LG ramps up its XR operations in partnership with Meta
In a significant move, South Korean tech giant LG Electronics has established a dedicated XR business unit within its Home Entertainment Company, marking a strategic focus on high-growth areas and the minimization of marginal businesses. This organizational reshuffle, announced at the end of last year, is part of LG's long-term goal to become a Smart Life Solution Company that seamlessly connects and expands customer experiences across various domains, including home, commercial, mobility, and virtual spaces.
The XR business unit is tasked with accelerating new ventures in the virtual space arena. LG sees opportunities for next-gen personal devices in this market, and the collaboration with Meta Platforms is a key step in this direction. The fusion of Meta's diverse core technological elements with LG's product and quality capabilities promises significant synergies in next-gen XR device development.
LG's CEO, William Cho, and the President of the Home Entertainment Company, Park Hyoung-sei, met with Meta Founder and CEO Mark Zuckerberg during Zuckerberg's tour of Asia. Discussions during the two-hour session focused on business strategies and next-gen XR device development. CEO William Cho expressed particular interest in Meta's advanced technology demonstrations, particularly Meta's large language models and on-device AI integration.
The collaboration between LG and Meta aims to drive innovation in customer experiences within the virtual space. LG envisions creating a distinctive XR ecosystem by combining Meta's platform with its own content/service capabilities from its TV business. The collaboration is also aligned with LG's Future Vision 2030, which was unveiled last year, aiming to evolve into a Smart Life Solution Company that connects and expands customer experiences across various domains.
The establishment of the XR business unit and the collaboration with Meta Platforms are part of LG's strategy to spearhead innovations in the future virtual space, anticipating the full-fledged development of the XR market. XR devices are next-generation personal devices capable of surpassing mobile screens' limitations in immersion and intuitiveness.
The meeting took place at LG Twin Towers in Seoul, with the collaboration falling under LG's long-term goal of becoming a Smart Life Solution Company. No specific individuals were named as key experts for the development of new XR devices in the collaboration between LG Electronics and Meta Platforms in the available search results. The collaboration between these tech giants is expected to shape the future of extended reality and customer experiences within the virtual space.
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