LG Electronics makes big B2B push in US, Europe
CEO visits the US, Europe to meet business partners, set business strategiesBy Jie Ye-eun
Published : Feb. 8, 2023 - 14:15
LG Electronics CEO Cho Joo-wan recently visited the US and Europe to strengthen the company’s presence in the global business-to-business market, seeking ways to expand partnerships with its major clients, the tech firm said Wednesday.
Beginning with his attendance at this year’s Consumer Electronics Show in Las Vegas in early January, the CEO discussed the electric vehicle component solutions business with LG's strategic overseas partners, including GM and Magna.
Cho also traveled to Barcelona this month and attended the annual Integrated Systems Europe, the largest display exhibition in the continent, to observe the latest industry and technology trends.
With the CEO of Europe’s largest cinema operator Odeon Cinemas Group, he inspected the theaters equipped with LG’s LED cinema screens and discussed the two sides’ mid- and long-term strategic partnerships in the information display business.
This year, LG plans to expand its ID business globally by strengthening software and service capabilities. The company aims to increase sales of its integrated solutions by providing highly profitable services with LG Pro:Cloud, which is the company’s self-developed cloud-based ID service platform.
“Even in the ID business, LG Electronics has to provide outstanding customer experiences by conducting in-depth research on the key value-chain of each customer group by industry,” Cho said. “We will continue to improve our capability to deliver customized, integrated solutions that further anticipate customer needs.”
The LG CEO traveled back to the US to attend this year’s Air Conditioning, Heating and Refrigeration Expo, one of the world’s largest heating, ventilation and air conditioning industry events, in Atlanta.
To enhance the company’s competitiveness in air conditioning systems, he stressed further strengthening of artificial intelligence-based innovative technology, high-efficiency solutions for energy-savings and remote-controlled smart home platforms.
LG is seeking ways to further strengthen its market dominance through aggressive investments in Europe and North America, as well as the fast-growing Latin American and Central Asian markets, by developing locally optimized heating and cooling systems, strengthening its lineup and expanding infrastructure dedicated to service and maintenance.
“To become a top player in the global HVAC market, we need to present excellent customer experiences based on our advanced home appliance technology. … Let’s become the No. 1 system air conditioner manufacturer in both advanced and growing markets,” the CEO said.
During his recent visits to the USA and Europe, the CEO also met with the heads of local subsidiaries and highlighted the importance of delivering outstanding customer experiences through advanced integrated solutions of hardware and software products with differentiated services.
LG has diversified its profit structure in the B2B field by expanding its business areas through continuous investments, mergers and acquisitions, and strategic cooperation. It offers a wide range of B2B solutions, including ID, IT, robotic, electric vehicle powertrains, vehicle lighting systems, system air conditioners, built-in home appliances and webOS platforms.
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