This photo provided by LG Electronics Inc. shows a digital cockpit built with the company’s infotainment system.
SEOUL, Aug. 8 (Korea Bizwire) — Samsung Electronics Co. and LG Electronics Inc. are poised to introduce a fresh array of offerings at IAA Mobility 2023, slated to take place from Sept. 5-10 in Munich, Germany, aimed at establishing dominance in the automotive electronics market.
Samsung’s device solution (DS) division, responsible for the chip business, will partake in IAA Mobility alongside Samsung Display Co. and Samsung SDI Co. while LG will attend as a sponsor and reveal its future mobility vision during a press conference on Sept. 4, a day before the show’s commencement.
In June, Samsung unveiled its initial collaboration with Hyundai Motor Co. in the realm of in-vehicle infotainment.
More recently, it initiated mass production of an in-vehicle infotainment universal flash storage (UFS) 3.1 memory solution, which enhances power efficiency by 33 percent compared to existing products.
Meanwhile, LG intends to explore novel business prospects in forthcoming mobility domains, encompassing self-driving technology, software solutions, and content.
LG Magna E-powertrain, a collaborative endeavor between LG and Canadian automotive parts manufacturer Magna, is readying to commence operations at a new facility in Mexico in September.
It is also preparing to establish new plants to cater to the European market.
“LG Magna, which has experienced losses, is projected to regain profitability this year and is striving to augment its automotive electronics production capacity,” stated Kim Dong-won, an analyst at KB Securities.
“Considering this, the growth trajectory in its automotive electronics business is anticipated to endure in the future.”
Kevin Lee (kevinlee@koreabizwire.com)
