"Evolution into a Media & Entertainment Platform Company"
Expanding Differentiated Customer Experiences with Voice ID and AI Chatbots
Park Hyung-se, head of LG Electronics' HE Business Division, stated at the 'webOS Summit 2024' held at Paradise Hotel in Incheon on the 27th, "We will evolve into a 'media & entertainment platform company' that brings joy to customers through continuous innovation of the webOS platform."
To this end, LG Electronics plans to invest over 1 trillion KRW by 2027 to strengthen its platform business capabilities. This year, webOS platform sales are expected to exceed 1 trillion KRW, a fourfold increase compared to 2021, positioning it as a next-generation unicorn business.
On the 27th, at the Paradise Hotel in Incheon, Park Hyung-se, head of LG Electronics HE Business Division, presented the webOS platform business strategy at the 'webOS Summit 2024'. [Photo by LG Electronics]
On the 29th, LG Electronics announced that Park introduced the mid-to-long-term vision and business strategy of webOS at the event, emphasizing, "webOS will evolve to allow customers to enjoy content more easily and conveniently in their daily lives."
webOS refers to the smart TV operating system developed independently by LG Electronics. Through webOS, LG Electronics is expanding the platform into various areas beyond TVs, including automotive infotainment and smart devices. In automotive infotainment, LG has secured major global automakers as clients and is expanding cooperation.
Marking its 10th anniversary this year, the webOS platform has been adopted by over 400 brands worldwide and is installed on 220 million smart TVs. The event, themed "Differentiated Customer Experience Presented by AI-Evolved webOS," was attended by more than 300 participants from over 140 companies across 24 countries, sharing the achievements and vision of the webOS platform business.
At the event, Park introduced differentiated webOS services such as 'Voice ID,' which enables user identification and account login by voice, the personalized content recommendation service 'AI Concierge,' and the AI-powered TV status diagnosis service 'AI Chatbot.' He also demonstrated cloud gaming services provided on webOS TVs and ultra-low latency Bluetooth connection technology developed in collaboration with MediaTek and Laser.
On the 27th, overseas partner representatives of LG Electronics are experiencing webOS content at the 'webOS Summit 2024' held at Paradise Hotel in Incheon. [Photo by LG Electronics]
Park presented three key strategies to strengthen the webOS platform business: ▲Enhancing content competitiveness and convenience ▲Expanding the webOS ecosystem ▲Advancing competitiveness in platform-based advertising business.
LG Electronics plans to expand gaming, content services, and advertising businesses to strengthen webOS competitiveness.
To improve customer convenience, LG Electronics launched the 'webOS Pay' service in major European countries. This service allows customers to easily search for content, make payments, and watch all within the TV using only the TV remote by utilizing payment methods registered to their TV accounts. Content providers can also offer purchase and subscription services to customers within the webOS platform without implementing separate payment systems. LG plans to add more service countries in Europe within the year and subsequently expand support globally to South Korea, North America, and other regions.
Through 'LG Channel,' LG is building a platform that satisfies both viewers and advertisers with premium content channels and personalized advertising. LG Channel is an ad-supported free service offering over 3,800 channels on smart TVs equipped with webOS in 29 countries worldwide.
Park said, "webOS is a platform that can apply new technologies such as AI the fastest based on the data accumulated so far," adding, "We will continue to expand the webOS ecosystem to provide differentiated customer experiences."
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