Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) hYUNJIN KIM Journalist = LG Electronics' automotive electronics division earned 8 trillion won worth of new orders in the first half, boosting its growth.

LG Electronics VS (Vehicle component Solutions) Division was awarded contracts on infotainment system (IVI; In-Vehicle Infotainment) from a global car maker with numerous European premium automotive brands and on 5G high-performance Telematics from a Japanese major car maker.

The company earned 8 trillion worth of contracts for automotive electronics in the first half, which was 13% of last year’s 60 trillion won contracts as of the end of last year.

The Korean Electronics company anticipated more than 65 trillion won contracts by the end of this year, driven by balanced growth in its three major businesses ▲VS Division’s automotive infotainment system ▲its subsidiary ZKW’s automotive lighting system ▲Joint Venture LG Magna e-Powertrain’s electric powertrain.

The impressive orders led to a consistent increase in sales. The division’s last year’s consolidated sales revenue grew 24% YoY.

LG Electronics VS Division’s main business, infotainment, is a compound word of information and entertainment and is considered the core technology in the future mobility industry. It offers various information on driving and entertainment functions at the same time. Telematics and Audio Video Navigation (AVN) are well-known examples.

NSP News Agency hYUNJIN KIM Journalist kimhj30310@nspna.com
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