LG Thailand’s 2024 plan: AI-driven ‘affectionate intelligence’
LG Electronics’ strategy for 2024 centres around the concept of “affectionate intelligence”. This initiative aims to incorporate AI technology in its products, solutions and services to enhance consumers’ quality of life in line with LG’s “Life’s Good” motto.
At a media briefing on Thursday, Sunghan Jung, president of LG Electronics (Thailand) stated that the company's goal with AI technology is to provide 'Innovations for a Better Life' to its customers.
"LG will capitalise on the vast potential of its customer data, both in quantity and quality, derived from the over 700 million LG products currently in use worldwide." This will allow us to create products and services that better serve our customers both globally and in Thailand," he explained.
Jung then outlined the company's vision, saying: "LG's strategy throughout 2024 focuses on becoming a ‘smart life solution company’ by integrating AI technology to deliver tailored products, solutions and services.”
Meanwhile, he highlighted LG’s commitment to data security and user privacy, noting that the company uses its extensive data resources to create products that meet customers’ needs.
The “affectionate intelligence” initiative includes an AI solution that connects all LG devices through the LG ThinQ application. This integration covers a range of appliances, from washing machines to air conditioners, enhancing functionalities such as air quality detection in air purifiers.
LG Thailand will also introduce a subscription system allowing consumers to purchase products or services on a monthly basis. This system will cover both small appliances like water and air purifiers and larger ones like washing machines, dryers, refrigerators, and air conditioners.
Additionally, the company is expanding into business-to-business (B2B) and direct-to-consumer (D2C) segments.
“At LG’s headquarters in South Korea, there is a vast range of products. We have sought feedback from LG partners to help select products suited for the Thai market,” Jung noted, adding he expects these developments to help LG capture a larger market share in Thailand.
According to Statista, Thailand's consumer electronics market is expected to generate around US$5.83 billion (196.7 billion baht) in revenue this year, with a projected annual decline of about 1.8% until 2029. The largest segment in this market is telephony, which includes smartphones and related devices and is expected to reach $3.39 billion in 2024.
In a notable development, LG Thailand has moved to a new office in the One Bangkok Building. Amnaj describes the new office as designed to enhance employees’ work-life balance, through the concept of “independence and prosperity” in line with LG’s “Life’s Good” philosophy.
LG Electronics (Thailand) president Jung emphasised the significance of the move, stating that the company, which is entering its 37th year in the Thai market, remains committed to providing innovative solutions for a better life, focusing on exceptional customer experiences and developing consumer-centric products to ensure long-term growth.
The new 2,780-square-metre office includes an “immersive experience zone” showcasing LG's latest products, a “smart meeting room” for efficient and energy-saving meeting management, and a Life's Good Area for employee relaxation with panoramic views.
