It's easy to find yourself with more sources for your TV than it has inputs. Most TVs just have three or four HDMI connections, so if you have a PlayStation, Xbox and cable/satellite box, what happens ...
Some monitors and TVs only have a single HDMI port. This is fine if your entertainment system is simple, but if you have multiple devices, it can get really annoying to plug and unplug the HDMI port ...
You can change the names of your LG TV's HDMI ports to make switching between devices faster and easier.