LG Electronics (LG) outlined its bold vision for the future of its B2B sector during a press conference held at LG Digital Park in South Korea. The company announced its goal of achieving 10 trillion won ($7.4 billion) in annual revenue for its LG Business Solutions (BS) Company by 2030.
The announcement builds on LG’s strategy presented at its 2024 Investor Forum, where the B2B operations were highlighted as a central component of the company’s portfolio. By 2030, LG expects its B2B sector to account for 45% of its total sales, driven by growth across product lines including hotel and hospital TVs, digital signage, and premium IT products such as laptops and medical monitors.
In the digital signage market its flagship display product, the LG Magnit MicroLED, has doubled its revenue annually since 2020, says the company. The company is adding AI-powered visual optimization in its next-generation MicroLED displays, expected to launch later this year. In a bid to diversify its display portfolio, LG is focusing on the medical monitor sector, aiming to become one of the top-three global providers in the next five years. With its high-value-added diagnostic and surgical monitors already in use in over 50 countries, its medical display division has recorded strong growth, particularly in North America and Europe, according to the company.
LG is also expanding its presence in the electric vehicle (EV) charging market. Following the opening of its EV charger production facility in Texas earlier this year and its strategic partnership with ChargePoint, LG aims to secure an 8% share of the US fast charger market by 2030. The company plans to introduce ultra-fast 350kW chargers for the North American market later this year, positioning itself as a global leader in EV charging infrastructure. Which also means a lot more of those LG charger displays.
