LG Electronics expedites global B2B push with signage displays

LG Electronics Inc., South Korea’s electronics giant, is betting big on digital signage displays as part of its global B2B push to offset weakening home appliance demand amid the economic downturn.

True Digital Park West, Southeast Asia’s largest startup hub in Bangkok, Thailand, has recently completed the installation of 50 light-emitting diode (LED) and digital signage displays that were supplied by LG Electronics, along with its webOS software customized for True Digital Park West.

The screens installed across the building from the lobby to the offices and corridors display the building's information, map and digital advertising commercials. The total area of the displays is about 390 square meters (4,197.9 square feet), nearly equivalent to the one large screen installed in Wembley Stadium, also supplied by LG Electronics, in 2021.

With LG Electronics’ webOS software and LG ConnectedCare, a cloud service for signage operation, the operation of the signage screens or their malfunctions can be monitored and managed remotely in real time.

The latest massive signage order is the result of the Korean tech giant’s efforts to expand its presence in the global B2B market, which is less sensitive to economic cycles than the consumer electronics market.

LG CEO Cho Joo-wan on his recent business trip to the US and Europe early this month also emphasized the importance of expanding the company’s presence in the global B2B market and fostering its information display (ID) business.

The company focuses more on signage displays as the digital signage market is burgeoning in line with the growing demand for digital advertising commercials.

Global industry tracker Omdia forecasts the global digital signage market to grow to 7.49 million units in 2025 from 6.98 million units in 2023.

Industry observers also expect signage displays to serve as more than an advertising platform with more tailored features to create unique value for different customers.

LG Electronics is currently developing various customized signage displays supported by an array of features to meet the diverse demands of different clients.   

It recently launched its cinema LED screen brand "LG Miraclass" to win the growing information display market.

Write to Sungsu Bae at baebae@hankyung.com

Sookyung Seo edited this article.