SoftwareONE Posts 22.5% Revenue Surge in 2025 on Crayon Acquisition 
Japan Signals Readiness to Intervene as Yen Weakens Toward 160 Per Dollar 
Asian Stocks Drop as Trump Signals Iran War Escalation 
Nike Beats Q3 Estimates but China Weakness and Margin Pressure Weigh on Outlook 
Cathay Pacific Holds Firm on Flight Capacity Amid Middle East Conflict and Rising Fuel Costs 
Tesla Q1 2026 Deliveries Miss Estimates as AI Strategy Takes Center Stage 
CTOC Adds 3,000 Doctors, 500 Hospitals Ahead of Liquidity Push 
Eli Lilly and Insilico Medicine Forge $2.75 Billion AI-Driven Drug Discovery Deal 
MATCH Act Targets ASML and Chinese Chipmakers in New U.S. Export Crackdown 
OpenAI Executive Shake-Up Ahead of Anticipated 2026 IPO 
Microsoft's $10 Billion Japan Investment: AI Infrastructure and Data Sovereignty Push 
Morgan Stanley: Fed Rate Cuts Still on Track Despite Oil-Driven Inflation 
Iran's Stranglehold on the Strait of Hormuz: What It Means for Global Markets 
SpaceX Eyes Historic IPO at $1.75 Trillion Valuation 
Asian Currencies Weaken as Dollar Rebounds Amid Middle East Escalation 
Oil Prices Surge as U.S.-Iran Conflict Threatens Global Supply 
Oil Prices Slide as Iran Tensions Ease and U.S. Crude Stockpiles Swell 
Samsung Electronics Co. and LG Electronics Inc. are poised to make their debut at IAA Mobility 2023 in Germany, eyeing a significant stake in the rapidly expanding electric vehicle (EV) parts sector.
Scheduled to take place in Munich from September 5-8, IAA Mobility is one of the world's largest mobility trade fairs. It serves as a platform for industry experts and businesses to discuss the latest automobile trends and the future of mobility.
The Samsung Electronics' Device Solutions division, responsible for semiconductors, Samsung Display, and Samsung SDI, will attend the show. These are Samsung Group's affiliates specializing in display panel-making and battery-making, respectively.
While Samsung is a late entrant into the EV market, the company has been intensifying efforts to develop advanced car chips. Since its acquisition by Samsung for US$8 billion in 2016, Harman, Samsung's automotive and audio electronics subsidiary, has shown steady growth.
Furthermore, Samsung aims to expand its presence in the booming automobile chip market, which it perceives as one of the three major chip applications, along with servers and mobile.
Meanwhile, LG announced it will be holding its first-ever press conference titled "Taking Life's Good on the Road" on September 4 during the IAA event. The company plans to share its vision for future mobility and showcase its highly advanced mobility ecosystem to partners and customers.
LG's EV component division, specializing in in-vehicle infotainment systems, e-powertrain, and headlamps, has seen impressive annual growth of 30 percent since its establishment over a decade ago. In the second quarter, the division reported its highest revenue for that period in company history, with quarterly sales reaching 2.66 trillion won.
LG projects that the EV unit's order backlog will reach 100 trillion won by the end of this year, reflecting the surging demand for electric vehicles.
CEO Cho Joo-wan stated that LG's Vehicle Solutions division aims to become a leading player in the future mobility sector, with an annual sales target exceeding 20 trillion won by 2030. They plan to achieve this by actively adapting to new mobility trends and leveraging their expertise in business-to-consumer markets.
Photo: LG Newsroom
