LG Electronics expands robot business focus
The company is pursuing commercialization of actuators for home robots based on its motor capabilities.
The electronics maker is targeting the robot sector to secure business results, specifically focusing on actuators for home robots. The company said it views this as a high-growth business area and is leveraging its existing motor expertise to drive development.
Consolidated operations are divided into five main segments including home appliance solutions, media entertainment solutions, vehicle component solutions, eco solutions, and LG Innotek. The home appliance and eco solution divisions together account for about 39.8% of total sales. Within those two segments, refrigerators, washing machines, and air conditioners represent about 74.7% of their combined revenue.
Regional sales are distributed across South Korea, the Americas, Europe, and Asia and Africa. The company noted that geopolitical risks and changes in United States tariff policies continue to create market uncertainty across different regions. To manage these risks, the home appliance solution division is utilizing flexible global production site operations to respond to tariff and raw material price volatility.
Corporate structural changes during the period included the establishment of Elevai, Inc. and Onvibe, Inc.. The company also liquidated LG Electronics (Qinhuangdao) Co., Ltd. and Hi-B Charger Co., Ltd., while removing LG Electronics New Jersey, LLC from consolidation.
Regarding liquidity, the company said it maintains sufficient cash and cash equivalents to cover unexpected risks. It manages liquidity through committed lines with financial institutions and cooperation with four overseas financial centers.