Get set to have to pay a subscription if you are thinking of buying an LG Electronics appliance with the South Korean Company who are on a mission to extract monthly subscription revenue from their customers set to use IFA to launch a new range of washing machines.
The news model has LG’s own AI and Direct Drive technology built in. What’s not known is which features in the future will only be actionable via a subscription.
The new models set to be released at IFA 2024 will also have Pet Care cycle feature.
LG Claims that their new offering delivers larger washing load capability because of the introduction of new increased drum capacity of up to 16 kilograms.1
The South Korean Company who has admitted that subscriptions will be a key part of their future revenue streams claims that at the core of the new washer’s performance is the AI DD 2.0, which utilizes deep learning technology to automatically detect the load weight, fabric softness and soil level of the garments.
The washer uses 6Motion technology to select the optimal washing pattern, reducing fabric damage by 10 percent to help clothing last longer.
In several Countries LG Electronics service and warranty rankings are rated poorly with 91% of consumers on Trust Pilot ranking them with only one star out of five.
“We are delighted to showcase our new washer and demonstrate how the company’s technologies simplify the washing process with expanded capacity and tailored features,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “We will continue to introduce advanced AI-based home appliance solutions that meet the needs of diverse spaces and lifestyles, providing enhanced benefits to make daily life more convenient for all.”
LG Electronics’ annual subscription sales amounted to A$1.2 billion last year, making it a key transition business for LG Electronics.
Now they are looking to get consumers to not only buy their product but a pay a subscription to use key features on their TV’s and appliances.
In the first half of this year, growth is expected to be faster than in the same period last year, recording the largest annual subscription sales at the end of 2023.
The business claims that through a subscription to LG Electronics’ home appliances, consumers can manage products from cleaning, performance checks, and replacement of consumables such as filters through regular visits by care managers, and receive free repair guarantees throughout the home appliance subscription period.
The model also allows them to sell new products directly removing the need to deal with retailers.
