Kimun Paik
Senior Vice President of Commercial Displays
LG Electronics USA Business Solutions
Part 1
This is perhaps the most exciting time I’ve experienced for LG Commercial Displays and for LG Electronics’ B2B (business-to-business) area as a whole since I joined the company in 1993. I have never been more proud to be part of this company.
LG has many competitive advantages in commercial displays. But today, LG has another competitive advantage in being the only company to produce double-sided OLED displays, advanced new commercial products that satisfy all of the requirements needed in public displays. Such competitiveness has led LG to lead the commercial display market not only in the U.S., but also globally.
Owing to LG’s competitiveness, the digital signage B2B sector has achieved remarkable success. LG Commercial Displays recently won a contract worth USD 50 million—the largest in the history of the digital signage business—for the replacement of all menu boards in the leading quick serve restaurant chain in the U.S. with our signage displays.
With the success of this project and others, LG’s digital signage business is expected to grow by over 200 percent since last year. More business is on the horizon, as many other restaurants in the U.S. are about to digitalize their menu boards as the U.S. government plans to require restaurants to list calorie information on the menus. In addition, the commercial display market is growing as many retail shops are planning on placing digital displays to set them apart from competitors.
Such a shift to digital signage can also be seen in areas related to transportation, such as airports and bus stations. LG recently won the contract to replace all flight information displays at Orlando International Airport. LG competed with three other companies for excellence in areas such as display color spectrum and viewing angles, and was finally selected as the sole display provider after eight months of rigorous testing and comparative studies. More than 2,000 LG digital displays will be installed at this busy airport in the coming year.
In hospitality, LG has the largest market share in the hotel TV business in the U.S., with double-digit percent growth compared to the last quarter. In fact, over half of the hotels in the U.S. use LG TVs, and in the Chicago area, where we just opened our new LG Business Innovation Center, LG TVs are installed in the majority of hotels.
These are just a few examples of the many successes LG B2B businesses are achieving. I attribute this success to a foundation of trust. Next week I’ll explain LG B2B’s foundation of trust and how the company is bringing innovation to life for commercial display customers from coast to coast.