TV Upgrades OS Like Phones... LG Electronics Transforms from Home Appliances to Media and Entertainment Company

'webOS Partner Summit 2023' Held
200 Million webOS TVs Sold Over 10 Years
"300 Million Units Sold in 3 Years... 1 Trillion Won Investment Over 5 Years"

LG Electronics announced on the 19th that it plans to increase the sales volume of webOS-equipped TVs by 100 million units over the next three years. Considering that it sold 200 million units over the past 10 years, this represents an upward revision of its target. The company aims to expand the webOS ecosystem and transform itself from a home appliance manufacturer selling products into a media and entertainment platform company. webOS TV is a platform that allows TV operating systems (OS) to be freely upgraded like smartphones.

On the 19th, LG Electronics held the 'webOS Partner Summit 2023' at LG Science Park in Magok, Seoul. The event was attended by over 300 content providers and developers from 30 countries. This was the first event to share the current status of expanding the webOS platform ecosystem and business value with global partners.

In his keynote speech, Park Hyung-se, Vice President and Head of LG Electronics' HE (Home Entertainment) Business Division, explained the webOS expansion strategy, technological innovation plans to enhance customer satisfaction, and new platform features. Park stated, "LG Electronics is no longer just a simple hardware manufacturer but a platform company equipped with the most innovative and open software," adding, "Based on 10 years of OLED TV leadership and webOS technological innovation, we will transform into a true 'media and entertainment platform company' that provides differentiated content and services to customers." Park's remarks about transitioning from a home appliance company to a platform company align with the 'Smart Life Solution' vision announced by LG Electronics CEO Cho Joo-wan in July.

Since unveiling webOS in 2014, LG Electronics has sold 200 million LG smart TVs equipped with webOS over the past 10 years. In addition to LG smart TVs, webOS has been supplied to other company brands and product lines. Going forward, webOS will be applied not only to TVs but also to projectors, monitors, signage, and vehicles. Through this, LG plans to increase sales to 300 million units by 2026 and significantly expand the platform ecosystem. More than 300 brands have chosen webOS as their smart TV platform, a roughly 15-fold increase from about 20 brands when webOS supply began in 2021.

At the webOS Partner Summit 2023 held on the 19th at LG Science Park in Magok, Seoul, Park Hyung-se, Vice President and Head of LG Electronics HE (Home Entertainment) Division, is delivering a keynote speech emphasizing the transformation into a 'media and entertainment platform company.'
[Photo by LG Electronics]

LG Electronics also unveiled a 'platform upgrade' feature. This means supporting platform upgrades on TV OS in the same way as smartphones upgrade their OS through platforms like Google Android Play Store and Apple App Store. LG is also upgrading the 'webOS Hub' platform supplied to external TV manufacturers. Last year, it increased popular content such as cloud gaming and OTT services and introduced the industry's first OLED TV-exclusive platform.

LG Electronics plans to invest 1 trillion won over the next five years in customized and content service sectors. In collaboration with global partners, it will increase the content provided on smart TVs and focus investments on UI/UX (user interface/user experience) innovation. It also plans to strengthen viewer voice recognition capabilities necessary for AI-based search and recommendation functions.

At the end of next month, LG will launch LG Channel 3.0, applying UI design tailored to content attributes. LG Channel currently offers more than 3,000 channels in 27 countries and has surpassed 50 million users. Additionally, to secure smart TV software talent, LG has signed a software talent development agreement with Yonsei University and Sogang University. It also plans to recruit outstanding overseas talent.

This year, LG Electronics set its TV business vision as 'Sync to You, Open to All' and is undergoing a transformation into a company centered on experience and service businesses. 'Sync to You, Open to All' means presenting experiences tailored to customers' tastes and lifestyles and making those experiences accessible to everyone.

This content was produced with the assistance of AI translation services.