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LG Electronics plans $39.5B investment to reach $79B in sales by 2030

Variety and Tech

14-07-2023 | 09:21

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LG Electronics plans $39.5B investment to reach $79B in sales by 2030

LG Electronics plans to spend $39.5 billion (50 trillion won) in R&D, facility and strategic investment as it aims to reach $79 billion (100 trillion won) in sales by 2030, up from $51.4 billion (65 trillion won) in 2022.

The Korean electronics and appliances behemoth, once a major name in the smartphone industry, rolled out its new strategy, transforming its home appliance and electronics goods maker into a platform-based tech company.

LG will bolster service platforms on its home appliances like TV products and white goods, reinforce business-to-business (B2B) units by leveraging its experience in the B2C market and accelerate new growth businesses such as electronics vehicle (EV) charging and digital healthcare.

Read the full story at:

https://techcrunch.com/2023/07/14/lg-electronics-plans-39-5b-investment-to-reach-79b-in-sales-by-2030/

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