Adrian J Cotterill, Editor-in-Chief
LG Electronics (LG) is ramping up its strategic collaboration with Meta Platforms, Inc. (Meta), aiming to expedite its extended reality (XR) ventures.
The aim we are told is to combine the strengths of both companies across products, content, services and platforms to drive innovation in customer experiences within the burgeoning virtual space.
On February 28, LG’s top management, including CEO William Cho and Park Hyoung-sei, president of the Home Entertainment Company, met with Meta Founder and CEO Mark Zuckerberg at LG Twin Towers in Yeouido, Seoul.
The two-hour session saw discussions on business strategies and considerations for next-gen XR device development.
LG envisions that by bringing together Meta’s platform with its own content/service capabilities from its TV business, a distinctive ecosystem can be forged in the XR domain, which is one of the company’s new bu
Over recent years, LG has strategically concentrated resources on promising future areas with anticipated high growth, opting to minimize marginal businesses based on market dynamics and strategic assessments. The collaboration with Meta aligns with this strategy, aimed at spearheading innovations in customer experiences within the future virtual space, anticipating the full-fledged development of the XR market.
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