Vietnam GDP Growth Slows in Q1 2026 Amid Middle East Oil Crisis 
Europe's Aviation Sector on Track to Meet 2025 Green Fuel Mandate 
Trump's FY2027 Budget: Major Defense Boost and Domestic Spending Cuts 
The Beauty Beneath the Expressway: A Journey from Self to Service 
U.S. Stock Futures Stabilize Ahead of Good Friday as Investors Eye Jobs Report 
Bank of Japan Eyes Further Rate Hikes Amid Middle East Tensions and Inflation Pressures 
Japan's Services Sector Growth Slows in March Amid Rising Middle East Tensions 
U.S. Warplane Shot Down by Iran Amid Escalating Middle East Conflict 
Samsung Electronics Eyes Record Q1 Profit Amid AI-Driven Chip Boom 
Glastonbury is as popular than ever, but complaints about the lineup reveal its generational challenge 
SpaceX Eyes Historic IPO at $1.75 Trillion Valuation 
Why have so few atrocities ever been recognised as genocide? 
Nike Beats Q3 Estimates but China Weakness and Margin Pressure Weigh on Outlook 
Star Entertainment Secures $390M Refinancing Deal to Stabilize Operations 
Annie Altman Amends Sexual Abuse Lawsuit Against OpenAI CEO Sam Altman 
Trump Expands Tariffs on Pharmaceuticals and Metals One Year After Liberation Day 
Jefferies Upgrades Sodexo to Buy With €55 Target After Historic CEO Appointment 
LG Electronics is set to reinvent its brand by achieving sales of $77 billion by 2030, evolving from a traditional home appliance maker to a leader in smart life solutions. CEO Cho Joo-wan announced ambitious plans to invest significantly in non-hardware products, B2B solutions, and new growth areas like digital healthcare and robotics.
To accomplish this, LG plans to increase the proportion of three key sectors - non-hardware products, B2B solutions, and new growth areas - to make up 50 percent of its business portfolio by 2030. The company is prepared to invest more than 50 trillion won to achieve this goal, with 25 trillion won allotted for research and development, 17 trillion won for infrastructure, and 7 trillion won for strategic investments over the next eight years.
While continuing to focus on non-hardware products like smart home solutions and webOS, LG will also prioritize expanding its B2B solutions, including its electric vehicle (EV) parts business. Additionally, the company aims to establish a stronger presence in new growth areas such as digital healthcare, robotics, and electric charging stations.
LG has exited the smartphone and solar panel businesses and redirected its resources toward EV components, connected devices, smart homes, robotics, and artificial intelligence (AI). Its EV parts business, which saw a turnaround in the fourth quarter of last year, generated 8.6 trillion won in sales and is expected to achieve sales of 10 trillion won this year. LG's 2030 sales target includes a ratio of 5:3:2 for in-vehicle infotainment systems, e-powertrain, and headlamps.
Looking ahead, LG plans to enter the overseas EV charging market, starting with North America next year, and aims to establish new manufacturing facilities in the near future. The company began developing EV charging solutions in 2018 and formed a dedicated division for overseas EV business in November of last year.
In addition to its strategic growth plans, LG recently launched a new brand campaign to better connect with changing consumer preferences and market conditions. Through cost reduction efforts and portfolio restructuring, LG intends to actively address global financial challenges and focus on its core businesses.
With these initiatives, LG Electronics is poised to embrace the future and deliver innovative solutions in the smart life industry.
Photo: LG Newsroom
