LG Electronics’ (LG) CEO William Cho highlighted strategies to strengthen the company’s presence in the global B2B market during his recent visits to the USA and Europe.
While meeting with the heads of local subsidiaries, CEO Cho underlined the need to deliver outstanding customer experiences through advanced, integrated solutions that seamlessly combine software and services with differentiated hardware products.
Beginning in Las Vegas, Nevada, USA at the start of the year, where the CEO attended CES 2023 and discussed the electric vehicle component business with strategic partners, including GM and Magna, CEO Cho visited Barcelona, Spain this month, where he attended ISE 2023, Europe’s largest display exhibition.
After witnessing the latest industry and technology trends first-hand, Mr. Cho met with the CEO of Odeon Group, Europe’s largest cinema operator. CEO Cho toured local Odeon theaters equipped with LG Cinema LED screens and held discussions around mid- to long-term strategies, potential partnerships and future challenges in the information display (ID) business.
“The exceptional customer experience provided by LG’s ID business is based on in-depth research into what customers in each market value,” said CEO William Cho. “We will continue to improve our capability to deliver customized, integrated solutions that further anticipate customer needs.”
LG plans to further grow its global ID business by strengthening software and service capabilities. To increase sales of its integrated solutions, the company aims to provide highly profitable services that utilize the company’s Pro:Cloud platform.
CEO Cho then traveled back to the USA, stopping in Atlanta, Georgia, to attend AHR Expo 2023, one of the world’s largest heating, ventilation and air conditioning (HVAC) industry events.
The CEO stated that LG will continue to bolster its cutting-edge HVAC technologies, which include AI-powered, high-efficiency solutions that save energy as well as smart home platforms that can be controlled and monitored remotely.
“To become a top player in the global HVAC market, we must provide excellent customer experiences by leveraging our advanced home appliance technology,” emphasized CEO Cho. LG is expanding its number one position in the system air conditioner sector to new and growing markets.
In rapidly growing system air conditioner markets in Latin America and Central Asia, the company is also seeking to reinforce its strong position by securing cost competitiveness and strengthening its product lineup and after-sales service infrastructure. In Europe, the company will pursue growth by aggressively investing in the development of optimized heating systems.
Additionally, LG is diversifying its profit structure by expanding its B2B business areas through continuous investment, mergers and strategic cooperation.
The company currently offers a wide range of B2B solutions including ID, information technology (IT), robotic and electric vehicle charging solutions (Business Solutions Company); infotainment, electric vehicle powertrain and vehicle lighting systems (Vehicle component Solutions Company); system air conditioners and building management systems, built-in home appliances and component solutions including compressors and motors (Home Appliance & Air Solution Company); and the webOS platform (Home Entertainment Company).
