LG Innotek is attending ‘CES 2023’, the world’s biggest IT and appliances trade show, for the first time. They are laying the groundwork to expand their global electronic equipment business. This can also be read as their confidence following from improved performance and expansion of contracts from their North American clients.
LG Innotek recently finalized their attendance of CES 2023, and they were known to be coming up with the exhibition content and strategy.
So far, LG Innotek had been attending CES in a minor way, such as by preparing a partial, unofficial booth for meeting with clients and introducing their technology. They will be preparing their first booth in a large scale this time, where they will introduce parts for electronic devices like camera modules andsemiconductor substrates. It appears that automobile parts like radar, LiDAR, and camera modules will be the center of their exhibition.
‘Mobility’ has risen as the key theme of CES 2023. LG Innotek is growing the mobility industry, which is being pushed by the group, as the future source of income. Their focus is on the diversification of the current sales structure, which leans towards cameral modules for smartphones. LG Innotek’s strategy is to secure numerous global top tier companies in the growing mobility market.In addition to operating in the black for the first time in their electronic device camera business, the company’s performance with contracts from global companies is improving massively. For CES 2023 which will be held towards the beginning of the year, LG Innotek created a policy to introduce key technology to important clients like North American EV companies, European finished automobile companies, and tier 1 automobile parts companies, as well as secure a diverse portfolio.
Semiconductor substrates, which have risen to be a ‘choice business’, will also be exhibited with great care and respect. As key clients of the high-value substrate market are all clustered in North America, this trade fair will be a good opportunity to secure new clients. LG Innotek’s semiconductor substrate business has a higher business margin than the camera module business and is growing faster. LG Innotek is ranked number 1 in the world in the fields of semiconductor parts with RF-SiP and AiPsubstrates, and display parts with tape substrate and photomask. LG Innotek entered the flipchip ball-grid array (FC-BGA) business, which has rapidly growing demand, and is focusing on expanding their client base.
CES 2023 will open offline at Las Vegas, USA from January 5thto the 8th next year. Around 2,000 companies in various categories like automotive, smart home, work tech, digital health, metaverse, and entertainment will be there to showcase their innovative technology and products.
By reporter Sora Park srpark@etnews.com