Recently, reports from South Korea have cast doubt on the current technology partnership between Meta and LG Electronics.
Following a fruitful start, the publication Korea JoongAng Daily reports that the alliance is slowing down, putting the development of Meta and LG’s new competitive XR headset on hold.
According to the report, the duo is struggling to gain momentum due to the lack of available XR content and a slow maturation pace of related XR technology developments.
However, the relationship has not ended, and despite doubts, the future could still be fruitful for the partners. Currently, however, the momentum has shifted.
An LG Electronics spokesperson speaking to Korea JoongAng Daily said, “LG Electronics continues the XR partnership with Meta forged in February but is controlling its pace.”
Further rumours from the region state that LG Electronics has terminated the Meta partnership due to a perceived lack of value; however, LG Electronics denies such claims.
More on the LG Electronics/Meta Partnership
Earlier this year, Meta CEO Mark Zuckerberg met with LG CEO William Cho and Park Hyoung-sei, the firm’s President of the Home Entertainment Company, in a widely publicized two-hour meeting to discuss future collaborations on XR devices at LG Twin Towers in Yeouido, Seoul.
The meeting marks the start of LG and Meta ramping up a strategic collaboration between the firms’ technology portfolios to drive XR device and customer experience innovations.
In a quote provided by LG, William Cho noted, “We see opportunities for next-gen personal devices in the XR business arena.”
Moreover, during the discussion, LG’s William Cho got hands-on with the Meta Quest 3 headset, Ray-Ban Meta smart glasses, and large-language models, noting the potential of leveraging Meta’s technology for AI-ready XR devices.
LG also believes it can build a technology ecosystem by combining its TV division services with Meta’s XR portfolio. Notably, LG will present the benefits of its smart device OS, which will work alongside Meta’s AI systems to create a competitive XR device.
LG’s smart OS brings a platform worth roughly $750.5 million from app revenue to Meta’s immersive product portfolio. The OS could potentially provide a valuable source of income and services for Meta’s XR hardware ecosystem to combat the already deep Apple Vision Pro offerings.
In January, LG’s CEO Cho Joo-wan announced that the company’s TV division is working on an XR device and aims to launch it next year.
LG Electronics Launches Business Metaverse
LG Electronics is launching its first enterprise-ready Metaverse platform for HVAC installers and professionals. The “LG Air Solution Village” Metaverse offers HVAC professionals an immersive space for various uses, including virtual showrooms and functional installation simulation.
LG is creating a platform for HVAC professionals under its Air Solution Europe division. Despite the recent partnership with Meta, the Menlo Park-based firm is not working with LG on its Metaverse platform; instead, Spatial is providing its hardware-agnostic service for the LG Air Solution Village.
During virtual showcase events, LG plans to host product launches, Q&A sessions, and industry talks. Moreover, LG aims to use its Metaverse platform to allow B2B clients to review new LG Air Solution products, such as THERMA V air-to-water heat pumps and MULTI VVRF systems. The firm states that the product digital twins capture accurate data, allowing for a comprehensive understanding of its B2B clients.
