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LG and Meta are entering into strategic collaboration to accelerate extended reality (XR) initiatives. The two companies aim to combine their strengths across products, content, services and platforms to drive innovation in customer experiences in the evolving virtual space.
Meta CEO Mark Zuckerberg met with LG’s senior executives in South Korea, where he came as part of his Asian tour. It was stated that discussions were held at the meeting on business strategies and issues regarding the development of the new generation XR device. While William Cho, CEO of the South Korean company, was experiencing Meta’s Quest 3 headset and the smart glasses developed together with Ray-Ban; He expressed strong interest in Meta, focusing on its broad language models and potential for on-device AI integration.
The South Korean technology giant predicts that by combining Meta’s platform with its own content/service capabilities in the TV business, a different ecosystem can be created in the field of XR, one of the company’s new business areas. Moreover, combining Meta’s various core technological elements with LG’s cutting-edge product and quality capabilities promises significant synergies in developing the next-generation XR device.
XR devices are defined as a new generation of personal devices that can overcome the immersion and intuitiveness limitations of mobile screens. Wearable devices offer the potential to significantly expand customer interactions. In a previous statement, William Cho stated that they see opportunities for new generation personal devices in the XR field.
LG established a dedicated XR business unit last year
In recent years, the South Korean company has preferred to minimize marginal businesses based on market dynamics and strategic assessments, concentrating its resources on promising areas with high growth expectations. The collaboration with Meta is also in line with this strategy, which aims to pioneer innovations in customer experiences in the future virtual space, anticipating the full-fledged development of the XR market.
Last year, LG unveiled Future Vision 2030, which outlines its long-term goal to evolve into a Smart Living Solutions Company that can seamlessly connect and extend customer experiences across multiple domains, including home, commercial, mobility and virtual spaces. As part of the organizational change made at the end of the year, a dedicated XR business unit was established within the Home Entertainment Company to accelerate the pursuit of new initiatives in the field of virtual space.