- LG has revealed a new growth strategy that could affect LG and non-LG products.
- The new business model would see LG expand into content, services, and advertisements.
- Part of that plan involves getting webOS into external TV brands and other non-TV products.
These days ads and subscription services seem to be seeping into every nook and cranny of the digital space. At least we were safe from those annoyances when using our appliances. But even that safe haven may be gone once LG starts enacting its new business strategy.
As part of an initiative to increase global annual revenue from $51 billion to almost $79 billion by 2030, LG plans to explore advertising and subscription opportunities for its TVs and home appliances. According to The Verge, LG CEO William Cho announced that the company intends to become a “smart life solution company.” The tech giant reportedly wants to accomplish this mission by diversifying its business portfolio and creating a business centered around “customer engagement.”