LG presented its vision to become a media and entertainment platform company
18 September 2023, 23:40:41
LG Electronics (LG) today shared its first step to become a media and entertainment platform company. It believes this business transformation will enrich customers' lives by delivering valuable services and a unique collection of curated content in products, including LG OLED and LG QNED TVs. This vision was presented at the webOS Partner Summit 2023, held at the LG Science park in Seoul, South Korea.
Since its launch on LG Smart TVs in 2014, webOS has been one of the most widely used smart TV platforms in the world. Powering more than 200 million LG TVs worldwide, webOS also supports several third-party TV brands in multiple markets. Moving forward, LG plans to extend webOS to more third-party TV companies and expand the platform to other product categories. Within 3 years, LG expects to have over 300 million webOS-powered devices.
To deliver the unmatched convenience and expansive ecosystem of webOS to a broader customer base, LG has already applied its platform webOS to a range of categories, including projectors, digital signage, and in-vehicle infotainment systems. Moreover, the number of third-party partner brands that have embraced webOS Hub, the webOS solution for third-party brands, has grown substantially, increasing from 20 just two years ago to over 300 today.
The webOS smart TV platform is continuously evolving, providing seamless upgrades that add support for new services and bringing constant refinement to the user interface (UI) and user experience (UX) design based on LG's deep understanding of customers. To allow as many users as possible to enjoy the latest version of webOS on their home TVs, LG is offering seamless support for TV operating system upgrades and updates via platform upgrades even for earlier TV models.
LG is set to make a substantial investment of KRW 1 trillion in its webOS business over the next five years in order to provide more content and services that cater to the diverse lifestyles and preferences of consumers. By boosting its competitiveness in content and services, LG believes it will further elevate the webOS user experience.
LG is also strengthening innovation in the area of AI-based search and recommendations. The company plans to incorporate a voice user interface (VUI) feature into partner companies’ apps, which will let webOS users easily control and navigate third-party content services with their voice, and enable swift and seamless content discovery.
Service usability will likewise be enhanced. LG Channels 3.0, LG’s premium, free streaming service, boasts a growing selection of TV series and has a revamped UI that allows users to view more content options, including live channels and movies, on the screen, reducing the need to scroll. And thanks to the new UI, users can now easily explore what’s on other channels without having to pause or navigate away from what they’re watching. Available in 27 countries worldwide, LG Channels currently offers over 3,000 channels and has over 50 million subscribers as of March 2023.
LG is driving change with a genuine customer-centric approach, as represented by its TV business's "Sync to You, Open to All" vision. The vision expresses the company’s aim to provide personalized experiences that cater to each customer’s preferences and lifestyle, and to create products that are accessible to all.
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