During his visits to the USA and Europe, LG CEO emphasizes plans to increase the company’s presence in the B2B market.
During recent trips to the USA and Europe, LG Electronics (LG) CEO William Cho emphasized initiatives to improve the company’s footprint in the worldwide B2B market. CEO Cho stressed the need to deliver exceptional client experiences through cutting-edge, integrated solutions that seamlessly blend software and services with unique physical goods during a meeting with the leaders of local subsidiaries.
Starting off the year in Las Vegas, Nevada, USA, where the CEO attended CES 2023 and spoke with strategic partners including GM and Magna about the electric car component industry, CEO Cho traveled to Barcelona, Spain, this month to attend ISE 2023, the biggest display show in Europe. After seeing the most recent business and technological developments firsthand, Mr. Cho met with the CEO of the Odeon Group, the biggest theater operator in Europe. CEO Cho visited nearby Odeon theaters with LG Cinema LED displays and had conversations on medium- to long-term plans, potential alliances, and upcoming difficulties in the information display (ID) industry.
According to CEO William Cho, “LG’s ID business delivers an amazing customer experience based on in-depth research into what customers in each market value.” “We will keep enhancing our capacity to create integrated, tailored solutions that more fully anticipate customer needs.”
By enhancing its software and service capabilities, LG intends to expand its worldwide ID business even further. The company’s Pro:Cloud platform will be used to deliver very lucrative services that will help customers buy more of its integrated products.
After then, CEO Cho returned to the United States, stopping in Atlanta, Georgia, to go to AHR Expo 2023, one of the biggest HVAC (heating, ventilation, and air conditioning) industry events in the world. According to the CEO, LG will keep advancing its cutting-edge HVAC technologies, which include platforms for smart homes that can be controlled and monitored from a distance and AI-powered, high-efficiency solutions that conserve energy.
“We must leverage our cutting-edge home appliance technology to deliver outstanding client experiences if we want to become a top player in the global HVAC market,” CEO Cho stressed. In new and increasing markets, LG is extending its dominance in the market for system air conditioners.
The company is also looking to improve its strong position in the quickly expanding system air conditioner markets in Central Asia and Latin America by assuring cost competitiveness, bolstering its product selection, and developing its after-sales support infrastructure. The business will make significant investments in the creation of improved heating systems in Europe in order to pursue expansion.
By extending its B2B business sectors through ongoing investment, mergers, and strategic cooperation, LG is also diversifying its profit structure. The business currently provides a variety of B2B solutions, such as identity management (ID), information technology (IT), robotics, and electric vehicle charging solutions (Business Solutions Company); infotainment, electric vehicle powertrain, and vehicle lighting systems (Vehicle Component Solutions Company); system air conditioners and building management systems, built-in home appliances, and component solutions, such as compressors and motors (Home Appliance & Air Solution Company); and telecommunications solutions (Telecommunications Solutions Company).