LG Electronics just revealed its vision of transforming from a global home appliance brand to a"smart life solutions company."
Cho identified key points the company will focus on to attain its mid to long-term growth targets. These are electrification, servitization, and digitalization. The LG executive also mentioned the company’s financial goals. He said the brand will achieve Triple 7, which encompasses an average growth rate and operating profit of 7 percent or more as well as an enterprise value to EBITDA ratio of 7.
When it comes to customer experience, LG said it will work on transitioning to a platform-based service business model, acceleration of B2B areas, and procurement of new growth engines based on competitive edge.
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