SEOUL, Jun. 29 (Korea Bizwire) — LG Electronics Inc. said Thursday it will supply its advanced driver-assistance system (ADAS) cameras to a premium German carmaker, tapping deeper into the vehicle components business.
Through the deal, the South Korean company will supply camera modules and software to its German counterpart. LG did not reveal the name of the partner, citing business confidentiality.
LG said the camera will help users drive safely by detecting various objects surrounding cars and maintaining optimal distance with other automobiles.
Cameras used in cars will play a key role in the growth of self-driving vehicles.
The company said its latest ADAS camera has top-notch features, backed by its know-how from its smartphone and home appliances businesses.
LG said it will continue to release state-of-the-art automobile parts going forward by joining forces with more global carmakers.
The company has been making efforts to improve profitability of its vehicle component business, although the sector’s overall performance has not met expectations so far. The division posted an operating loss of 14.5 billion won (US$12.7 million) in the January-March period.