LG Electronics is strengthening its strategic partnership with Meta Platform to advance its augmented reality (XR) business. The aim is to combine the companies’ strengths across products, content, services and platforms to drive customer experience innovation within the fast-growing virtual space.
LG executives, including CEO William Cho and Home Entertainment Company President Park Hyun-sei, met with Meta founder and CEO META this week at the LG Twin Towers in Yeouido, Seoul. I met with Mark Zuckerberg. The meeting coincided with Zuckerberg’s trip to Asia. The two-hour session discussed business strategy and considerations for next-generation XR device development. While experiencing the Meta Quest 3 headset and his Ray-Ban Meta Smart glasses, Cho talked about Meta’s advanced They showed great interest in the technology demonstration.
LG envisions that by combining Meta’s platform with unique content/service capabilities from its TV business, it will be able to create a unique ecosystem in the XR space, one of its new business areas. Additionally, the combination of Meta’s diverse core technology elements with LG’s product and quality capabilities is expected to create significant synergies in the development of next-generation XR devices.
XR devices are emerging as next-generation personal devices that can exceed the limits of mobile screens in terms of immersion and intuitiveness. Wearable devices offer the potential to significantly expand customer interactions. Cho previously said, “We see opportunities for next-generation personal devices in the XR business space.”
In recent years, LG has chosen to minimize marginal businesses based on market dynamics and strategic evaluation, and has strategically focused resources on promising areas with high growth potential. The collaboration with Meta is in line with this strategy, which aims to lead the innovation of customer experience within future virtual spaces, with an eye on the full-scale development of the XR market.
Last year, LG announced its Future Vision 2030, outlining its long-term goal to evolve into a smart life solutions company that can seamlessly connect and extend customer experiences across various domains, including home, commercial, mobility, and virtual spaces. As part of the organization’s reorganization at the end of the year, a division specializing in XR was established within the Home Entertainment Company to accelerate the pursuit of new businesses in the virtual space field.
