LG Electronics to invest $760 mn to upgrade smart TV content

[Courtesy of LG Electronics]

South Korea’s LG Electronics Inc. plans to invest 1 trillion won ($760 million) over the next five years to boost its content competitiveness and enhance user interface (UI) and user experience (UX) as it aims to become a platform company that offers advanced TV content and operating system.

Under plans unveiled at the webOS Partner Summit 2023 held at LG Science Park in Seoul, Tuesday, LG Electronics set a target to expand the number of devices featuring webOS to 300 million by 2026. The company’s webOS, initially introduced in 2014, serves as the operating system powering LG smart TVs, which have reached a global install base of over 200 million units.

The Summit drew over 300 attendees, including content providers, developers, and industry stakeholders from 30 countries worldwide.

LG Electronics said it will invest 1 trillion won over the next five years in tailored content and services to enhance content competitiveness and user convenience significantly.

A key aspect of this investment strategy involves collaboration with global content partners to expand the offerings available through the platform integrated into LG’s smart TVs. Simultaneously, LG Electronics plans to focus on improving UI and UX innovation to enhance user-friendliness.