[Photo provided by LG Electronics Inc.]
LG Electronics is adding Alphonso, a Silicon Valley-based TV ad data analysis startup, to strengthen its global leadership in TV with software solutions that will bring more innovation to the benefit of consumers.
The Korean home electronics giant said it will invest nearly $80 million to become Alphonso’s largest investor with a controlling stake of more than 50 percent.
Alfonso is a TV ad and content analysis company established in 2012 and has developed an artificial intelligence (AI) image analysis solution. It has TV viewing data of 15 million households in North America. Alfonso has collaborated with global leading TV manufacturers such as LG Electronics, Sharp, Toshiba, Hisense, and Skyworth, as well as TV solution technology companies.
LG Electronics said it will combine Alphonso’s software and services – including Alphonso’s data analytics, media planning and activation, and Video AI capabilities – with its broad range of home entertainment products.
With Alphonso’s TV data analysis capabilities, LG Electronics will be able to better fulfill consumers’ needs by providing more customized services and content to consumers, the company added.
LG Electronics` TV shipments last year amounted to 30 million units, of which premium OLED TVs accounted for more than half. Among TVs shipped worldwide, 83 percent are smart TVs which feature apps for streaming shows. More than 90 percent of LG-branded TVs are now smart TVs.
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