LG Electronics Supplies webOS to Over 20 TV Companies... Strengthening Platform Business
TV Business Focused on Hardware Expands into Software Platforms
User Experience with Free Content Service LG Channel and Voice Recognition Based on LG ThinQ
[Asia Economy Reporter Kim Heung-soon] LG Electronics announced on the 24th that it will enter the TV platform business by promoting its own 'web operating system (webOS)'. webOS is LG Smart TV's proprietary software platform, praised for its user-friendly AI remote control, intuitive user interface, and excellent openness and accessibility.
LG Electronics has established cooperative systems with global content, technology, and solution companies such as Netflix, Amazon, YouTube, Realtek, CEVA, and Universal Electronics, and plans to supply the webOS platform to more than 20 TV manufacturers worldwide starting this year. It also offers various additional features such as LG Channels, which provides free broadcast content on smart TVs, and AI 'ThinQ'-based voice recognition. webOS TV users can use the AI remote control, which boasts excellent ease of use, and receive software updates provided by LG Electronics.
As the time spent at home increased due to COVID-19, demand for enjoying various content by connecting smart TVs to peripheral devices or the internet has also risen. According to market research firm Omdia, the proportion of smart TVs among TVs shipped worldwide increased from 71.6% in 2018 to 84.8% last year. It is expected that smart TVs will exceed 90% of all TVs by 2024.
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Accordingly, LG Electronics is expanding its TV business, which was hardware-centered, into the software field. Following the acquisition of advertising and content data analysis company Alphonso last month, it is accelerating diversification by entering the platform business. Park Hyung-se, head of LG Electronics' HE Business Division, said, "The ease of use and openness of webOS TV are widely recognized in the market," adding, "We will expand our business areas based on TV technology encompassing software and hardware and strengthen our position in the global TV market."
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