LG’S NEWEST, MOST EXCITING 4K HDR MONITORS COMING TO CES 2017
HDR Compatible 4K Monitor Delivers Huge Boost in
Productivity, Gaming for Both Work or Play
SEOUL, Dec. 14, 2016 — Already an industry leader renowned for integrating cutting-edge technology into its premium, high-resolution monitors, LG Electronics (LG) is pushing the industry to the next level with plans to introduce a HDR-compatible 32-inch UHD 4K monitor at the 2017 Consumer Electronics Show (CES) in Las Vegas next month.
The availability of HDR content continues to expand, covering a wide range of fields from movie to games. The enhanced picture quality offered by HDR technology is instantly recognizable to even the most casual user and manufacturers are already pushing this promising technology to its fullest potential. With professional-grade picture quality and exceptionally vibrant colors, HDR compatible monitors will appeal to creative professionals, gamers, and anyone else that takes image quality seriously.
To stay one step ahead of the rapid proliferation of HDR content, LG’s 32-inch UHD 4K monitor (model 32UD99) with 3840 x 2160 pixels supports the HDR10 standard, which delivers enhanced brightness levels and a wide color gamut image. Compatibility with the HDR10 standard increases the monitor’s peak brightness, enabling users to edit movies and photographs much more comfortably.
In addition, the 32UD99 is equipped with an IPS panel and displays over 95 percent of the DCI-P3 color space, making it ideal for media content creators of all expertise who will appreciate features such as True Color Pro for color reproduction accuracy unmatched in the industry. With the recent introduction of a new generation of HDR capable game consoles, the 32UD99 is well-equipped to meet the increasing demands of players world over as HDR gaming becomes the new standard in home entertainment.
Along with its elegant, stunning profile, the 32UD99 turns heads even when powered off. The monitor’s USB Type-C port minimizes the number of unsightly cables while its borderless edges and slim ArcLine stand complete its refined image. Requiring only a single cable to stream images to a 4K display, charge a connected laptop and execute data transfers simultaneously, the 32UD99 is able to reduce cable clutter, which adds to its streamlined appearance. And the monitor’s built-in speakers pack a punch with LG’s Rich Bass technology for a full-bodied audio experience.
At CES 2017, LG will also be showcasing the 34-inch 21:9 UltraWide™ Mobile+ Monitor (model 34UM79M). The 34UM79M is the world’s first Chromecast-enabled multimedia monitor, allowing users to seamlessly stream their favorite movies, music, games and more from mobile devices directly to the monitor. And LG’s UltraWide monitor allows owners to simultaneously multitask between the PC and the mobile device using a single screen. Similarly, the Dual Controller Plus feature allows users to control both a PC and a smartphone/tablet via a single keyboard and mouse. What’s more, the LG Mobile+ Monitor application allows for the control of many of the monitor’s settings such as input, volume, aspect ratio, PBP/PIP, etc. remotely and conveniently.
Also on display in Las Vegas alongside LG’s UltraFine™ 5K and 4K displays will be LG’s 34-inch 21:9 UltraWide gaming monitor (model 34UC99), equipped with AMD FreeSync technology, 1ms Motion Blur Reduction, Dynamic Action Sync, Black Stabilizer and other features to maximize the PC gaming experience.
“To maintain our market leadership, LG engineers work tirelessly to incorporate emerging technologies and trends into our newest monitors,” said Brian Kwon, president of the LG Home Entertainment Company. “From high-resolution displays compatible with HDR technology to UltraWide monitors optimized for multitasking and gaming, LG is committed to delivering the most innovative, premium monitors in the industry today.”
Visitors to CES can see LG’s newest advanced monitors for themselves in the Las Vegas Convention Center Booth #11100, Central Hall.
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HDR-COMPATIBLE 32-INCH UHD 4K MONITOR (MODEL 32UD99)
21:9 ULTRAWIDE™ MOBILE+ MONITOR (MODEL 34UM79M)
LG SIGNATURE BRINGS MULTISENSORY GALLERY EXPERIENCE TO EUROPE
Following its successful North America launch in October, LG Electronics is now bringing the premium LG SIGNATURE Gallery experience to European consumers. Since debuting in the United States, the LG SIGNATURE Gallery has embarked on a roadshow that started in New York before moving on to Los Angeles, Denver, Washington D.C. and Tampa, just to name a few cities.
On November 30, LG unveiled the LG SIGNATURE Gallery in Paris at a glamorous event highlighted by French actress and 14-time César Award nominee Catherine Deneuve and Fleur Pellerin, France’s Culture and Communications Minister, as well as over 200 attendees including the president of LG’s French subsidiary, journalists and business partners. The gallery will be open to the public at the Centre Georges Pompidou in Paris until December 7 and then at the CNIT La Défense from December 8-14.
The LG SIGNATURE Gallery is a 140 square meter exhibition specifically designed to highlight the cutting-edge TV and appliances that have been inspired by LG’s “Art of Essence” design philosophy. LG Electronics is actively engaging consumers by providing them with an opportunity to experience the new LG SIGNATURE brand immersively through lighting, movement and sound, offering a captivating multisensory encounter which expresses the essence of its OLED TV, washing machine, refrigerator and air purifier.
Following France, the LG SIGNATURE will expand its presence across the region, with plans to debut in the United Kingdom, Germany, as well as other key countries in Europe.
LG ELECTRONICS PROMOTES HEAD OF SUCCESSFUL HOME APPLIANCE BUSINESS TO COMPANY CEO
Jo Seong-jin Among 58 Executive Promotions at
LG as Company Ramps Up for Challenging 2017
SEOUL, Dec. 1, 2016 — LG Electronics (LG) today announced that Jo Seong-jin, the head of its Home Appliance and Air Solution (H&A) Company and one of the three Representative Directors responsible for key decisions of the entire organization, has been promoted to the position of sole Chief Executive Officer, effective immediately. Mr. Jo’s responsibility will extend across all of LG Electronics’ business units including the H&A Company, Mobile Communications, Home Entertainment and Vehicle Components and oversight of over 120 operations around the world.
Mr. Jo (60), joined Goldstar in 1976, becoming part of the team which developed LG’s first automatic washing machine in 1980. Prior to becoming president of the H&A Company in 2015, Mr. Jo was the head of LG’s H&A washing machine division. In 2007, Mr. Jo received the Bronze Tower Order of Industrial Service Merit from the Korean government in recognition of his valuable contributions to the development of new technologies and Korean industry. More recently Mr. Jo was instrumental in LG’s move into premium appliances with the introduction of the LG SIGNATURE brand and built-in Signature Kitchen Suite as well as building the foundation for future businesses in the areas of IoT and smart homes.
The Board of Directors of LG also promoted Song Dae-hyun (58), currently head of the CIS Region and president of LG Russia, to president and CEO of the Home Appliance and Air Solutions Company, replacing Mr. Jo. A 33-year veteran of LG Electronics, Mr. Song has been involved on the business side of nearly every major product line of the H&A Company, including air conditioners, refrigerators and cooking appliances. As head of Russia and CIS since 2012, Mr. Song was responsible for successfully growing LG’s business in the region during an economically challenging period.
In addition to the promotions of Messrs. Jo and Song, five others were promoted to executive vice presidents, thirteen executives were named senior vice presidents and thirty-eight individuals were made new vice presidents. New roles and responsibilities take effect today, Dec. 1, 2016, with promotions going into effect on Jan. 1, 2017 after the general meeting of shareholders.
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LG LEVERAGES DISPLAY EXPERTISE, ENTERS MEDICAL IMAGING MARKET
LG’s First Medical Imaging Devices Deliver High Resolution,
Accurate Images for Wide Range of Hospital Settings
SEOUL, Nov. 28, 2016 — Leveraging years of experience in advanced flat-panel display technology, LG Electronics (LG) is entering the growing medical imaging devices market with the introduction of clinical and surgical monitors designed to empower healthcare professionals to make accurate and informed life-saving decisions. The new monitors and an advanced new radiography device are being previewed this week at RSNA® 2016, the annual meeting of the Radiological Society of North America in Chicago.
LG 8MP Clinical Review Monitor
The LG 8MP Clinical Review Monitor is a 27-inch IPS monitor driving 3840 x 2160 pixels specifically designed to increase hospital staff efficiency by enabling streamlined work flows and multitasking. In addition to enhanced brightness levels, this monitor provides healthcare professionals with wide viewing angles, minimal color shift and accurate images. The monitor is Digital Imaging and Communications in Medicine (DICOM) compliant, which means that grayscale tones are corrected to maintain image accuracy. Finely calibrated to ensure consistency across multiple devices, the monitor is equipped with backlight stabilization technology to guarantee stable luminance levels. Dynamic Sync Mode reduces input lag, while Flicker Safe and Reader Mode settings help reduce eye strain experienced by doctors and nurses working long shifts.
LG 8MP Surgical Monitor
The 27-inch LG 8MP Surgical Monitor was developed for a wide range of uses in the operating theater. In particular, surgeons who favor minimally invasive surgical techniques will benefit greatly as they make precise observations while viewing LG’s wide and highly accurate monitor. The unparalleled clarity of LG’s 8MP UHD panel helps doctors perform technically complex procedures and the monitor’s IPS technology enables multiple medical professionals to view the monitor from different angles with minimal color shift. Boasting brightness levels of up to 800 nits, LG’s surgical monitor is ideally suited for bright operating rooms. This monitor covers over 99 percent of the sRGB color space with additional space dedicated to the deep red spectrum, enabling doctors to more easily distinguish different types of tissue and blood vessels.
LG Digital X-Ray Detector for Radiography
In today’s hospitals, medical technology that is portable, lightweight and durable is key to providing outstanding patient care. Previewed at RSNA 2016, the LG Digital X-Ray Detector (DXD) produces high quality radiography images within seconds using its 16-bit image processing capabilities and a pixel pitch range as small as 127 micrometers, producing super-high-resolution images for radiographers and radiologists to quickly and accurately identify health issues. A magnesium and carbon fiber body make the LG DXD well-suited to serve patients in a range of medical settings and the IP41 rating for water and dust resistance helps assure optimal performance even when this DXD comes in contact with powders or liquids.
“LG’s entry into the medical imaging device market represents a bold new step in our strategy to expand LG’s position in the B2B market,” said Brian Kwon, president of LG Home Entertainment Company. “As a worldwide leader in the premium display industry, we are confident that LG technology will make a significant contribution to hospitals and medical facilities as they seek to improve the accuracy, quality and efficiency of their diagnostic procedures.”
The RSNA is an association of more than 54,000 radiologists, radiation oncologists, medical physicists and related scientists, promoting excellence in patient care and healthcare delivery through education, research and technological innovation (RSNA.org). LG’s new medical imaging devices are being demonstrated for the first time at RSNA 2016, which runs through Dec. 2. The clinical and surgical monitors will roll out in key markets soon thereafter. The LG DXD will be available in 2017.
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* According to DICOM, part 14 guidelines published by the National Electrical Manufacturers Association (NEMA) and the American College of Radiology (ACR).
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LG TWIN WASH
THREE REASONS WHY AUDIOPHILES CAN’T GET ENOUGH OF LG V20
The LG V20 is the smartphone for audiophiles that raises the bar on smartphone audio. It is the world’s first smartphone to come with a Hi-Fi Quad DAC by ESS Technology — designed for professional-grade audio devices — promising superior sound quality and low noise. Additional engineering polish has been added by B&O PLAY to deliver near-perfect sound. But as a digital storytelling device, the V20 isn’t just about listening to sound — it’s about recording sounds, even creating your own music.
Here are three reasons audiophiles can’t seem to get enough of the LG V20…
1. Studio Mode in HD Audio Recorder
As one of V20’s most distinctive features, Studio Mode in the HD Audio Recorder supports two-track recording — which means you can record your voice on top of a music file, such as instrumental background. The result? Studio-quality content at 24-bit, 192 kHz for auditions or for your personal collection. The V20 makes use of three in-built, high AOP (Acoustic Overload Point) microphones to record voice clearly, far surpassing the audio-recording functions on other smartphones.
2. Customizeable Mic Controllers
When you first open the HD Audio Recorder, you will be in Normal setting. Look on the Second Screen and you’ll see that it offers other options: Concert and Custom.
The Concert setting lets you handle deafening input of up to 132dB — a considerable upgrade from the 120dB the V10 could manage. This means you can clearly record thunderous sound at concerts, unlike conventional recorders that lack the V20s’ audio-engineering muscle, and so end up with distorted recordings.
Then there is Custom. Tap on Custom, and you will see the three control sliders labeled Gain, Low Cut Filter (LCF), and Limiter (LMT). These sliders look similar to the audio mixing tools used by sound engineers. Don’t be intimidated: They are easy to use. The Gain slider controls mic sensitivity, so you can use Gain to adjust input volume between -20dB and 20dB. The LCF slider cuts the level of low frequencies, such as background noise from air conditioners or ventilators. Choose the appropriate LCF level from three given options: You can turn LCF off, or set it to either 75Hz or 150Hz. And the LMT slider limits the loudness of the sound recording up to the desired level, so even if a car passes blasting its horn, the limiter will prevent the sound from exceeding the set level. Here, you can choose from four options: Turn LMT off, or set LMT to 0dB, -3dB or -6 dB.
3. Nonstop Hi-Fi Video Recording
Hi-Fi Video recording means you can record immersive, lossless sound using 24-bit, 48 kHz Linear Pulse Code Modulation (LPCM). LPCM is uncompressed audio with impressive sound quality — the same audio format used in professional video camcorders. This means you can record such delicate sounds as water chuckling in a stream or the sound of a bow touching the strings of a violin.
Inevitably, the size of the finished video file will be quite large. Again, no need to worry. The V20’s predecessor automatically stopped recording when a file reached 4GB, but the LG V20 enables you to exceed this limit. The phone will save the file as soon as it hits 4GB, and automatically start recording a new file, nonstop. And that’s not all. In playback mode, the V20 plays your clips in the order they were recorded, without any pause or skip.
LG EARNS ‘BEST OF YEAR’ HONORS FROM USA TODAY’S REVIEWED.COM FOR TV AND LAUNDRY INNOVATIONS
LG Innovations Recognized for Best TV and Best Washer for New Parents
SEOUL Nov. 14, 2016 ― LG Electronics has received prestigious “2016 Best of Year” awards from Reviewed.com, a division of USA TODAY. Grounded in comprehensive scientific testing procedures and expert technical analysis, the awards recognize the B6P LG OLED 4K TV series (available in 55-inch and 65-inch class screen sizes) as the “Best Television of the Year” and the unique the LG TWINWash™ laundry system as the “Best Washer for New Parents.”
The annual Best of Year Awards feature top product picks by the Reviewed.com editorial board to help consumers make informed purchasing decisions and buy the best product to meet their needs during the holiday shopping season. LG’s B6P OLED 4K TV was honored for its superior picture quality and unrivaled HDR (high dynamic range) experience, while LG TWINWash was recognized for its ability to help users tackle two loads of laundry simultaneously, saving new parents time and money.
“Reviewed.com’s ‘Best of Year’ award distinction is a testament to LG’s dedication to providing best-in-class innovations that enrich peoples’ lives,” said David VanderWaal, head of marketing, LG Electronics USA. “Our goal is to enhance the consumer experience in every room of the home and these awards underscore our commitment to delivering on that promise with innovative, category-leading products and technology.”
Best Television of the Year: LG B6 OLED 4K TV
LG’s B6 OLED 4K TV (model OLEDB6P) produces the most lifelike images of any television available today. Thanks to OLED technology’s unique ability to turn each pixel on or completely off, LG OLED TVs produce perfect blacks and flawlessly render crisp, brilliant colors and rich shadow detail. As a result, images appear more real, with more perceived depth as well as vibrant color. All 2016 LG OLED TVs, including the B6 OLED 4K TV, support both industry-standard HDR formats – HDR10 and Dolby Vision.
“LG’s B6 Series (and the 55-inch model I tested) proved to be yet another heavy-hitter from the company’s 2016 lineup of organic light-emitting diode displays,” said Lee Neikirk, senior staff writer, Reviewed.com.
Best Washer for New Parents: LG TWINWash
The LG TWINWash system allows users to wash two loads of laundry at the same time, utilizing the unique “mini” washing machine as a second washing machine placed in the pedestal beneath the main LG front-load washer. The mini washer is specifically designed to wash small, custom-care laundry loads including special care items such as intimates, delicates and active wear and can hold three to four pounds of laundry in one load. It can be used at the same time as the front-load washer or on its own, making it perfect for families needing to wash a small load of children’s clothes whenever they need. Plus, it’s compatible with LG front-load washers from 2009 onwards.
“You know how front-load washers are often sold with risers, since it’s a pain to bend over to load and unload them?” asked Ben Keough, editor in chief of news and features, Reviewed.com. “Well, LG put a second, smaller, top-load washer inside the riser, so you can do a separate load of delicates while you launder heavier stuff in the main washer. Genius, no?”
For more information on these awards and LG’s award-winning home entertainment and home appliance products, please visit Reviewed.com and LG.com, respectively.
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LG HONORED WITH 21 CES 2017 INNOVATION AWARDS
LG Receives Fifth CES Innovation Award for OLED TV, Second
Consecutive ‘Best of Innovations’ Award for LG SIGNATURE OLED TV
SEOUL, Nov. 11, 2016 ― The Consumer Technology Association (CTA™) is recognizing LG Electronics (LG) for groundbreaking innovations in technology and design with 21 CES 2017 Innovation Awards, including recognition for the company’s ultra-premium LG SIGNATURE product portfolio, OLED TV and the high performance LG V20 multimedia smartphone. This marks the fifth consecutive year that LG OLED TVs have received a CES Innovation Award, the official industry recognition for the most innovative products introduced at the largest annual consumer technology trade show.
CES 2017 also marks the 50th anniversary of the world’s largest tech trade show, which LG and its Zenith subsidiary have been a part of since its founding in 1967. LG was recognized in 11 highly competitive categories including Home Appliances, Home Audio & Video Components and Accessories, Wireless Handsets, Wireless Handset/Accessories, Video Displays, Smart Home, Headphones, Tech for a Better World, Eco-Design/Sustainable Technologies, Portable Media Players, and Computer Peripherals. The award-winning products will be exhibited at CES 2017 in Las Vegas from January 5-8, 2017.
Leading the company’s CES 2017 Innovation Award winners are LG SIGNATURE brand products, which earned coveted accolades in TVs, washing machines and dishwashers. LG SIGNATURE products combine the best of LG’s cutting-edge technology and world-class design with exquisite attention to detail for today’s most discerning consumers. The second generation LG SIGNATURE OLED TV, which will be unveiled at CES 2017, earned top industry honors in video displays with the “Best of Innovations Award” for the second consecutive year.
Sponsored by CTA and endorsed by the Industrial Designers Society of America, CES Innovation Awards are selected annually by a panel of esteemed industry designers, engineers and journalists who judge submissions on a variety of criteria which span user value, aesthetics, innovative design, quality and contributions to quality of life.
The full list of LG’s 2017 CES Innovation Award winners will be announced in conjunction with LG’s CES press conference at 08:00 PST on January 4, 2017 at the Mandalay Bay Resort in Las Vegas.
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LG BEGINS NOUGAT OS UPDATE FOR G5 IN KOREA, OTHER MARKETS TO FOLLOW
Fast Rollout of Android 7.0 Demonstrates LG’s Commitment to Product Support
and Customer Service as Differentiating Factors in the Smartphone Space
SEOUL, Nov. 8, 2016 — LG Electronics (LG) today began rolling out Android 7.0 Nougat OS for the LG G5 in LG’s home market of South Korea. LG, which was the first smartphone manufacturer to offer a Nougat experience out of the box with its LG V20 for content creators, has the distinction of being the first company after Google to offer Nougat as an upgrade to an existing smartphone running Android Marshmallow.
While LG G5 owners in Korea are the first to receive the OS upgrade, they will be followed by customers in the Americas, Asia and other markets in the weeks to come. Most G5 users will receive notifications on their phones when the update is available. More information will become available locally in the weeks ahead.
Android 7.0 Nougat offers a range of new features designed to enhance the user experience and deliver more speed and convenience to G5 owners. For example, searches can now be conducted inside user-installed apps as well as built-in apps using Nougat’s In Apps. New Multi-window allows the user to switch between apps with a double tap or run two apps side by side. More personalized settings and smarter notifications allow users to be more productive with less effort.
“At LG, we know our customers want the best, most up-to-date mobile experience,” said Kim Hyung-jung, senior vice president and head of LG Mobile’s research and development. “Getting software updates to our users faster than the competition is our way of demonstrating that LG is committed to supporting our products and customers to ensure they have a positive ownership experience.”
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LG CUSTOMIZES SMARTPHONE FOR SPECIAL NEEDS CUSTOMERS IN INDIA
One of the strengths of smart devices is the ability to customize them to the needs of specific users. However, customizing a smart device such as a smartphone isn’t as easy or convenient as one might think when the user is visually impaired. Not only must the owner know what apps to purchase and install, he or she must also be able to navigate a new smartphone that wasn’t set up for a user with visual challenges.
In India, LG marketing team has attempted to set a new standard with the launch of its K7 smartphone specifically targeting visually impaired users.
Features and applications have been pre-loaded so they can be used right out of the box by visually challenged users. Apps such as @Voice, Cozy Magnifier & Microsope, Kota Daisy Reader, GPS Essential, PocketBook and eReader Prestigion are available from the LG K7 home screen. Seven e-books are included for free on the K7 to be read out loud by the compatible application and features included in the phone’s Android operation system have been preset for easy navigation and operation, such as Talk Back, Screen Reading and Text-to-Speech set to English and Hindi by default.
Introduced alongside the larger LG K10 in India, the K7 features a 5.0-inch FWVGA In-cell Touch display, 1.3GHz Quad-Core processor, 5 megapixel camers on both the front and the back, dual SIM slots and 2,125mAh battery all for only Rs 9,500. Its premium quality finish and curved 2.5D Arc Glass and pebble design make this customized K7 an extremely attractive device and very pleasing to the eyes.
“We are extremely proud to make this K7 smartphone more relevant and available for differently-abled users,” said Kim Ki-Wan, president of LG India. “The technology exists to make lives much more convenient for visually challenged individuals and yet the barrier to entry has always been high. We hope we can help lower that wall in a small way with this customized K7 from LG.”
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LG ULTRAFINE 5K/4K DISPLAYS DESIGNED FOR THE ULTIMATE MAC USER EXPERIENCE
27 and 21.5-Inch Displays Offer Exceptional Performance,
Convenience and Seamless Integration with MacBook and New MacBook Pro
SEOUL, Oct. 28, 2016 — LG Electronics (LG) is introducing two new displays designed specifically to integrate seamlessly with the newest MacBook and MacBook Pro models. The new UltraFineTM 27-inch 5K display and its 21.5-inch 4K display from LG are ideal for creating an expanded work space in the home or office and the perfect complement for MacBook and MacBook Pro users who desire expansive, high-quality resolution at all times.
27-Inch UltraFine 5K Monitor with Thunderbolt 3
Designed and optimized for the new MacBook Pro with Thunderbolt 3 running macOS 10.12 and later, the stunning 27-inch UltraFine 5K display appeals to a range of creatives, including video and photography professionals. With a breathtaking resolution of 5120 x 2880 and 218 pixels per inch (ppi), the color reproduction capabilities of the UltraFine 5K display allow it to cover 99 percent of the P3 color space. What’s more, the monitor’s advanced IPS display technology minimizes color shift and color loss from any viewing angle, ensuring that users see the original content as it was meant to be seen.
As the world’s first 5K display with Thunderbolt 3, LG’s UltraFine 5K display has the capability to receive and transfer 5K video, audio and data from the new MacBook Pro while simultaneously charging it through a single Thunderbolt 3 cable. The UltraFine 5K display features three downstream USB Type-C ports for additional connectivity and power with compatible accessories. Seamless macOS integration enables brightness and volume control like built-in display without the need for physical buttons on the display.
The front-facing camera and microphone works with FaceTime and high fidelity integrated speakers enhanced by LG’s Rich Bass feature completes the multimedia experience while a height and tilt-adjustable stand maximizes user comfort.
21.5-Inch UltraFine 4K Monitor
With a density of 219ppi that gives this display the ability to present sharp 4K resolution (4096 x 2304) image quality, the UltraFine 4K display is the perfect companion for the MacBook while also supporting the new MacBook Pro. The 21.5-inch model covers 99 percent of the P3 spectrum, boasting vibrant brightness levels and an IPS panel capable of providing more uniform color expression. Featuring USB Type-C connectivity for video, data and power over a single cable and macOS integration for display control, the LG UltraFine 4K display offers three downstream USB Type-C slots, a high-quality Rich Bass Speaker and an adjustable stand for enhanced ergonomics.
“We are excited to be introducing two highly advanced displays capable of meeting the needs of even the most demanding Mac users,” said Brian Kwon, president of LG Home Entertainment Company “Not only do these UltraFine displays offer stunning picture quality, they will usher in a new age of connectivity, helping creative users achieve optimal efficiency in their homes, studios or offices.”
The LG 21.5-inch UltraFine 4K display will be available starting in November while the LG 27-inch UltraFine 5K model will be available in early December starting in the United States. Please visit www.apple.com for more information on LG UltraFine displays and details on pre-ordering the 21.5-inch 4K monitor.
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LG ANNOUNCES THIRD-QUARTER 2016 FINANCIAL RESULTS
Solid Home Appliance and Home Entertainment Performance Offsets Challenges in Mobiles
SEOUL, Oct. 27, 2016 — LG Electronics Inc. (LG) today announced third-quarter 2016 sales of KRW 13.2 trillion (USD 11.8 billion) and operating income of KRW 283.2 billion (USD 252.7 million), reflecting strong performance of its Home Appliance & Air Solution business and increased profitability in Home Entertainment, which offset sales declines and operating losses from Mobile Communications.
LG Home Appliance & Air Solution Company third-quarter revenue increased 3 percent year-over-year with its strongest performance coming from European and Asian markets. Operating income of KRW 342.8 billion (USD 305.9 million) resulted in a solid operating margin of 8 percent, a 40 percent improvement from the same period last year. Strong performance of air conditioners and premium appliances helped profitability, despite unfavorable currency fluctuations in MEA and Latin American countries.
LG Mobile Communications Company third-quarter revenues were KRW 2.5 trillion (USD 2.3 billion), 23 percent lower than in the same period of 2015. Lower sales of premium devices and expenses related to business structure improvement activities contributed to a quarterly operating loss of KRW 436.4 billion (USD 389.4 million). LG shipped 13.5 million smartphones in the quarter, with North America reporting a 14 percent increase in sales from the second quarter. Priorities for the final quarter of the year will include increasing sales of the new LG V20 smartphone and mass-tier K and X series and finalizing business structural improvements in the mobile division to be better prepared for the challenges ahead.
LG Home Entertainment Company reported the highest operating profit and margin in its history with KRW 381.5 billion (USD 340.4 million) and 9.2 percent, respectively, as sales of premium LG OLED and Ultra HD TVs continued to gain traction in key markets around the world. Due to price erosion driven by intense competition, sales declined by 3.4 percent from last year’s third quarter with revenues of KRW 4.1 trillion (USD 3.7 billion) nearly unchanged from the previous quarter. With the peak holiday selling season ahead, overall demand for TV products is expected to increase although profitability will likely be affected by higher material costs and increased marketing investments.
LG Vehicle Components Company saw a strong increase in third-quarter sales to KRW 674.9 billion (USD 602.2 million), for an increase of 41 percent year-over-year and 6 percent from the previous quarter. The company reported a modest operating loss of KRW 16.2 billion (USD 14.5 million) due primarily to increased R&D investments to support future growth. With more and more electric vehicle projects – led by the GM Bolt – on the horizon, the VC Company expects to see continued growth.
2016 3Q Exchange Rates Explained
LG Electronics’ unaudited quarterly earnings results are based on IFRS (International Financial Reporting Standards) for the three-month period ending September 30, 2016. Amounts in Korean won (KRW) are translated into U.S. dollars (USD) at the average rate of the three-month period of the corresponding quarter — KRW 1,162 per USD.
Earnings Conference and Conference Call
LG Electronics will hold an English language conference call on October 28, 2016 at 09:00 Korea Standard Time (00:00 GMT/UTC). Participants for the English conference call are instructed to call +82 31 810 3061 and enter the passcode 9084#. The corresponding presentation file will be available for download at the LG Electronics website (www.lg.com/global/ir/reports/earning-release.jsp) at approximately 16:00 on October 27, 2016. Visit http://pin.teletogether.com/eng and pre-register with the passcode provided. For those unable to participate, an audio recording of the news conference will be available for a period of 30 days after the conclusion of the call. To access the recording, dial +82 31 931 3100 and enter the passcode 142830# when prompted.
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