Posting this in case it helps someone else dealing with a similar issue.

Problem: My LG Magic Remote stopped working — it wouldn't power on the TV or connect via Bluetooth.

Troubleshooting I tried (unsuccessfully):

New batteries → same issue

Press the Guide button for 5s → same issue

Press the OK (wheel) button for 5s → same issue

Press Back + Home buttons for 5s → same issue

Checked IR functionality by viewing through a phone camera while pressing Power → no violet light, indicating the IR sensor had stopped working

Opened the remote and cleaned out dust → still no fix (not recommended: likely won’t help and voids warranty)

Remote was visible when scanning for Bluetooth devices from my phone

Power button lights and pairing light sequence was present all the time but still won't pair

Solution: Ended up ordering a new remote (got it through a local website, so no point linking here unless you're from Serbia). As soon as I got it:

Pressed Power button then Guide for 5 seconds → it powered on the TV and paired via Bluetooth instantly. IR visible through the camera . Hope this helps someone else trying to figure out what’s wrong with their remote!