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Samsung Electro-Mechanics and LG Innotek Poised for Strong Q3 on iPhone 17 Demand and High-Value Components

SEOUL, Oct. 8 (Korea Bizwire) — South Korea’s leading electronic component makers, Samsung Electro-Mechanics and LG Innotek, are expected to post stronger-than-expected earnings in the third quarter, buoyed by robust demand for Apple’s new iPhone 17 and a strategic shift toward higher-margin products. According to market tracker Yonhap Infomax, the consensus estimate for LG Innotek’s [...]

LG Innotek Partners with U.S.’ Aeva for LiDAR Development

SEOUL, July 29 (Korea Bizwire) — LG Innotek Co., an electronic component manufacturing unit of LG Group, said Tuesday it has formed a strategic partnership with U.S. software company Aeva Technologies Inc. to collaborate in the laser imaging, detection and ranging (LiDAR) sector. Under the agreement, LG Innotek will provide next-generation frequency modulated continuous wave [...]

LG Innotek Unveils Next-Gen Digital Car Key with Child Detection and Enhanced Security

SEOUL, July 16 (Korea Bizwire) — LG Innotek has unveiled its latest automotive innovation—a next-generation digital key solution that enhances vehicle security, driver convenience, and child safety through precision wireless communication and AI-powered features. At a technology showcase held on July 15 at its Seoul headquarters, LG Innotek demonstrated a range of functionalities enabled by [...]

LG Innotek Q1 Net Income Sinks Nearly 40 Pct

SEOUL, April 23 (Korea Bizwire) — LG Innotek Co., an electronic component manufacturing unit of LG Group, said Wednesday its first-quarter net profit tumbled nearly 40 percent due to waning demand and intensifying competition. In a regulatory filing, the company reported a net income of 85.6 billion won (US$60.1 million) for the January-March period, down [...]

Korean Electronics Component Makers See Recovery Through AI-Driven High-End Products

SEOUL, March 10 (Korea Bizwire) — Leading South Korean electronics component manufacturers are bouncing back from the global IT slowdown by focusing on high-value products driven by artificial intelligence (AI) technology. LG Innotek and Samsung Electro-Mechanics, which achieved record sales last year despite profitability challenges, are now poised for a significant turnaround. According to market consensus [...]

LG Innotek Accelerates Push into Automotive Communication Market with Advanced Digital Key Solution

SEOUL, July 23 (Korea Bizwire) – LG Innotek, a leading electronics components manufacturer, announced on June 22 its plans to accelerate its expansion into the automotive communication parts market with a cutting-edge digital key solution. Digital keys, which allow users to lock, unlock, and start vehicles using smartphones connected via wireless technology, have seen a surge [...]

LG Innotek Develops Nexlide-M Flexible Automotive Lighting

SEOUL, June 1 (Korea Bizwire) — LG Innotek Co., a South Korean major electronics parts maker, said Wednesday it has developed a flexible and stereoscopic automotive lighting solution, Nexlide-M. Constructed from a flexible resin material, this product can smoothly bend to fit onto vehicles in different configurations, including daytime running lights (DRL) and rear combination [...]

LG Innotek 2022 Net Up 10.3 pct on Demand for Auto Components

SEOUL, Jan. 25 (Korea Bizwire) — LG Innotek Co., an IT parts manufacturer, on Wednesday said its net profit for 2022 rose more than 10 percent, helped by robust sales of high-value products and growing demand from automotive components customers. In a regulatory filing, LG Innotek, Apple’s largest partner in the field of optics, reported [...]

LG Innotek to Invest 1.4 tln Won to Expand Capacity for Camera Modules

SEOUL, July 6 (Korea Bizwire) — LG Innotek Co., a South Korean major electronics parts maker, said Wednesday it will invest 1.4 trillion won (US$1.07 billion) to expand the production capacity of camera modules and other electronic parts. LG Innotek, a camera module supplier for Apple’s iPhone, signed a memorandum of understanding with the city [...]

Camera Modules Emerge as Future Cash Cow for LG and Samsung

SEOUL, June 14 (Korea Bizwire) — Following semiconductors and displays, camera modules are emerging as a future cash cow for South Korean tech firms as the demand for camera modules grows at a healthy pace on the back of the rapid growth of the self-driving cars market. LG Innotek Co., a major electronics components maker, [...]