LG Innotek Accelerates Entry Into AD, XR Through Strategic Partnership

Mobility Outlook Bureau
24 Jan 2024
02:37 PM
1 Min Read

The partnership is a significant move for LG Innotek, designed to enhance its product competitiveness and fortify business capabilities in the optical solutions sector.


LG

LG Innotek, a global leader in technology and electronic components, has embarked on a venture to advance its presence in the fields of autonomous driving and extended reality (XR). The company has entered into a strategic collaboration and Share Subscription Agreement with AOE Optronics, a major optical component manufacturer based in Taiwan.

Under this agreement, LG Innotek is set to invest in AOE's shares, fostering a close cooperation aimed at bolstering core optical components. The partnership is a significant move for LG Innotek, designed to enhance its product competitiveness and fortify business capabilities in the optical solutions sector. Leveraging its extensive experience as a leading smartphone camera module provider, LG Innotek aims to extend its technological prowess into new domains like autonomous vehicles and XR.

This strategic investment not only strengthens LG Innotek's Supply Chain Management (SCM) but also ensures a stable supply of lenses—a critical component of camera modules. AOE, recognised for its expertise in lens manufacturing and its strong foothold in supplying North American electric vehicle manufacturers, is particularly distinguished in producing lenses for vehicle lens modules.

As the demand for high-resolution cameras, particularly those equipped with 'Aspherical Glass Lens,' surges in the autonomous vehicle industry, AOE's specialised offerings garner attention. Through the collaboration, LG Innotek plans to combine its optical design and process automation capabilities with AOE's independent materials, precision mould processing, and lens manufacturing technologies. This joint effort aims to develop world-class lenses optimised for camera modules, focusing on maximising quality and cost competitiveness.

The resulting products from this collaboration are expected to cater to core optical components, providing differentiated value to global automakers, vehicle parts manufacturers, and XR device producers. LG Innotek envisions leveraging this strategic partnership to actively pursue collaborations with external entities, reinforcing its business competitiveness and solidifying its position as a technology innovation corporation.

Moon Hyuk-soo, CEO, LG Innotek, said, 'We will rapidly expand the camera module portfolio into vehicles, XR devices, and other areas. By overwhelming our competitors with our technological prowess, cost competitiveness, and manufacturing capabilities, we aim to become a technology innovation corporation, ensuring our customers emerge as true winners.'

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