Meta, LG to Enter Strategic Business Partnership

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Today, Meta CEO Mark Zuckerberg met with LG CEO William Cho and Park Hyoung-sei, the firm’s President of the Home Entertainment Company, in a widely publicised two-hour meeting to discuss future collaborations on XR devices at LG Twin Towers in Yeouido, Seoul.

The meeting marks the start of LG and Meta ramping up a strategic collaboration between the firm’s technology portfolios in a bid to drive XR device and customer experience innovations.

In a quote provided by LG, William Cho noted: 

We see opportunities for next-gen personal devices in the XR business arena. 

Moreover, during the discussion, LG’s William Cho got hands-on with the Meta Quest 3 headset, Ray-Ban Meta smart glasses, and large-language models, noting the potential of leveraging Meta’s technology for AI-ready XR devices. 

LG also believes it can build a technology ecosystem by combining its TV division services with Meta’s XR portfolio. Notably, LG will present the benefits of its smart device OS to work alongside Meta’s AI systems to create a competitive XR device.

LG’s smart OS brings a platform worth roughly $750.5 million from app revenue to Meta’s immersive product portfolio. The OS could potentially provide a valuable source of income and services for Meta’s XR hardware ecosystem to combat the already deep Apple Vision Pro offerings.

In January, LG’s CEO Cho Joo-wan announced that the company’s TV division is working on an XR device and aims to launch it next year.

Sizemik Shifts in the XR Market

The Apple Vision Pro generates significant interest and investment in the XR space. As a result, many XR companies are speeding up their efforts to provide competitive solutions, while others, such as LG, are striving to enter the market.

Despite sceptics who are hesitant to adopt the technology, the outlook for enterprise and consumer XR markets is positive. While the device is imperfect, the overall sentiment is optimistic.

These positive feelings are spreading to a broader range of firms and end-users in the market. XR’s mainstream success and exposure bring it closer to tangible use case deployment and future ubiquity.

However, the XR market is still being defined; the market will be packed with many different products, not just headsets. XR technology is expanding greatly from the confines of headsets to create varied display-based use cases, from 3D monitors to virtual film productions and smartphones.

LG’s entry into the market could be a headset. However, they may release a different kind of XR display. It is essential to understand the definition of XR devices and how they fit into the emerging technology landscape, which goes beyond headsets.

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