LG Announces First-Quarter 2022 Financial Results

A picture of LG Twin Towers in the daytime

Highest Quarterly Revenue in Company’s History Reflect
Strong Demand for Premium LG Home Appliances and Auto Parts

SEOUL, April 28, 2022 — LG Electronics Inc. (LG) today announced first-quarter 2022 consolidated sales of KRW 21.11 trillion (USD 17.53 billion) – the highest quarterly revenue in company history. Operating profit of KRW 1.88 trillion (USD 1.56 billion) was positively impacted by royalty income, partially offset by a one-time workforce restructuring cost.

Compared with the first quarter a year ago, revenues grew by 18.5 percent and profitability soared by 6.4 percent, reflecting very strong demand for LG home appliances as consumers around the world continue their focus on healthier living, energy efficiency and home upgrades. The vehicle component business unit’s sales increased driven by higher demand for auto parts as a result of a proactive and preemptive response to shortages of automotive semiconductors.

The LG Home Appliance & Air Solution Company generated first-quarter sales of KRW 7.97 trillion (USD 6.62 billion), with operating profit of KRW 447.60 billion (USD 371.68 million). Sales increased 18.8 percent from the same quarter last year, recording the business unit’s highest quarterly revenue. Stable growth was driven largely by strong performance in premium appliances and new categories such as hygiene products applied with steam technology. The appliance business expects to see continued growth by expanding overseas sales in new appliance categories.

The LG Home Entertainment Company recorded sales of KRW 4.06 trillion (USD 3.38 billion) with an operating profit of KRW 188.40 billion (USD 156.44 million). Sales increased 1.4 percent from the same period a year ago driven by continued demand for premium products including OLED and large-screen TVs in Europe and North America. The business unit expects continued growth by expanding sales of premium TVs including LG OLED TVs, QNED TVs and large-screen TVs.

The LG Vehicle component Solutions Company achieved first-quarter sales of KRW 1.88 trillion (USD 1.56 billion). The sales increase of 8.5 percent from the same period last year reflected a preemptive response to shortages of automotive semiconductors. The business unit’s first-quarter operating loss is narrowing to KRW 6.30 billion (USD 5.23 million), and the company has implemented better cost management to further improve profitability.

The LG Business Solutions Company saw improved first-quarter revenues of KRW 2.02 trillion (USD 1.67 billion), an increase of 23.7 percent from a year ago largely on the back of continued demand for products such as monitors and PC products in the beginning of academic season and recovery of the B2B segment, while product competitiveness and operational efficiencies also improved.

2022 1Q Exchange Rates Explained

LG Electronics’ unaudited quarterly earnings results are based on IFRS (International Financial Reporting Standards) for the three-month period ending March 31, 2022. 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 1,204.26 per USD.

Earnings Conference and Conference Call

LG Electronics will hold a Korean / English conference call on April 28, 2022 at 16:00 Korea Standard Time (07:00 GMT/UTC). Conference call participants are instructed to pre-register online to receive a private PIN. To participate in the conference call, dial +82 31 810 3130, enter passcode 6418# and then the PIN. The corresponding presentation file will be available for download at the LG Electronics website before the call.

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[The Future of Manufacturing: Lighthouse Factory] LG Smart Park

Image of LG Smart Park in Changwon, Korea, with the phrase 'Lighting the way ahead, LG Smart Park. Selected as the World Economic Forum's Lighthouse Factory' overlapping.

Much as a lighthouse guides ships into harbor at night, a Lighthouse Factory serves as a beacon for global manufacturing, shining a light on the future of production through the adoption of Fourth Industrial Revolution (4IR) technologies. Earlier this year, LG Electronics (LG) joined the World Economic Forum’s Global Lighthouse Network when its facility in Changwon, South Korea – named LG Smart Park – was selected as a Lighthouse Factory.

In 2017, LG began transforming its Changwon plant, which had long been the center of the company’s global home appliance manufacturing network, into a ‘next-gen’ production hub. By automating core processes with advanced AI and big data, LG’s state-of-the-art facility has achieved greater all-around efficiency and is better able to respond to the diverse and ever-changing needs of today’s consumers.

Let’s take a look at major innovations that helped earn LG Smart Park its Lighthouse Factory designation.

Innovation #1. Optimized Production Logistics with ‘Digital Twin’ Technology

One of the key factors in the successful digital transformation of LG Smart Park is LG’s unique Digital Twin technology. Recreating the production line in virtual reality, it can simulate various production scenarios and take preemptive action to keep everything in the real factory running as smoothly as possible.

LG’s Digital Twin analyzes production data every 30 seconds, enabling it to accurately identify any issues that are likely to occur within the next 10 minutes. If a problem is discovered, it notifies workers so that they can take appropriate action to avert potential disruptions to the schedule. With this exceptional technology, LG can ensure the dependable, on-time supply of parts and materials for each appliance model being fabricated on the facility’s mixed production lines.

Innovation #2. Automated, Three-dimensional Logistics System

The three-dimensional logistics system employed at LG Smart Park uses factory space more efficiently than the conventional logistics setup used at the Changwon plant.¹ The system takes advantage of the space above the factory floor with a vast, overhead conveyor system that works in unison with ground-based, 5G-enabled automated guided vehicles (AGVs) to quickly transport parts and materials to wherever they are needed.

“Logistics is like the blood vessels in the human body,” said Kang Myeung-souk, task leader of Kitchen Appliance Production Advancement Task. “To make the ‘blood’ flow well, we designed and built an organic communications network for our complex logistic system complete with AGVs leveraging high-speed 5G.”

Innovation #3. Advanced Analytics System based on Edge Computing Technology and Machine Learning

Equipped with an advanced AI platform, the Plug-in for Intelligent Equipment (PIE) executes ‘predictive maintenance’ on factory facilities. Through real-time monitoring and data analysis underpinned by deep learning, LG’s PIE has reduced material loss during the vacuum-forming process by as much as 80 percent.

Additionally, the Machine-learning based Vision Inspection system, MAVIN Cloud provides a significant boost to quality control and inspection speed, saving time and ensuring that every product made at the factory meets LG’s exacting standards.² By establishing its own AI platforms, LG has made the work of production technicians at LG Smart Park much easier without assistance of AI expertise on site.

“The automation of these important processes has helped us improve overall quality and given our workers more time to focus on other key areas of production,” said Park Se-hee, specialist at Refrigerator Manufacturing Unit.

Innovation #4. Safer, Faster Production through Intelligent Automation

The application of intelligent automation to LG Smart Park’s manufacturing system has made the entire production process safer and far more efficient. Robots leveraging advanced AI, big data and onboard cameras now perform the difficult and dangerous tasks including high-frequency welding, which involves high heat and can potentially generate harmful chemicals. Using 3D vision recognition technology, robots also perform the refrigerator door attachment process; a heavy and demanding task that still requires a high-degree of delicacy and precision.

“There is only a 0.5mm tolerance when attaching the door to the refrigerator body, but our advanced robots are up to the task,” said Byun Hyo-sik, Vice President and Head of Kitchen Appliance Production Division. “Based on an extremely complex algorithm, this efficient system has greatly reduced errors and sped up our overall production rate.”

“Automating the attachment of refrigerator doors – which can weigh between 20 to 22 kilograms – has significantly increased quality while saving our workers from having to perform a taxing, repetitive job,” added Kang Myeung-souk, task leader for the Kitchen Appliance Production Advancement Task.

LG Smart Park: Better Life for All. Through the adoption of impressive innovations, LG Smart Park has achieved a 17 percent increase in productivity³ and a 70 percent drop in the cost of defective-product returns.⁴ Moreover, the factory has already started contributing to the company’s global sustainability efforts, reducing greenhouse gas emissions and boosting energy efficiency per unit produced by 30 percent compared to the LG’s previous Changwon plant.⁵ It is also helping the local economy via the creation of new jobs.

LG will continue to accelerate the digital transformation of its global manufacturing network by bringing the smart, innovative production technologies pioneered at its Smart Park in Changwon to 26 LG production facilities in 13 countries.

To learn more about LG Smart Park, please follow the link.

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¹Footprints in logistics have decreased by 30 percent, comparing the figures from the year 2020 to 2021 according to the lighthouse site visit report by World Economic Forum.
²False detection rate has decreased by 96 percent, comparing the figures from the year 2020 to 2021 according to the lighthouse site visit report by World Economic Forum.
³Units produced per hour has increased by 17 percent, comparing the figures from the year 2020 to 2021 according to the lighthouse site visit report by World Economic Forum.
⁴Comparing the figures from the year 2020 to 2021 according to the lighthouse site visit report by World Economic Forum.
⁵Energy input per produced unit and greenhouse gas emissions per produced unit have decreased by 30 percent, comparing the figures from the year 2020 to 2021 according to the lighthouse site visit report by World Economic Forum.

2022 LG gram Lineup Delivers Powerful Performance and Enhanced User Convenience

Perfect for People on the Move, LG’s Premium Laptops Boost Productivity and Security
with AI-based Features, While New Portable Monitor Extends the Digital Workspace

SEOUL, April 26, 2022 — LG Electronics (LG) has announced the global launch of its 2022 LG gram lineup of premium laptops. Ideal for a wide variety of users, the new models continue the brand’s legacy of supreme portability with sleek, ultra-light designs while adopting innovative software and the latest hardware to deliver even more power and convenience.

The 2022 LG gram lineup features seven new models: gram 17 (17Z90Q), gram 16 (16Z90Q), gram 15 (15Z90Q), gram 14 (14Z90Q), gram 2-in-1 (16T90Q and 14T90Q) and the series’ first-ever portable monitor, +view for LG gram (16MQ70). Each new LG gram laptop provides powerful performance backed by a 12th Gen Intel^® Core™ processor. This year’s laptops have also been upgraded to the latest Gen4 NVMe™ SSD, and employ low-voltage LPDDR5 RAM to achieve a performance boost of around 22 percent compared to 2021 gram models.¹ Intel^® Evo™ Platform certified, the 2022 LG grams guarantee excellent battery life, giving users the freedom to work or play, wherever their day takes them.

LG’s premium laptops are synonymous with superb picture quality, and its newest offerings serve as a strong reminder of why. Featuring 16:10 aspect ratio, WQXGA (2,560 x 1,600) resolution IPS panels,² the new grams provide sharp, vibrant images with high brightness, 99 percent coverage of the DCI-P3 color space, and plenty of screen real estate to meet users’ diverse productivity and entertainment needs. What’s more, LG’s advanced IPS displays are now anti-glare,³ reducing distracting reflections and making it easier for users to see what they’re working on, regardless of ambient light conditions.

2022 LG gram laptops elevate the user experience with LG Glance by Mirametrix^®, an innovative AI-based software solution that enhances security and convenience. LG Glance by Mirametrix^® automatically locks the screen if the user steps away from their laptop.⁴ It also alerts the user and blurs the content they are working on if someone is peeking at the screen from over their shoulder.⁵ Conveniently, if a separate monitor is connected, the mouse cursor and the window currently being used automatically move to whichever screen the user is looking at. Additionally, this year’s models offer an optimized environment for video conferencing with features such as face log-in, AI-noise cancelling and a built-in Full HD webcam.

The latest grams remain true to the brand’s core identity, delivering compact, ultra-lightweight designs without sacrificing durability or performance. With their 4-way super-slim bezel design, each model offers an excellent screen-to-body ratio and is rugged enough to meet the U.S. military’s stringent MIL-STD-810G standard. On top of that, all 2022 LG gram products ship in eco-conscious packaging that presents thoughtful reusability after unboxing – cleverly converting to a desk calendar and pencil holder.

Versatile devices that enable users to switch between laptop and tablet in seconds, the new 16- and 14-inch LG gram 2-in-1 models come with pre-installed drawing and notetaking applications optimized for the LG Stylus Pen (Wacom AES 2.0). With the combination of smoothly integrated stylus support and LG’s AI-based user interface, the latest gram convertibles offer greater work efficiency as well as a responsive and enjoyable writing and sketching experience.

This year’s gram lineup also welcomes the +view for LG gram, a portable 16-inch monitor with detachable cover that connects via USB-C to extend the digital workspace. The 16MQ70 can be placed next to a laptop in horizontal or vertical orientation,⁶ and is a perfect match for LG gram 16; combining to provide a seamless look and a 32:10 aspect ratio IPS canvas for advanced multitasking.

“The 2022 gram series honors the brand’s identity and heritage with supreme portability, outstanding performance and optimized user experiences,” said Seo Young-jae, senior vice president and head of the IT business unit of LG Electronics Business Solutions Company. “Ideal for dynamic people on the move, LG gram products are designed to maximize productivity no matter where you are or what you’re working on.”

The global rollout of the 2022 LG gram lineup will start from the second quarter with availability at key markets in North America, Europe and Asia.

Specifications:

	LG gram 17 (17Z90Q)	LG gram 16 (16Z90Q)	LG gram 15 (15Z90Q)	LG gram 14 (14Z90Q)	LG gram 16 2-in-1 (16T90Q)	LG gram 14 2-in-1 (14T90Q)
Display Size	17-inch	16-inch	15.6-inch	14-inch	16-inch	14-inch
LCD	WQXGA (2,560 x 1,600) IPS	WQXGA (2,560 x 1,600) IPS	Full HD (1,920 x 1,080)	WUXGA (1,920 x 1,200) IPS	WQXGA (2,560 x 1,600) Touch IPS Display, Corning^®Gorilla Glass^®Victus^®	WUXGA (1,920 x 1,200) Touch IPS Display, Corning^® Gorilla Glass^® Victus^®
Brightness (Typ.)	350 nits				300 nits
Weight	1,350g – Internal GPU 1,435g – External GPU	1,199g – Internal GPU 1,285g – External GPU	1,140g	999g	1,480g	1,230g
Size	378.8 x 258.8 x 17.7mm (14.91 x 10.18 x 0.70 inches)	354.5 x 242.1 x 16.8mm (13.96 x 9.53 x 0.66 inches)	356.1 x 222.9 x 17.4mm (14.02 x 8.78 x 0.69 inches)	312 x 213.9 x 16.8mm (12.28 x 8.42 x 0.66 inches)	356.6 x 248.3 x 16.9mm (14.04 x 9.78 x 0.67 inches)	314 x 219.5 x 16.75mm (12.36 x 8.64 x 0.66 inches)
Battery	80Wh – Internal GPU 90Wh – External GPU	80Wh – Internal GPU 90Wh – External GPU	80Wh	72Wh	80Wh	72Wh
CPU	12th Gen Intel^®Core™ Processor (Alder Lake)
GPU	Intel^® Iris^® X^e Graphics (i7, i5), Intel^® UHD Graphics (i3) *Option: NVIDIA RTX 2050 with 4GB (GDDR6)		Intel^® Iris^® X^e Graphics (i7, i5), Intel^® UHD Graphics (i3)
Memory	8/16/32GB (LPDDR5-5,200MHz, Dual Channel)
Storage	Dual SSD Slots (NVMe™ Gen 4)
Speakers	Stereo Speaker (1.5Wx2), HD Audio with DTS X Ultra, AI Noise Cancelling
Durability	MIL-STD-810G
I/O Port*	HP-Out (4-Pole Headset, US Type), HDMI, USB 3.2 Gen 2×1 (x2), USB 4 Gen 3×2 Type C (x2, Power Delivery, DisplayPort, Thunderbolt™ 4), Micro SD Card				HP-Out (4-Pole Headset, US type), USB 3.2 Gen 2 (x1), USB 4 Gen 3×2 Type C (x2, Power Delivery, DisplayPort, Thunderbolt™ 4), Micro SD Card
Software	LG Glance by Mirametrix^®, PCmover Professional				LG Glance by Mirametrix^®, PCmover Professional, Wacom Notes, Wacom Bamboo Paper
Webcam	Full HD Webcam with IR Sensor
Accessory	–				LG Stylus Pen (Wacom AES 2.0 & WGP)

* USB naming conventions have changed: USB 3.0 (or USB 3.1 Gen 1) and USB 3.1 (or USB 3.1 Gen 2) are now USB 3.2 Gen 1×1 and USB 3.2 Gen 2×1, respectively.

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¹Based on internal testing, LPDDR 5 RAM used in 2022 LG gram models achieves a clock speed of up to 5200MHz. Previous gram models employed LPDDR 4X RAM with a clock speed of up to 4266MHz.
²Except for gram 15 (16:9 Full HD [1,920 x 1,080] IPS panel) and gram 14 (16:10 WUXGA [1,920 x 1,200] IPS panel.
³Except for gram 2-in-1 models, 16T90Q and 14T90Q.
⁴Screen locks if the registered user’s face is no longer detected in front of the laptop (at a distance of 35-74cm from the webcam).
⁵Feature activates when a person positioned behind or near the user is detected looking at the screen (must be within camera’s field of view to activate).
⁶OnScreen Control software must be installed to switch between vertical/horizontal screen orientation.

[Earth Day with LG 🌎] Making a Difference with Water-Efficient Home Appliances

An illustration of LG home appliances placed on Earth

Water is one of the most precious natural resources. Without it, life on Earth would simply cease to exist. Although it is true that 71 percent of the world is covered by water, only three percent of that is fresh water¹ which is why we must do better to conserve what we have. And, as we celebrate Earth Day today, now is the ideal time to invest in our planet and commit to managing our water more sustainably.

Home is always a good place to start looking for ways to make a difference. Even small changes to one’s daily habits, such as taking shorter showers, can help out – especially if everyone in the house gets on the same page. Another excellent way to cut water usage at home is by investing in water-efficient appliances, such as those from LG.

Clean Clothes and Intelligent Water-Savings

Despite getting clothes clean, some washing machines consume an excessive amount of water. This, however, can be solved by LG washers featuring the Artificial Intelligence Direct Drive™ (AI DD™), which suggest the optimal wash cycle for each load by detecting the weight and fabric softness of clothing.² They also employ LG’s own TurboWash™ 360 technology, which uses a 3D ‘multi-nozzle’ that sprays water in four different directions simultaneously. The result is clean clothes, shorter cycle lengths and less water usage without any sacrifice to washing performance whatsoever.³

Additionally, LG’s latest washers come with ezDispense™, a clever feature that automatically dispenses the optimal amount of detergent needed for the load being washed. It boosts washing efficiency by reducing the number of rinses needed per-cycle. ENERGY STAR-labelled products that help consumers save money while helping the planet, the company’s latest washers use 25 percent less energy and 33 percent less water than conventional models.⁴

Sparkling Clean Dishes, Lower Water Consumption

As well as providing greater convenience in the kitchen, a dishwasher can also deliver efficient water usage.⁵ Through precise control of water circulation and spray intensity, ENERGY STAR-certified dishwashers cost only USD 35 per-year to run and save on average 3,870 gallons of water over their lifetime.⁶

Much like the company’s washing machines, the LG dishwasher uses less water without compromising cleaning performance. LG’s QuadWash™ technology has Multi-Motion spray arms that rotate back and forth to separate food and oil from dishware, while TrueSteam™ helps to reduce the occurrence of water spots, leaving dishware sparkling clean.⁷

The Right Amount of Water for Clean Floors

Designed to make mopping easier and less water intensive than taking to the floor with a mop and bucket, the LG CordZero™A9 Kompressor stick vacuum cleaner with Power Mop™ is ideal for keeping hard-floor surfaces clean. The Power Mop attachment has an efficient, automatic water supply system that ensures the two rapidly-rotating mop pads have just the right amount of water to clean with.

The LG CordZero M9 robotic vacuum cleaner, which also has a mop function, is likewise equipped with the company’s advanced, automatic water supply system. To prevent unnecessary water usage, the water supply system shuts off when the CordZero M9 has finished its mopping.

Water gives us life, and in return, we must do all that we can to manage it more sustainably. Through being mindful of our daily habits, and choosing appliances that use less water, each of us can do our part to conserve the Earth’s most precious of resources and help bring about a better future for all.

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¹https://www.usbr.gov/mp/arwec/water-facts-ww-water-sup.html
²Average water consumption reduced by approximately by 10.6 percent with AI DD™ when tested by Intertek in April 2020 on Cotton cycle with load comprising 3kg of underwear in conventional LG washer model F21VDT and LG AI DD washer model W16SK. Results may differ depending on product models and actual usage environment.
³Tested by Intertek in April 2020 on Normal cycle with TurboWash 360(TURBOSHOT) activated with load comprising 3kg of laundry. LG TurboWash 360 model W16SK uses approximately 36 percent less water and shortens cycle length by 46 percent compared to the same model with same load size set to Normal cycle without TurboWash 360(TURBOSHOT) selected. The product models and results may differ depending on regions and actual usage environment.
⁴https://www.energystar.gov/products/clothes_washers
⁵“A European Comparison of Cleaning Dishes by Hand.” University of Bonn, 2007.
⁶https://www.energystar.gov/products/dishwashers
⁷Tested by LG internal lab on Normal Cycle with clear cup of glass in LG non-Steam model DFB415 and LG Steam model (DFB325), according to LG internal test methods.

[Earth Day with LG 🌎] Go Green on Earth Day With Smart Home Technology

With Earth Day just around the corner, what better time to get serious about going green? Taking the first steps doesn’t have to be difficult as today’s smart home tech can help kickstart your journey to sustainability by providing an effortless way to shrink household energy and water use. LG’s smart home platform, LG ThinQ, introduces a variety of new, eco-responsible features that deliver maximum convenience while putting you further along the path to greener living. Here’s a look at how the latest smart technologies from LG can help transform the home into a place where ‘Earth Day is every day.’

Energy Saving Made Simple

Saving energy at home is much simpler with the LG ThinQ app and its smart sustainability features, which allow users to effortlessly optimize the energy efficiency of their appliances. The app even takes usage patterns into consideration – for instance, it can adjust the refrigerator’s power consumption to the lowest level during nighttime hours, when family members or roommates are far less likely to be opening and shutting the fridge door in search of ingredients or snacks. One unexpected perk is that you’ll be able to see exactly how much energy you’re saving with these energy-efficient activities as well. With the ThinQ app by your side, you’ll gain insight into the monthly usage insights of your household gadgets.

Remote control and monitoring features also help to cut unnecessary electricity use. Let’s say, for example, that the front door has been locked and everyone has set off for a much-needed vacation, but one of the appliances has accidentally been left on. With the LG ThinQ app, that’s not a problem. From any location, simply pull out your smartphone, check the status of each appliance,¹ then turn off whichever one is still running. With that done, there’s nothing left to do but get down to the serious business of R & R.

Handy Notification for Preventing Waste

Beyond reducing how much energy is used at home, how else can we be more sustainable in our daily lives? The LG ThinQ app provides some well thought-out answers with features such as the food expiration date alert. Letting users know when fresh food stored in their fridge is getting close to expiring, these useful alerts can help prevent perfectly good food from going to waste – which is simultaneously good for the planet and household grocery spending. All you need do is register the expiration date of each food item when putting them in the refrigerator. And if you still haven’t gotten around to using a particular ingredient by the time its best-by date is imminent, the app will conveniently remind you with a handy smartphone notification.

Moving from the kitchen to the laundry room, the LG ThinQ app offers a clever cycle-recommendation feature that ensures clean clothes without any waste of water or detergent. After LG’s smart washer – with the help of the company’s AI DD™ technology – has determined fabric-type and load-weight, the app suggests the optimal cycle for the job: one that uses only what is needed to deliver the best results for your laundry, and for the environment.

Extending the Lifespan of Home Appliances

Keeping appliances in top working order is always a good idea as it will help to extend their lifespan and save you money. Not only does this worthwhile endeavor lead to fewer big-ticket purchases for the home over the long run, it can also potentially save you money every month by helping to prevent excessive power consumption during regular operation. Another plus to taking good care of your appliances it that it puts less strain on the world’s recycling plants, which play an important role in preserving the Earth’s finite resources. Designed to support users in maintaining their LG home appliances, the ThinQ app’s Smart Diagnosis feature² makes it possible to conduct quick checkups to ensure that everything is functioning as intended. In addition to preventative care, the app provides reminders when it’s time to replace a product’s filters.

Taking things a step further, LG recently announced the upcoming launch of its Upgradeable Appliances – appliances that let users download new features and functions from the ThinQ app’s Upgrade Center, and enjoy more and more value over time. Offering new and constantly evolving user experiences without the need to ‘upgrade’ to a newer model, LG’s Upgradeable Appliance paradigm has the potential to further extend the lifespan of the company’s electronics products and help ease the global problem of e-waste.

With the latest smart home technologies from providers like LG, life can be more convenient and more sustainable than ever. Happy Earth Day!

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¹ LG ThinQ App compatible products, services and available features may vary depending on model or region/country.
² Smart Diagnosis logo may vary depending on the regions and product models.

[Earth Day with LG 🌎] LG Earns Top Rating in MindClick Sustainability Assessment Program for Marriott

LG is Only Display Manufacturer to Achieve ‘Leader’ Rating in
MindClick Sustainability Assessment Program for Marriott

SEOUL, April 20, 2022 – LG Electronics (LG) has received the highest possible rating in the 2021 MindClick Sustainability Assessment Program (MSAP) for Marriott International. As a supplier of hotel TVs and digital signage displays for 14 Marriott brands, LG has earned the “Leader” rating for seven consecutive years and remains the only display manufacturer to receive the distinction.

Announced ahead of Earth Day, the “Leader” rating demonstrates LG’s “exemplary use of environmentally and socially responsible practices throughout the life cycle of all product lines, from material choice to end-of-life solutions,” verified by MindClick through a rigorous audit process. The MSAP is an annual assessment of Marriott suppliers that evaluates the sustainability of their products’ lifecycle.

The assessment program evaluates products based on their operational footprint with environmental and social metrics such as energy, carbon, water reduction and human and labor rights. It also measures metrics such as carbon footprint from product use and distribution, recyclability, as well as use of sustainable materials and avoidance of chemicals of high concern. Suppliers are recognized in one of three levels: Starter, Achiever and Leader. In 2021, LG achieved top scores in seven of the nine evaluation categories.

Hotel TVs and displays from LG Business Solutions earned Leader status in several key categories:

“Social” with required human and labor policies including zero tolerance for forced or compulsory labor, discrimination, child labor and human trafficking.
“Environmental” with footprints completed and reduction targets set for energy reduction, reduced carbon emissions, water reduction and reduced waste in the facilities used to manufacture products.
“Distribution” through the use of transportation carriers that are EPA SmartWay certified and adhere to a cap on greenhouse gas emissions.
“Guest Health” with products that reduce toxins through compliance with chemicals of serious concern.
“End of Use” and “Facility Impact” with products that are recyclable and packaged in recyclable materials, and have end-of-life solutions identified.

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LG Magna E-Powertrain Celebrates Groundbreaking of New Facility in Mexico

The front of LG-Magna's new facility in Mexico

New Manufacturing Plant to Produce Electric Powertrain Components for
General Motors from 2023, Create an Estimated 400 New Jobs

SEOUL, April 20, 2022 — LG Magna e-Powertrain, a joint venture (JV) between LG Electronics (LG) and Magna International Inc. (Magna), celebrated the groundbreaking of its new plant in Ramos Arizpe, Mexico. Scheduled for completion in 2023, the new facility will produce inverters, motors and on-board chargers to support General Motors’ new electric vehicle (EV) platform. The 260,000 square foot plant will be LG Magna e-Powertrain’s first production base in North America and is expected to create around 400 new jobs.

“Strengthening our JV’s ability to develop and produce advanced EV sub-assemblies, the Ramos site represents one of the key pillars of LG’s long-term strategy to become the auto industry’s go-to innovation partner,” said Eun Seok-hyun, president of the LG Vehicle component Solutions Company.

“This new facility demonstrates the continuing growth of LG Magna e-Powertrain,” said Cheong Won-suk, chief executive officer of LG Magna e-Powertrain. “The JV’s ongoing success will enable us to better support our customers with best-in-class components for the next generation of electric vehicles, and help us to expand our presence in the fast-growing global EV market.”

The groundbreaking event, which took place on April 19, was attended by executives from LG Magna e-Powertrain, LG Electronics, Magna, General Motors and local government officials.

“In the space of just over one year, we’ve added an expansion agreement, identified a strategic location to support our customer, and are now in the process of realizing our plans,” said Tom Rucker, president of Magna Powertrain. “The building of a new facility is a true testament to the strength of this collaboration and commitment in delivering innovative solutions to customers to meet their challenges. It also reinforces our active participation in the electrification transformation whether by eDrive sub systems or full systems.”

General Motors is the foundational customer for the new facility, and it will play a key role in GM’s journey to build a strong, scalable, sustainable and North America-focused EV supply chain.

First announced in late 2020, LG Magna e-Powertrain combines LG’s expertise in developing components for motors, inverters, and on-board chargers with Magna’s prowess in electric powertrain systems and automotive manufacturing. The joint venture is expected to fuel both companies’ growth in the highly competitive EV industry.

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[Earth Day with LG 🌎] LG Recognized as Environmental Leader

LG’s Strong Climate Action Efforts Underscored by
Dow Jones Sustainability Index and The Global 100

SEOUL, Apr. 15, 2022 – LG Electronics (LG) has been named to the Dow Jones Sustainability™ World Index, which comprises global sustainability leaders as identified by S&P Global through the Corporate Sustainability Assessment. LG also has been recognized by the Corporate Knights as one of the 100 most sustainable corporations in the world.

Leading up to these world-renowned index series, LG has reduced the environmental impact of products – from design and production, to packaging and transportation, to use and disposal – while cutting greenhouse gas emissions from LG operations worldwide.

LG has committed to transitioning completely to renewable energy by 2050 as a key component of its sustainability strategy. Since making its Zero Carbon 2030 pledge in 2019, LG has been implementing various initiatives in line with its promise to meet its commitments by the target date. By 2030, LG is on track to reduce carbon emissions generated at its worldwide business sites by 50 percent compared to 2017 figures, while simultaneously expanding its use of renewable energy.

Additionally, the company has been recognized in 2022 by the U.S. Environmental Protection Agency with the Sustainable Materials Management Gold Tier Award, Product Champion Award and Emerging Technology Award. These distinctions range from responsibly recycling 50 million pounds of e-waste in the United States over the past year to ensuring lifecycle sustainability for soundbars to developing advanced adaptive compressors for refrigerators. LG is also an eight-time ENERGY STAR® Partner of the Year.

The Dow Jones Sustainability World Index represents the top 10 percent of the largest 2,500 companies in the S&P Global BMI based on long-term economic, environmental and social criteria. The Global 100 by Corporate Knights ranks the world’s 100 most sustainable corporations that show a continued correlation between higher investor returns and strong performance on key environmental, social and governance metrics.

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[Earth Day with LG 🌎] How Green Living Can Sprout in Your Home

A woman sitting on a large windowsill that looks out on the city as she enjoys a cup of tea next to LG tiiun.

The last two years have taken a real toll on people’s physical and mental wellbeing, with prolonged social-distancing measures pushing outdoor activities and international travel out of the reach. As we continue to spend most of our time home, hobbies that can be carried out in the comfort of our home are all the rage, like indoor gardening which can help improve one’s mental resilience and physical well-being through the growing of plants that clean the air and make living spaces more beautiful and relaxing.

In line with this emerging home gardening trend, LG unveiled LG tiiun, an indoor gardening appliance, at CES 2022. The first prototype was revealed at CES 2020, and since then LG has worked tirelessly to optimize its size and weight so that the most novice of gardeners can cultivate vegetables, herbs and even flowers at home all year round. Featuring two shelves with each capable of holding up to six all-in-one seed packages along with three different seed kits, users can now bring life to a variety of home-grown green goodness in just four to eight weeks.^*

In development, the LG tiiun project has involved countless hours studying the fine details of cultivating plants, including in-depth research on numerous plant species and cultivation methods. To develop its seed kits, LG researchers went as far as travelling to Sri Lanka and Estonia to study the best soil and medium for healthy plant growth. With achieving the most eco-conscious seed kits the goal, LG tiiun seed packages now include 20 kinds of seeds from arugula and kale to thyme, peppermint and marigold.

“During the early stages of development, we considered around 80 kinds of seeds from food we eat every day to more obscure vegetable plants, like the fascinating desert Ice Plant, that most might not have heard of,” said Lim Ki-young, a senior researcher of tiiun at LG. “In the end, we made the decision to incorporate only the more familiar crop seeds that could be used in various ways into our seed kits.”

LG tiiun leverages LG’s technological expertise across multiple appliances from its best-in-class refrigerators and water purifiers to comprehensive ventilation systems. With LG’s renowned Inverter Compressor on board, the Flexible Weather Control System adjusts tiiun’s internal temperature to create the ideal conditions for organic growth, enabling plants to grow regardless of the season and temperature. And for those thinking it’s probably too high maintenance, it employs water supply technology that automatically waters the plants eight times a day for fast, strong growth.

The modern gardening appliance’s simple yet elegant design beautifully harmonizes with any décor, and comes in two sophisticated, soothing colors – Nature Beige and Nature Green – to give the green thumbs of the world more choice. To further advance the indoor gardening experience, the company released LG tiiun mini on March 3 in Korea, an accessory that lets users move their tiiun plants to a desk or end table to put them on display.

“LG tiiun delivers both practical functionality and emotional support to those looking to grow their own plants in this new era of living,” said Lee Hyun-jee, head of tiiun marketing development at LG. “Through regular updates, we hope to add smarter and more convenient features that can be controlled on the LG ThinQ app and give aspiring gardeners the next-level convenience they deserve in 2022.”

With LG tiiun, enjoy a cleaner, greener lifestyle of growing your own herbs and greens at home.

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* The cultivation period takes approximately four weeks for leafy greens, six weeks for herbs, and eight weeks for flowers.

LG OLED Objet Collection Brings Home iF Gold Award for Design Excellence

LG OLED Objet Collection with the certificate that says the collection won the iF Gold Award

Accolades for LG OLED Objet Collection Along with Appliances That
Elevate Consumer Lifestyles From Product to Service Design

SEOUL, Apr. 12, 2022 — A jury panel of 132 high profile design experts from over 20 countries awarded LG with 20 recognitions, among them the iF Gold Award for the LG OLED Objet Collection (model 65Art90). Among the awarded LG products, 16 were for Product Design while 3 were for User Interface (UI). This year, out of approximately 11,000 entries received, 73 applicants received iF Gold Awards.

The award comprehensively evaluates products based on its criteria, which include differentiation and impact, in 9 disciplines and categories – Product, Packaging, Communication, Interior Architecture, Professional Concept, Service Design, Architecture, User Experience (UX) and User Interface (UI).

LG OLED Objet Collection, one of the Lifestyle TV lineup, secured the highest iF Gold Award for outstanding easel-like design that blends seamlessly into any room with its minimalist style and subtle use of neutral colors, bringing immediate sophistication and visual harmony to any indoor space. Users can lower the cover to reveal the full extent of the screen for the maximum viewing experience or partially cover the display to only see a curated selection of lifestyle functions.

In addition, LG OLED evo Gallery Edition (77G2), LG OLED evo (65C2) and LG XBOOM 360 were also recognized in the product design category for category-leading aesthetics, functionality and technological innovation.

In UX categories, both LG OLED Objet Collection and LG StanbyME (model 27Art10) were recognized for convenience and viewing comfort for delivering more usability. An intuitive touch screen allows StanbyME to be operated with ease. The user interface designed specifically for this product is unlike any TV UI and is tailored to the viewer’s personal viewing habit.

Since 1953, designers and manufacturers have endeavored to win the renowned iF label for design. Conferred by the iF International Forum Design GmbH based in Hanover, the iF Design Award is recognized as one of the top three design awards in the world, alongside the Red Dot Design Award and IDEA (International Design Excellence Award). Winning an iF Design Award is confirmation of quality for outstanding design and exceptional customer service and, for consumers and users, an iF Design Award is guarantee that the product displaying the mark is the best in its class.

“We are very honored to be recognized at the iF Design Award after being recognized at the Red Dot Design Award for design excellence,” said Lee Chul-bae, senior vice president and executive head of LG Electronics’ Life Innovation Design Center. “LG Electronics has always strived to offer the best user experiences and the highest aesthetic value, which is why it is very meaningful to have our efforts recognized by one of the top design award.”

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LG Introduces ‘Future Home Global Innovation Challenge’ at Alpha Wolves Summit

The poster image of ‘LG Future Home Global Innovation Challenge’ at ‘Alpha Wolves Summit’ in Warsaw, Poland.

In Partnership with Wolves Summit, Company Launches Competition to Discover
Innovative Technologies and Solutions for a Better Life at Home

SEOUL, Apr. 8, 2022 — LG Electronics (LG) announced LG Future Home Global Innovation Challenge at Alpha Wolves Summit in Warsaw, Poland. Targeting startups and fast-growing companies, the challenge seeks innovations and solutions for a more convenient, connected and healthier life at home.

Alpha Wolves Summit is a special event, held on April 7 and April 8, hosted by Wolves Summit, a hybrid platform for investors and technology companies in Central and Eastern Europe (CEE). It pursues connecting established tech industry players with fund managers and promising new ventures. LG and Wolves Summit have been working closely as partners for LG Future Home Global Innovation Challenge.

Expected to garner interest from around the globe, the challenge asks entrants to submit their best ideas for innovations that will improve quality of life and user experiences at home. Winners will work with LG Future Home, the company’s new venture client unit, and be given resources and funding to help further develop their concepts and take their businesses to the next stage. The newly launched initiative will also serve as an excellent opportunity for startups nearing the commercialization of their offerings to attract additional investment. What’s more, the top 10 finalists will be invited to present at Wolves Summit’s flagship annual conference held from May 24 to May 27 in Wroclaw, Poland.

Submissions for LG Future Home Global Innovation Challenge should focus on solutions relating to one of the four following categories: ‘New Features, Accessories or Services for LG Upgradeable Appliances,’ ‘Home Appliances Reflecting New Lifestyle Trends,’ ‘New Innovations in Home Appliance Materials, Components and Control’ and ‘Future Transformation of Home Appliances.’

“We are excited to launch LG Future Home Global Innovation Challenge in partnership with Wolves Summit and look forward to working closely with the winners to create intelligent, convenient solutions for the future home,” said Oh Sai-kee, executive vice president and head of LG Electronics Home Appliance & Air Solution Company’s R&D center. “We will continue to foster open innovation and seek out like-minded partners to deliver compelling customer experiences and a better life for all.”

Submissions for the Future Home Global Innovation Challenge will be accepted from April 8 to May 9. To submit an entry or learn more about the challenge, visit challenges.wolvessummit.com/lg.

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LG Releases Preliminary Earnings for First-Quarter 2022

SEOUL, Apr. 7, 2022 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the first quarter of 2022.

LG reported revenues of KRW 21.1 trillion in the first quarter of 2022, 18.5 percent higher than the same quarter the previous year. Operating profit for the first quarter was KRW 1.9 trillion, 6.4 percent higher than the same quarter the previous year.

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

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Expanding the Personal Living Space to the Road

With electric cars well established as the future of the auto industry and autonomous vehicles just around the corner, the concept of mobility is changing at a furious pace. In fact, the auto industry is expected to change more in the next five years than it has in the last fifty, according to experts.

Today’s cars are already computers on wheels so it makes sense that automobiles and technology would follow similar trajectories. The OMNIPOD concept car announced at CES 2022 is an example of LG’s vision for the future, where transportation, technology and smart living all overlap in one product.

LG OMNIPOD is a fully autonomous vehicle that acts as an extension of the home with an onboard living space that adapts to the passenger’s unique needs. This could mean anything from serving as office space, a recording studio, video editing workroom or even a lounge. OMNIPOD’s expansive tunnel screen (Meta-environment Screen) that stretches from the floor to the ceiling is key to achieving the effect of different environments.

Before entering OMNIPOD, passengers first pass through the Air Shower which gently blows negatively ionized air over the individual to carry away dust and germs. Passengers can place their coats, jackets and shoes in the LG Styler which utilizes ionizing technology to ensure that everything is fresh and wrinkle-free on arrival at the destination, ideal for events or meetings.

Once inside the vehicle cabin, Reah adjusts the multimedia screen to create the optimal environment for productivity: the smallest screen dimension can be used as a center dashboard providing essential information such as weather, time and schedule, the mid height screen can be used as a dual monitor or the full size for Cinema mode.

The cabin’s monitoring system scans actions and commands to provide a personalized service that adjusts temperature and lighting accordingly. The interior is equipped with a refrigerator that delivers cooling in a compact space through the Peltier effect^*^. Designed to be modular, the shelves in the refrigerator can be rearranged to hold items of different sizes from soft drinks to bottles of wine as well as foodstuff. And with an induction range on top, cooking is also possible without taking up any of the cabin’s precious space.

Watching various content on the move is already a good tip to enjoy travel. By connecting OMNIPOD’s tunnel and multimedia screens, passengers can feel like they’ve virtually entered the movie they’re watching. And when the time comes for some much-needed shut-eye, OMNIPOD turns into the perfect sleeping environment by switching lights and screens off, reclining the seat and returning the screen to its original position. The cabin even monitors quality of sleep with its thermal camera and sensors to measure heart rates and body temperatures.

As an autonomous vehicle, on top of enjoying various content on the move, passengers can still monitor the outside environment in real time via exterior cameras. And those who still like driving can use driving mode and, with the MR Navi – a real-time map reflecting accurate topography and real buildings created by LG’s R&D lab and digital map specialist HERE Technologies – shown on the multimedia screen, one never has to worry about getting lost again.

Finally, once everyone has disembarked, Reah can manage the entire vehicle and ensure it remains in tiptop condition for the next trip, such as utilizing UV lighting and robot vacuums to prevent germs and dust from accumulating.

Not just a concept car, LG Vision OMNIPOD represents the company’s vision for future mobility, so watch this space to find out how you’ll be getting around in the next few years.

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^* The electrical current flowing through the junction connecting two materials will emit or absorb heat per unit time at the junction to balance the difference in the chemical potential of the two materials

LG Smart Park Named ‘Lighthouse Factory’ for Futuristic Manufacturing Technology

The foreground photograph of LG Smart Park, LG Electronics’ home appliances factory in Changwon, Republic of Korea

World Economic Forum Recognizes LG for Innovative Digital Transformation of
Its Home Appliance Manufacturing Facility in South Korea

SEOUL, Mar. 31, 2022 — LG Smart Park, a production base of LG Electronics (LG), has been selected as a Lighthouse Factory by the World Economic Forum (WEF).

Shaping the future of manufacturing, WEF “Lighthouse” facilities implement Fourth Industrial Revolution technologies, such as the Internet of Things, big data, artificial intelligence and robots, into manufacturing and supply chain operations to deliver a wide range of benefits, from increased production efficiency to enhanced environmental sustainability.

“As the world grapples with many challenges, it is remarkable to see how Lighthouses are yielding sustainability benefits while achieving business goals, which we call eco-efficiency,” said Francisco Betti, Head of Shaping the Future of Advanced Manufacturing and Value Chains, World Economic Forum. “We need them to continue illuminating the way forward for the global manufacturing community by shaping a responsible future of manufacturing that works for people, society and the environment.”

Over the past five years, LG has transformed its factory complex in Changwon, South Korea into LG Smart Park, a futuristic hub of home appliance manufacturing. The key elements of the transformation are a digitally-enabled end-to-end three-dimensional logistics system, an advanced analytics system based on edge computing technology and machine learning that predicts defects, and state-of-the-art facilities that can mass-produce multiple models to respond flexibly to customer requirements.

The newly implemented “digital twin” technology enables the operation system to analyze production processes in virtual reality. It can predict if any issues will occur within the next 10 minutes and provide exact parts and materials for the assembling of each appliance with an accurate, up-to-the-minute status of the facility’s logistics operations. Sensors utilizing deep learning technology are installed throughout the factory to monitor each phase of production in real-time, helping factory workers to preemptively identify and resolve any possible issues. As a result, the cost of defective product returns dropped by 70 percent from 2020 to 2021 while overall quality competitiveness¹ and production efficiency² were both significantly strengthened.

Floors one, two and three at LG Smart Park employ an overhead conveyor system that quickly transports boxes containing refrigerator parts to the required production lines. Attached to each line is an intelligent warehouse that monitors inventory in real-time, enabling automated materials management, including the request of additional parts and supplies.

On the ground, automated guided vehicles (AGVs) leveraging stable 5G network connectivity transport parts and materials to wherever they are needed on site. Through its three-dimensional logistics automation system, the company can minimize the amount of warehouse space needed by 30 percent compared to conventional logistics systems, and shorten the time required for hourly materials transportation by 25 percent.¹

LG Smart Park has also adopted the use of robots featuring an AI engine and camera to make the home appliance production process faster and safer. The robots undertake dangerous and complicated tasks, such as welding and the lifting of heavy parts and equipment.

LG plans to apply the innovative, smart production technologies pioneered at LG Smart Park to a total of 26 LG production facilities in 13 countries, accelerating the digital transformation of its global manufacturing network by 2025.

“LG Smart Park illustrates our strong commitment to adopting the revolutionary technologies as the leader of the global premium home appliance market,” said Lyu Jae-cheol, president of the LG Electronics Home Appliance & Air Solution Company. “We are presenting a blueprint for the future of manufacturing, one that delivers better outcomes across environmental, economic and employment aspects.”

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¹Comparing the figures from the year 2020 to 2021 according to the lighthouse site visit report by World Economic Forum.
² Units produced per hour has increased by 17 percent, comparing the figures from the year 2020 to 2021 according to the lighthouse site visit report by World Economic Forum.

5 Tech Keywords You Need to Know in 2022

The cover image of the graphic news article with the title, "2022 5 TECH KEYWORDS"

Starting the year off with CES 2022, the innovations unveiled provided a preview of technologies that are likely to dominate the news this year. Here are five keywords that are sure to influence our lives in 2022 and beyond:

The global pandemic has shown us that there is nothing more important than health and wellness. In a McKinsey survey, 79 percent of respondents said they believe that wellness is important while 42 percent consider it a top priority. LG, along with other companies, will continue developing technologies and devices that promote hygiene and improve health inside the home. At CES 2022, LG unveiled products aimed at enhancing health and nutrition, including the new LG PuriCare AeroTower for cleaner indoor air and LG tiiun to grow fresh, nutritional greens even without a garden.

With people now spending more time at home, consumers are getting more creative in utilizing their personal space. Developed for today’s home-centric lifestyle, LG Objet TV and LG StanbyME feature differentiated designs that make everyday living more enjoyable. LG’s newest lifestyle TVs look beautiful in any room, seamlessly blending in with any interior. Now anyone can relax with a movie or get in a quick YouTube workout without having to visit a movie theater or gym.

Metaverse, a portmanteau combining meta (meaning beyond) and universe, has become a popular part of our lexicon. What many tech innovators are theorizing will be the future of the internet, the metaverse may one day allow everyone to connect online for work, travel or entertainment via their digital avatars.

As more consumers embrace this new concept, LG products and devices such as the UltraGear Gaming Laptop, UltraFine Display and UltraGear Gaming Speaker will help users navigate the virtual universe more realistically by enhancing the sense of immersion for the ultimate metaverse experience.

LG shared its vision for future mobility at CES 2022 with OMNIPOD, the company’s future mobility concept cabin that blurs the line between home and vehicle. Featuring advanced modular in-vehicle appliances, adaptive interior environment utilizing a moving Meta Environment Screen and AI concierge service, OMNIPOD demonstrates what LG envisions for the future of mobility.

As consumers around the globe push companies to conduct business more responsibly, it’s crucial that businesses create products and services that prioritize the planet. LG is leveraging its R&D knowhow to develop technologies that do just that. LG’s newest array of home appliances and air solutions such as WashTower, InstaView™ Door-in-Door™ refrigerator and Therma V air-to-water heat pump ensure that minimal energy is wasted to reduce the environmental impact when running home appliances. And, also designed with the environment in mind, the 2022 LG Soundbar lineup has a lower carbon footprint throughout the entire product lifecycle, shipping with 100 percent paper packaging, using recycled plastic resin for its outer case and also saving energy during usage with relatively modest power consumption.

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Wellness, above all: McKinsey&Company “Feeling good: The future of the $1.5 trillion wellness market” Report (2021), https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/feeling-good-the-future-of-the-1-5-trillion-wellness-market
New Experience in Travel: Research and Markets “Global and China In-Vehicle Infotainment (IVI) Industry Report” (2020), https://www.researchandmarkets.com/reports/5116175/global-and-china-in-vehicle-infotainment-ivi
Research and Markets “Automotive Cockpit Electronics – Global Market Trajectory & Analytics” Analytics (2022), https://www.researchandmarkets.com/reports/4804248/automotive-cockpit-electronics-global-market
Sustainable Future: PwC “A time for hope: Consumers’ outlook brightens despite headwinds” Survey (2021), https://www.pwc.com/gx/en/industries/consumer-markets/consumer-insights-survey.html

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