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LG Electronics Boosts Smart TV Platform, Opens Store Latin America

by Kim Jam / Feb 26, 2021 03:27 AM EST

LG Electronics Inc. announced that their television maker rivals could use the company's smart TV platform as they are eyeing to boost its software capability.

The TV maker giant said that there are already 20 TV manufacturers to release TV using its webOS platform, including Konka, RCA, and Ayonz.

LG also revealed signing a partnership with streaming service giants like Amazon, YouTube and Netflix, and Universal Electronics Inc.

This move of LG is to attract more TV companies to use its smart TV platform and hopes to spawn profits and widen its presence in the software amenity.

LG Electronics said webOS' openness, easy accessibility, and user-friendly interface would attract more TV makers. It will actively support content and broadcasting services to expand the ecosystem of its smart TV platform.

LG Electronics has been upgrading its software capabilities in the TV business, the company said.

According to Omdia, a market researcher, smart TV generated 84.8 percent of total shipments in 2020. The researcher expected to top 90 percent after four years.

LG Electronics revealed that 90 percent of its TVs shipped last year were smart TVs through which users can enjoy video content with an internet connection. The company sent a total of 30 million TVs last year.

LG Latin America

South Korea's major home appliance maker opened its first premium shop in Panama City, Panama, on Friday.

The shop has a size of 470 square meters, and consumers can experience LG's luxury home appliance brand, LG SIGNATURE, as well as its artificial intelligence and Internet of Things solutions.

The company said that they ventured online shopping for Latin Americans to help consumers amid the pandemic.

LG stressed that its premium brand shop in Panama would serve as a stepping stone for the company to promote its brand. It will launch marketing programs dedicated to consumers in the region to boost its presence better.

LG presently runs some 1,400 premium stores overseas.

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