LG THINQ UP 2.0 SHIFTS PARADIGM FOR HOME APPLIANCES TO PERSONALIZATION AND SERVITIZATION

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With Built-in Upgradability and New Subscription Services, Company's Smart Home Innovation Delivers Expanded Customer Experience 

SEOUL, South Korea, Aug. 22, 2023 /PRNewswire/ -- At IFA 2023, LG Electronics (LG) is set to unveil ThinQ UP 2.0, a smart home innovation that transforms home appliances into ultra-convenient and ultra-connected lifestyle solutions. ThinQ UP 2.0 highlights the expansion of LG's successful home appliance business into non-hardware areas, including subscription services, and confirms the company's leadership in promoting the 'servitization' of home appliances.^[1]

Aligned with its new Smart Home Solution strategy and 'Zero Labor Home Makes Quality Time' customer experience vision, LG will introduce a wide range of services designed to fulfill customers' needs and deliver greater freedom and ease in the home.

LG ThinQ UP 2.0 sets a new benchmark for personalization, tailoring product performance and service options to users' preferences throughout the entire customer journey. Unlike traditional products with fixed features and specifications, appliances compatible with ThinQ UP continuously update their essential functions and offer features suited to each individual user. A significant advancement over existing ThinQ UP appliances, ThinQ UP 2.0 products works intelligently to reduce the time and hassle of household chores, adding new services with flexible subscription options while also recommending additional services to make daily life smoother.

Hyper-personalized Appliances from the Very Beginning

The home appliance personalization process begins even before the customer receives their products. For example, customers who purchase a ThinQ UP 2.0 washing machine will be asked to participate in a three-step 'Life Pattern Analysis' survey, conducted through the LG ThinQ app. LG analyzes the survey results and applies optimized washing cycles matched to the customer's preferences, ensuring a tailor-made user experience right from the start. What's more, customers have the flexibility to adjust the order of cycles installed on their machines and can save their personal settings on the app.

Similarly customizable, LG's latest InstaView bottom freezer provides multiple options for maintaining the freshness of stored ingredients. Through the ThinQ app, users can apply precise temperature settings based on the types of food they have inside the fridge, and change the color of the LED lighting integrated into the InstaView door's glass panel. On top of that, they can leave messages and reminders for family members or housemates on the bottom freezer's LCD display.

Coming first to ThinQ UP 2.0 washers and dryers is an LG-developed on-device chip – called the DQ-C chip – and a brand-new operating system. The DQ-C chip has ample memory to support the addition of different types of content, enabling users to enjoy an array of tailored features and functions that can be easily managed via the appliances' touch displays, or the ThinQ app.

Presenting A Wide Range of Home Solutions

Leading the 'servitization' of home appliances, LG's new solution delivers personalized products and customized services that fit in with and enhance customers' lifestyles. When buying an appliance from the ThinQ UP 2.0 lineup, customers can choose from a range of services that can reduce the burden of household chores and management. These include subscriptions and smart home services that aid and augment the performance of LG's products, as well as laundry services for specialized clothing care and time-saving automated services for re-ordering detergent and fresh foods.^[2]

Thanks to the diverse capabilities of ThinQ UP 2.0, LG's new washing machines, for instance, become all-in-one solutions that support users' lifestyles; giving them one-stop access to various convenient services, from dry-cleaning to clothing storage and beyond.^[2]

Transitioning from a Product-Centric to a Smart Life Solutions Business

LG's appliance subscription service offers customers the freedom to sign up for a period ranging from three to six years in length, letting them choose the best option for their own individual circumstances. During the subscription period, the company provides monthly reports through the LG ThinQ app, suggesting personalized product recommendations based on the customer's usage patterns and preferences.

"LG ThinQ UP 2.0 marks the beginning of our journey towards a more service-based business model," said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. "A major player in the global home appliance market, LG is committed to leading the era of the 'Home as a Service' (HaaS) and will continue to present innovative solutions that enhance customers' lives better."

Visitors to LG's booth (Hall 18, Messe Berlin) at IFA 2023 from September 1-5 can experience the seamless convenience of LG's advanced ThinQ 2.0 appliances.

About LG Electronics Home Appliance & Air Solution Company 

The LG Home Appliance & Air Solution Company is a global leader in home appliances, smart home solutions, air solutions as well as visionary products featuring LG ThinQ AI. The company is creating various solutions with its industry leading core technologies and is committed to making life better and healthier for consumers by developing thoughtfully designed kitchen appliances, living appliances, HVAC and air purification solutions. Together, these products deliver enhanced convenience, superb performance, efficient operation and compelling health benefits. For more news on LG, visit www.LGnewsroom.com.

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