LG Electronics is transforming from a leading home appliance and consumer electronics company into a smart life solution company by expanding its solutions to diverse spaces wherever customers’ lives exist. Hyoeun Kim, Vice President of LG, conducted an interview with Forbes, during which she discussed the brand’s reinvention and LG’s unwavering commitment to its customers.
Vice President of LG explained that LG’s transformation into a Smart Life Solution Company is achieved by enlarging its offerings beyond home appliances to include B2B and platform-based services. This shift enhances customer relationships and creates synergies across various sectors, reinforcing the LG brand’s role in this evolution.
Like home, mobility, commercial and digital spaces, LG is venturing into B2B services and platform-based offerings like webOS, indicating a significant shift in its business strategy. At this important and historic moment, the LG brand is aiming to play an even more crucial role in building relationships with its customers and partners that are trusted, relevant and engaging, unifying the expanded business portfolio for stronger synergies.
Kim emphasized the importance of brand reinvention, contributing to LG being recognized as one of the best global brands in 2024 by Interbrand.
Moreover, Kim noted that optimism is crucial for navigating challenges during business transformation and fostering human-centered innovation, coining the term “Brave Optimism” to describe this mindset. Optimism is essential for overcoming challenges during business transformation and fostering human-centered innovation. LG emphasizes on the need for courage through the concept of “Brave Optimism”, that is highlighted as a core value within LG’s culture, by maintaining belief in customer needs and solutions is vital, even when faced with doubts and obstacles.
As for the slogan “Life’s Good”, it encapsulates LG’s brand promise, reflecting the company’s commitment to enriching customers’ lives through innovation and positive impact, and enhancing customer lives through innovation. The brand aims to make a positive impact on individuals and the planet, reinforcing its promise to customers believing in the potential for customers’ lives to improve, positioning itself as a facilitator of this enhancement.
Looking ahead, Kim expressed confidence in LG’s ability to continue delivering on this promise across diverse spaces, inviting stakeholders to stay tuned for future developments.
Kim concluded by highlighting LG’s aims to maintain its reputation for cutting-edge technology and exceptional experiences in the home space. The brand will continue to deliver on its promise of “Life’s Good” across various sectors, ensuring relevance in customers’ lives.
Finally, LG is poised for a new journey, inviting customers to stay engaged with its evolving offerings.