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Korea’s leading battery manufacturer, LG Energy Solution, announced Monday the launch of a new program to accept collaboration proposals from companies with innovative battery technologies, aiming to spur growth through technical partnerships. Through its Open Submission Start-up program, LG Energy Solution will offer joint research and development opportunities or potential investment, following a thorough review and technology assessment of submitted proposals. As part of the initiative, the c
Korea’s electronics parts maker LG Innotek announced Monday that it has partnered with Boston Dynamics, a US-based robotics subsidiary of Hyundai Motor Group, to develop a vision system for a future edition of the Atlas humanoid robot. Under the partnership, LG Innotek will design and supply hardware modules for the robot’s vision sensing system, drawing on its expertise in advanced sensors for smartphones, home appliances and mobility devices. Boston Dynamics will be responsible for developing
LG Electronics broke ground on its third home appliance plant in India on Thursday, investing $600 million as part of a broader push to strengthen its presence in one of the world’s fastest-growing consumer markets. The new plant, located in Sri City, a special economic zone in the southern state of Andhra Pradesh, follows the Korean tech giant’s existing factories in the northern city of Noida and in the southern city of Pune. With the new facility, LG seeks to bolster its production capacity t
LG Energy Solution said Wednesday it turned a profit in the first quarter, with aggressive measures to improve cost efficiency amid rising uncertainty in the US tariff policies. According to the company’s earnings release, its sales revenue and operating profit rose 2.2 percent and 138.2 percent to 6.26 trillion won ($4.38 billion) and 374.7 billion won, respectively, in the first quarter of this year. Its operating profit margin improved by 9.5 percentage points from the previous quarter, reach
LG Energy Solution said Tuesday it is poised to establish a joint venture for electric vehicle battery recycling in France with Derichebourg, a local environmental services company, marking South Korea’s first recycling joint venture in Europe. The new recycling plant, set to be built in the Val d’Oise region of northern France, will start construction next year and become fully operational by 2027. Its annual capacity to process used batteries is expected to be more than 20,000 metric tons. The
Korean IT solutions provider LG CNS said that on Monday, it achieved its highest-ever first-quarter sales and operating profit, driven by the accelerating adoption of cloud and artificial intelligence solutions across industries. Its first-quarter sales reached 1.21 trillion won ($840 million), an increase of 13.2 percent compared to a year earlier. Operating profit came in at 78.9 billion won, up 144.3 percent from a year ago. The IT solutions provider said its sales have continued to grow stea
LG Electronics said Thursday it has recorded its highest-ever first-quarter sales, driven by growth in its business-to-business sector, including the vehicle components and heating, ventilation, and air conditioning businesses. The tech giant reported sales of 22.74 trillion won ($15.9 billion) and an operating profit of 1.26 trillion won. This marks the first time the company’s first-quarter sales have surpassed 22 trillion won, setting a new record. LG’s first-quarter performance barely met lo
LG Innotek said Wednesday it has logged the highest-ever first-quarter revenue, defying typical seasonal downturns thanks to robust sales of high-end camera modules, a rebound in demand for substrates used in semiconductors and displays, and favorable exchange rate conditions. The electronic component manufacturer posted 4.98 trillion won ($3.5 billion) in revenue for the January-March period, marking a 15 percent on-year increase. The figure exceeded the 4.45 trillion won consensus by local ana
LG Electronics said Tuesday it will exit the electric vehicle charger business, three years after entering the market, due to prolonged stagnation in demand and intensifying price competition. The decision is part of a strategic realignment aimed at strengthening the company’s focus on its heating, ventilation and air conditioning business, a key growth driver under its eco solutions division. "Due to structural shifts in the business environment, including a protracted demand slowdown — referre
LG Electronics announced Tuesday that it has been recognized by Toyota Motor for its innovation and reliable supply of high-quality automotive electronic components, strengthening its position in one of the company’s future core businesses. The company recently received the 2024 Excellent Value Improvement Award from Toyota Motor North America. The award acknowledges LG’s contribution to enhancing the competitiveness of Toyota’s North American supply chain by improving production efficiency and
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