphone currently available. And the unique 18:9 screen aspect ratio of the FullVision display allows the screen to be divided into two identical perfect squares, ideal for multi-tasking with the G6’s camera UX, which was developed with social media users in mind.

For many customers, LG’s reputation and heritage of excellence in smartphone photography is what separates its phones from the competition. LG takes photography to the next level once again with a wide angle front-facing camera to complement the wide angle dual camera setup on the rear. The 125-degree lens on the back delivers crisp, panoramic image with less edge distortion than before and switching between the wide and standard lenses is smooth and seamless. And the 5MP 100-degree field of view front camera allows for large group shots without the need to tote around a cumbersome selfie stick.

Sculpted from a blend of high quality metal and smooth glass, the LG G6 is a minimalist’s dream. But the aesthetic beauty doesn’t sacrifice durability, as the phone’s rounded edges provide optimal impact resistance. Protection from the elements is guaranteed as the LG G6 meets the IP68 standard for water and dust resistance. And with Google Assistant available right out of the box, useful information is never far away.

Moreover, the LG G6 has the distinction of having met and passed the MIL-STD 810G standard for durability, conducted by independent testing and certification firm MET (Maryland Electrical Testing) Laboratories. The G6 passed the following 14 tests, the most categories among smartphones tested: Low Temperature, High Temperature, Humidity, Vibration, Solar Radiation, Low Pressure, Sand and Dust, Immersion, Temperature Shock, Salt Fog and Rain. Tough enough to be carried on actual military drills and missions, customers of the LG G6 have one less thing they need to worry about.

“The initial reaction and feedback to the G6 has exceeded our expectations by far,” said Juno Cho, president of LG Electronics Mobile Communications Company. “We had a lot of ground to make up with the G series and what we learned from consumers in the past year has truly been inspiring and illuminating.”

Prices and exact dates of availability will be announced locally in each market at the time of launch.

 

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STUDENTS BRING FRESH PERSPECTIVE ON INNOVATION IN LG’S HR GARAGE PROGRAM

Although Amazon, Google and Disney are some of the most dominant companies in their respective industries, each traces its origin to a great idea, dedicated friends and a spare garage. While each of these firms now operates from within sleek, ultramodern campuses, each traces its drive and vision back to the garages that they were founded in. Because most houses in Korea lack garages, LG Electronics has provided its HR Garage competition as a vital proving ground for the next generation of business solutions from students at the country’s elite universities.

International students participating in LG’s HR Garage Program sit for a group photo

Held from March 31 – April 1 at LG Digital Park in Pyeongtaek, Korea, HR Garage was LG’s innovative contribution to the B2B landscape of the future. Featuring international students from Seoul National University, Yonsei University, Korea University, Sungkyungkwan University and Pusan National University, participants were encouraged to “think big” in order to find global solutions for today’s biggest problems.

LG launched an engaging social media campaign to connect with the more than 100,000 international students in Korea. These participants were asked for their input on how best to create an appealing organization for future Generation Z employees born after 2000.

The 16 students on the four finalist teams participated in a two-day Grand Final event at LG’s Corporate Learning Center in Pyeongtaek. Each team pitched their proposal to a panel of judges who appraised their proposals based on their feasibility, innovation and insight as well as the quality of the team’s analysis and overall presentation.

Ultimately, the proposal submitted by the team “Nutz n Boltz” from Yonsei University’s Global MBA program was selected as the most innovative and insightful, winning LG prizes in addition to the opportunity to have their idea implemented across the globe. In his closing keynote speech, LG Global HR corporate vice president Oliver Grohmann thanked all participants for their innovative thinking and creativity.

Winners of LG HR Garage competition pose with their award and prizes

“Organizations like LG need to listen to intelligent, tech-savvy and creative thinkers from the next generation,” said Oliver Grohmann, corporate vice president of Global HR at LG. “This event doesn’t stop here. We look forward to hearing more and more great ideas from the future of our global workforce. Life’s good when we bring outside ideas in.”

“It was a great experience to participate in such a unique case competition,” said Nutz n Bolts team member Melinda Neal, a student from the United States. Yonsei University student and winner Carlos Salazar of Peru added that the event not only provided an opportunity to share his ideas but also sparked an interest in the B2B industry. Liu Yao, a Chinese student at Seoul National University, said the two-day competition was a great opportunity to meet talented students from all over the world and to experience what it would be like to work for an international organization. “Well organized, efficient and meaningful. I really appreciate LG for providing this valuable opportunity,” she added.

By embracing the next generation of dynamic B2B business solutions from students and other outside-the-box thinkers, LG is demonstrating its commitment to finding radical approaches that will allow the company to continue growing in today’s increasingly competitive market.

“TOKUJIN YOSHIOKA x LG: S.F_SENSES OF THE FUTURE” LIGHTS UP MILANO DESIGN WEEK

Large-Scale Light Installation Highlights LG’s Human-Centric 
Design Philosophy at World’s Largest Design Show LG and Tokujin Yoshioka Milano Design Week Release 001

MILAN, Apr. 3, 2017 — Milano Design Week, the largest and most famous event celebrating design around the world, is the setting for a collaborative, large-scale light installation by LG and Japanese designer Tokujin Yoshioka. Entitled TOKUJIN YOSHIOKA x LG: S.F_Senses of the Future, the impressive work seeks to illustrate humanity’s relationship with the natural world and to illuminate LG’s human-centric design philosophy. The installation is on exhibit from 4-9 April at Superstudio Più in Milan.

TOKUJIN YOSHIOKA x LG: S.F_Senses of the Future offers visitors a feast for their senses and a taste of what the future holds by combining LG’s cutting-edge technology with Tokujin Yoshioka’s groundbreaking experimental design techniques. One part of the exhibition conveys the story of hope for the future through a commonplace object in people’s lives – the S.F chair. But these are no ordinary chairs, but ones borne of science fiction. A total of seventeen S.F chairs have been artfully ensconced with LG’s advanced organic light-emitting diode (OLED) displays. The chairs are both static and dynamic because of the brilliant flashes emitted from the double-sided panels and portray a meditation on the blindingly fast speed of modern day life. Visitors will be able to sit in the S.F chairs, experiencing at the same time the next-generation of display technology.

Another feature of the exhibition, Wall of the Sun, is represented by a 16-meter-wide and 5-meter-tall structure, comprised of nearly 30,000 individual OLED light modules, radically different from traditional bulbs. The wall undulates gently, flashing inviting rays of light and simulating the comfort and warmth felt on bright, sunny days. This extraordinary installation offers a unique glimpse of how human-centric lighting can transform space in the near future.

“This collaboration was a great experience for me as well as a challenging opportunity to create a work of art that has never been seen before,” said Tokujin Yoshioka. “Through this large-scale installation and LG’s advanced technology, I believe that people can rediscover their relationship with the natural world in a more sensual way.”

“It was a great experience working with Tokujin Yoshioka and witnessing the artistic way he wove in LG’s technology into his ideas,” said Noh Chang-ho, head of corporate design at LG Electronics. “LG’s design philosophy is to push the boundaries of innovation while simultaneously empathizing and identifying with the needs of individuals. This exhibition collaboration was a unique opportunity to see a different interpretation of LG’s pursuit of innovation for a better life.”

More information is available at www.LGnewsroom.com/SF.

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LG WINS DUAL “BEST OF THE BEST” IN THIS YEAR’S RED DOT AWARDS

LG SIGNATURE OLED TV W and Smart InstaView Refrigerator
Both Receive Recognition for Best in Design

Best of the Best award-winners LG SIGNATURE OLED TV W and Smart InstaView refrigerator.

SEOUL, Apr. 3, 2017 — LG Electronics (LG) was a big winner at this year’s Red Dot Design Awards, earning an impressive 20 total Red Dot Awards for excellence in design, including two Best of the Best awards. The top Best of the Best awards were given to LG’s SIGNATURE OLED TV W and Smart InstaView refrigerator for their innovation and contribution to the design community. Red Dot is widely seen as one of the world’s three most influential design committees, along with the iF Design Awards and IDEA (International Design Excellence Awards).

The LG SIGNATURE OLED TV W features an awe-inspiring Picture-on-Wall design that takes the TV concept and turns it into a piece of art. The super thin minimal profile of the 65-inch W7 – less than 4mm thick when mounted on the wall – creates the illusion of the TV levitating in midair, making the viewing experience even more immersive. The LG SIGNATURE OLED TV W also recently received the 2017 iF Design Award, giving LG a diverse portfolio of award-winning products.

LG’s InstaView Door-in-Door™ refrigerator was recognized by Red Dot for successfully combining a beautiful appliance with interactive technology. The refrigerator features a 29-inch LCD touch display which instantly turns transparent with just two knocks, letting customers peer inside without opening the door. The Smart Tag menu allows users to add stickers and tags on the screen to indicate which foods are stored inside. Smart Tag also offers users the ability to input the expiration date of each item, so the refrigerator can issue reminders when foods near their expiration dates.

In addition to these two Best of the Best awards, LG received 18 additional honors from the Red Dot judges. LG SIGNATURE OLED TV, Gram laptop, V20 smartphone, LG Watch Style and Sports, TONE series wireless headsets and Minibeam projector were among the other LG products recognized for their outstanding design and technological innovation.

“Recognition such as these from an organization as respected as Red Dot is confirmation to us that LG is living up to our expectation as an industry leader in design,” said Noh Chang-ho, vice president and head of corporate design at LG Electronics. “We will continue to offer products that push the boundaries of design and technology, redefining consumers’ expectations and doing our best to set a higher standard for aesthetics.”

LG Electronics, along with other LG companies such as LG Display and LG Hausys, will be participating in Milano Design Week from April 4-9 to highlight the importance of design in consumers’ everyday lives.

 

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