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LG and Meta join forces to accelerate ‘extended reality’ business

LG Electronics (LG) is strengthening its strategic partnership with Meta Platforms, Inc. (Meta), the global tech company owned by Mark Zuckerberg, to accelerate its ventures in extended reality (XR).

The objective is to leverage the unique strengths of both organisations in products, content, services, and platforms to foster innovation and enhance customer experiences in the rapidly growing virtual space.

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By combining Meta’s platform with LG’s content and service capabilities from its TV business, the aim is to create a unique ecosystem in XR, which is one of LG’s new business areas.

Caption: LG CEO William Cho and Meta Founder and CEO Mark Zuckerberg met at LG Twin Towers in Yeouido, Seoul
LG CEO William Cho and Meta’s founder and CEO Mark Zuckerberg meet at LG Twin Towers in Seoul, South Korea. Source: LG

The integration of Meta’s core technological elements with LG’s expertise in product development and quality is also expected to yield significant synergies in the creation of next-generation XR devices.

LG’s CEO, William Cho, has expressed optimism about the opportunities presented by XR in the personal device market, which includes wearable devices, commenting, “We see opportunities for next-gen personal devices in the XR business arena.”

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In 2030, LG unveiled its Future Vision, outlining its long-term goal of becoming a “Smart Life Solution Company” that enhances customer experiences across various domains, including home, commercial, mobility, and virtual spaces. Its new collaboration with Meta represents a significant step forward in its XR business strategy.