LG Shifts Focus to Platform-Based Tech Company with $39.5B Investment Strategy
Portfolio Pulse from Anusuya Lahiri
LG Electronics plans to invest $39.5 billion in research and development, facilities, and strategic investments to achieve $79 billion in sales by 2030. The company is shifting from a home appliance and electronics goods maker to a platform-based technology company. The new strategy includes bolstering service platforms for home appliances and strengthening business-to-business units. LG also plans to grow in areas like electric vehicle charging and digital healthcare. The company will offer webOS, its operating system for smart TVs, as a service platform provider.
July 14, 2023 | 4:58 pm
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POSITIVE IMPACT
LG Electronics' shift to a platform-based technology company and significant investment in R&D could potentially drive growth and increase the company's market value.
The company's significant investment in R&D and strategic shift to become a platform-based technology company could potentially drive growth and increase its market value. This could have a positive impact on the company's stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
LG Electronics' transformation into a platform-based technology company and its significant investment in R&D could potentially drive growth and increase the company's market value.
The company's significant investment in R&D and strategic shift to become a platform-based technology company could potentially drive growth and increase its market value. This could have a positive impact on the company's stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100