LG Electronics sets ambitious B2B revenue goal to offset declining consumer demand

• LG Electronics wants to expand its B2B offerings
• The goal is to hit $7.5 billion in B2B revenue by 2030
• The tech giant is looking to expand into digital signage and medical monitors

LG Electronics has revealed plans to intensify its focus on the B2B sector as the company seeks to offset declining demand in consumer electronics.

The company’s strategy aims to boost its B2B revenue to KRW 10 trillion (approximately $7.5 billion) by 2030, with projections indicating that B2B sales could account for 45% of total revenue by that time. This shift is driven by the stability of B2B operations compared to consumer markets, as well as the potential for long-term customer relationships that foster mutual growth.

LG plans to enhance its offerings in key areas such as digital signage, hospitality solutions, and medical monitors, while also expanding into new sectors like electric vehicle chargers and smart factory solutions.

LG B2B transition

LG’s CEO, Cho Joo-wan has since revealed the company’s ambitious vision of achieving 100 trillion won in annual revenue by 2030. Since Cho took over as CEO in 2021, the company has actively pursued growth in its B2B operations to offset challenges in the consumer segment.

The areas of focus for LG’s B2B expansion include automotive electronics, heating and ventilation systems (HVAC), smart factory solutions, built-in appliances, and mobility technologies. Among its four business divisions, the Business Solutions unit plays a crucial role in driving growth through products such as commercial displays, EV chargers, and robots.

The Business Solutions division will further solidify LG’s position in the commercial display market by enhancing its