LG Electronics Unveils 2025 Business Strategy

(RTTNews) - LG Electronics' CEO, William Cho, along with key executives, presented the company's 2025 business strategy during a press conference for Korean media held in Las Vegas, Nevada, U.S.A.

As a part of the Future Vision 2030, LG aims to expand its existing device-centric business into mobility and commercial spaces. The company seeks to transform into a smart life solutions provider that connects and enhances customer experiences. William noted that LG is increasing its market presence through new business models like subscription based-services and the online brand shop.

The platform-based service business, which is contributing to the transformation of the company's business structure into a high-profit model, aims to increase its revenue by more than five times by 2030 - ultimately accounting for 20 percent of LG's total operating profit.

By 2030, LG expects its B2B business to account for around 45 percent of all revenue generated by the company. B2B revenue made up approximately 27 percent of total revenue in 2021 - a figure that rose to 35 percent by the end of last year.

William stated that LG will continue to concentrate on strengthening core technologies across eight core technologies: software, system on chip, AI, robotics, materials and parts, standards, next-generation computing and cloud/data.

In addition to investing in facilities and R&D, LG is actively exploring the strategic allocation of investment resources for equity investments and M&As to further accelerate the company's growth. Previously, LG announced its plan to inject over KRW 50 trillion by 2030 to drive portfolio transformation and qualitative growth.