Smart factory equipment quality recognized High potential for increased B2B orders
The LG Electronics headquarters in Yeouido, Seoul. News1
Reports have emerged that LG Electronics has supplied smart factory equipment to Apple's iPhone production plant in India. This marks the first time LG Electronics has provided manufacturing equipment for the production of finished iPhones to Apple.
On the 5th, India's leading economic publication, The Economic Times, reported that "LG Electronics has supplied equipment for automated manufacturing processes to Apple's iPhone production line operating in India."
Industry insiders believe that the fact that LG Electronics' smart factory equipment has passed the stringent quality standards of iPhone production suggests a high likelihood of increased orders in the future.
There is also an assessment that LG Electronics' business-to-business (B2B) operations will gain momentum. LG Electronics is diversifying its business structure, which has been centered on home appliances, into B2B areas such as smart factory solutions, automotive electronics, and heating, ventilation, and air conditioning (HVAC). Last month, LG Electronics CEO Cho Joo-wan met with Intel executives at the Asia-Pacific Economic Cooperation (APEC) CEO Summit held in Gyeongju, North Gyeongsang Province, to focus on discussing collaboration on smart factory solutions, accelerating the expansion of new businesses.
The achievement is particularly significant as it was made in India, which has emerged as the 'factory of the world' replacing China. Global companies are strengthening the trend of relocating production bases from China to India to address the risks of high tariffs in the United States and the growth of the Indian domestic market. Apple also began producing iPhones in India in 2017 and has been manufacturing the entire lineup in India since last year's iPhone 16 series. Consequently, there are projections that the smart factory solutions market within India will grow rapidly. Additionally, with LG Electronics' Indian subsidiary recently succeeding in an initial public offering (IPO) and launching an India-exclusive home appliance lineup, it is expected that the expansion of local business will accelerate further.
Lee Dong-hoon
AI-translated with ChatGPT. Provided as is; original Korean text prevails.
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