LG Electronics and global big tech company Meta are joining forces to develop next-generation extended reality (XR) devices. LG Electronics announced on Feb. 28 that it is officially starting strategic cooperation with Meta to accelerate its XR business.
Meta’s CEO, Mark Zuckerberg, visited LG Twin Towers in Yeouido, Seoul, on the same day to discuss strengthening the XR partnership with LG Electronics. This was his first official appointment since arriving through Seoul Gimpo Business Aviation Center the night before, and it is his first visit to Korea in 10 years since 2013.
The meeting was attended by LG’s COO Bong-Seok Kwon, LG Electronics CEO Jo Seong-Jin, and Park Hyung-Se, the head of the HE Business Division, among others. COO Kwon participated in the meeting considering the potential cooperation between Meta and LG affiliates.
LG Electronics and Meta conducted in-depth discussions on business strategies related to the development of next-generation XR devices, covering specific issues. CEO Jo personally tried on Meta’s Quest 3 mixed reality (MR) headset and Ray-Ban Meta smart glasses, and showed keen interest in the various advanced technologies presented by Meta.
Especially, CEO Jo showed great interest in Meta’s artificial intelligence (AI) based on a large language model (LLM), discussing the potential for creating synergy from an on-device AI perspective.
LG Electronics believes that it is important to have a balanced capability in devices, platforms, and content in promoting the XR business, and is thus pursuing cooperation with Meta. The combination of LG’s content, services, and platform capabilities accumulated through the TV business with Meta’s platform and ecosystem is expected to create a differentiated integrated ecosystem for the XR new business. They also plan to combine Meta’s various core element technologies with LG Electronics’ product and quality capabilities in developing next-generation XR devices.
Experts evaluate XR devices as next-generation personal devices that can replace smartphones due to their immersive experience and intuitiveness, surpassing the limitations of mobile screens. Being wearable devices that individuals can wear, they significantly increase customer touch points.
Over the past few years, LG Electronics has focused its resources on promising areas expected to grow significantly in the future, courageously discontinuing businesses with limitations while considering the market status and strategic value of business models. The strategic collaboration with Meta is aimed at leading customer experience innovation in the realm of future virtual spaces, in preparation for the full bloom of the XR market.
LG Electronics has announced its 2030 future vision of transforming into a smart life solutions company that connects and expands customers’ various spaces and experiences from inside the home to commercial, mobile, and virtual spaces. Additionally, at the end of last year, LG Electronics reorganized to accelerate new business initiatives in the virtual space sector by establishing an XR business unit within its HE Business Division.