LG Electronics announces strategic B2B plan, microLEDs to take center stage
LG Electronics announced a strategic plan to focus on its Business Solutions division, with an aim to double its sales to $7.5 billion by 2030. The division is in charge of businss-to-business (B2B) and signage displays, commercial TVs, IT devices such as laptops and monitors, robots and EV chargers.
LG says that for its commercial and signage displays, it will focus on premium fine-pitch LED displays, which include its microLED Magnit models. Indeed LG says that "MAGNIT Micro LED display will be at the forefront of this expansion". The company reveals that its annual MAGNIT sales grew almost 2X since introducing them in 2020 (though sales are still likely very low). LG plans to launch its next-generaiton AI-powered microLED TVs by the end of 2024.