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On Tuesday, SEOUL-based LG Electronics Inc. hosted an international conference to expand its smart TV content and platform business.
The tech company welcomed around 300 content developers and business partners from 30 countries to the webOS Partner Summit, which was held at LG Science Park in western Seoul. The gathering was organized to enhance the webOS ecosystem and values, LG’s own smart TV operating system.
“LG is intent on becoming a media and entertainment platform company that provides unique content and services that will improve customers’ lives,” Park Hyoung-sei, president of LG Electronics’ home entertainment division, said at the event. “This transformation was made possible by LG’s decade-long OLED TV leadership and the technological innovation of the webOS smart TV platform,” he added.
Park Hyoung-sei, president of LG Electronics' home entertainment division, speaks at the webOS Partner Summit held at LG Science Park in western Seoul on Sept. 19, 2023, in this photo provided by the company. (PHOTO NOT FOR SALE) (Yonhap)
LG plans to up the number of web-OS operated smart TVs, currently some 200 million units worldwide, to 300 million by 2026, by offering the operating system to other smart TV brands and different form factors, such as projectors, monitors, electric billboards and automobile displays.
LG said it plans to invest 1 trillion won (US$756 million) over the next five years in creating webOS content and making the system more user-friendly.
More than 300 TV brands have adopted LG’s webOS Hub, the webOS solution for third-party brands, since the South Korean tech firm began supplying the operating system to other TV manufacturers in 2021, LG said.
The company noted webOS Hub has significantly improved content in recent years, including cloud gaming and over-the-top services.
In 2021, LG acquired a majority stake in Alphonso Inc, a U.S. advertising and content data analysis company, to enlarge the webOS platform ecosystem.
Park Hyoung-sei, president of LG Electronics' home entertainment division, speaks in front of audience at the webOS Partner Summit held at LG Science Park in western Seoul on Sept. 19, 2023, in this photo provided by the company. (PHOTO NOT FOR SALE) (Yonhap)
The conference came as the South Korean consumer electronics giant was aiming to become a “smart life solutions provider” beyond the traditional home appliance maker, citing the growing importance of customer services, digitalization and electrification of traditional home gadgets and automobiles.
In July, LG said it will focus more on non-hardware products, business-to-business solutions and new growth areas, such as health care and robots.
LG aimed to raise the proportion of the three sectors up to 50 percent of its business portfolio by 2030 and invest more than 50 trillion won to reach that goal, including 25 trillion won in research and development and 17 trillion won in infrastructure.
Last week, LG hosted an annual software developer conference, aimed at encouraging the exchange of technological trends and expertise among its software developers.
In recent years, LG has sought to diversify its business portfolio and been strategic in making business decisions to stay competitive in the rapidly changing tech environment.
Attendees of LG Electronics Inc.'s webOS Partner Summit talk to each other in LG Science Park in western Seoul on Sept. 19, 2023, in this photo provided by the company. (PHOTO NOT FOR SALE) (Yonhap)
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