2024-02-28 06:38:52
(Photo from left) LG Electronics CEO Cho Joo-wan, Meta CEO Mark Zuckerberg, and LG COO Kwon Bong-seok, who attended the meeting on this day, take a commemorative photo (Photo: LG Electronics)
To accelerate LG Electronics’ XR new business, strategic collaboration with global big tech meta will begin in earnest. By combining the capabilities of both companies, from products to content/services and platforms, we will lead customer experience innovation in the future virtual space area.
On the 28th, LG Electronics held a meeting with Meta founder and CEO Mark Zuckerberg, who visited Korea the night before, at the LG Twin Tower in Yeouido, Seoul to strengthen the partnership between global big tech Meta and XR (eXtended Reality) new business. Strategic discussions were held.
The discussion on this day was attended by Mark Zuckerberg, LG COO (Chief Operating Officer) Kwon Bong-seok, LG Electronics CEO Cho Joo-wan, HE Business Division Head Park Hyeong-se, and LG COO Kwon joined in considering the possibility of cooperation between Meta and other LG affiliates.
In particular, at the meeting on this day, in-depth discussions took place ranging from business strategies to specific issues related to the development of next-generation XR devices by both companies. CEO Cho personally tried on Meta’s MR headset ‘Quest 3’ and smart glasses ‘Ray-Ban Meta’, and also looked with interest at various prior technology demonstrations presented by Meta.
CEO Cho showed great interest in artificial intelligence (AI) innovation based on ‘LLaMa’, a generative AI platform and large language model (LLM), and also discussed the possibility of creating synergy between the two companies from the perspective of on-device AI.
LG Electronics believes that in promoting the XR business, it is important to have a balanced capability not only for devices (products) but also for platforms and content capabilities. Collaboration with Meta was also promoted at this level.
LG Electronics expects that by combining Meta’s platform/ecosystem with the content/service and platform capabilities it has accumulated through its TV business, it will be possible to create a differentiated integrated ecosystem for new XR businesses. Additionally, in the development of next-generation XR devices, great synergy can be created by combining Meta’s various key element technologies with LG Electronics’ product/quality capabilities.
XR devices are evaluated by many experts as next-generation personal devices that can replace smartphones, with a sense of immersion and intuitiveness that goes beyond the limitations of mobile screens. Because it is a wearable device worn by individuals, it is also a product that can significantly increase customer contact points. Previously, CEO Cho mentioned, “We are seeing opportunities for next-generation personal devices in the area of the XR business.”
Over the past few years, LG Electronics has been concentrating its resources on promising areas where high future growth is expected, rather than boldly ending marginal businesses, considering the market status and strategic value of its business model. The strategic collaboration with Meta is also intended to lead customer experience innovation in the area of future virtual space in preparation for the full-scale blooming of the XR market.
LG Electronics announced its 2030 Future Vision, which describes its transformation into a smart life solution company that connects and expands customers’ various spaces and experiences beyond the home to commercial, mobility, and virtual spaces. In the reorganization at the end of last year, a new XR business department was created under the direct control of the HE (Home Entertainment) business division to accelerate the promotion of new businesses in the virtual space area.
Meanwhile,
1709106199
#Electronics #discussed #strategic #collaboration #Meta #CEO #Mark #Zuckerberg…Discussed #business #collaboration
