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[Alpha Biz= Reporter Kim Sangjin] LG Electronics' first unicorn business, the 'Home Appliance Subscription' service, is projected to achieve 1.8 trillion won in revenue this year, marking a 60% growth compared to the previous year.
The next-generation unicorn business, 'webOS-based advertising and content,' is anticipated to surpass 1 trillion won in revenue this year, growing fourfold compared to 2021.
LG Electronics aims to achieve 50% of its total sales and 75% of its operating profit from new businesses, such as AI-driven heating and cooling systems and B2B (business-to-business) innovations, by 2030.
On the 21st, LG Electronics CEO Jo Joo-wan held an 'Investor Forum' at LG Science Park in Magok, Seoul, where he revealed the interim results of the '2030 Future Vision' to domestic and international institutional investors and securities analysts.
The 2030 Future Vision announced last year outlines LG Electronics' goals of expanding platform-based services, accelerating B2B transitions, and fostering new businesses to achieve 'Triple 7' (7% annual growth rate, 7% operating profit margin, and a sevenfold increase in corporate value) by 2030.
The interim results of the 2030 Future Vision, excluding LG Innotek, show an 8% revenue growth rate, a 6% operating profit margin, and a fourfold increase in corporate value (EV/EBITDA multiple) compared to the previous year.
The subscription business reached annual revenue of 1.134 trillion won last year and is expected to exceed 1.8 trillion won this year, marking a significant increase of nearly 60%.
The webOS-based advertising and content business is also expected to surpass 1 trillion won in revenue this year. LG Electronics has sold 220 million smart TVs over the past decade and has sold webOS to external companies in more than 10 million units.
The automotive business has surpassed 100 trillion won in order backlog, and the smart factory business is expected to exceed 250 billion won in orders by the end of the year.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
