LG Innotek sees 5G as new business opportunities

By Park Sae-jin Posted : March 22, 2019, 13:06 Updated : March 22, 2019, 13:06

[Courtesy of LG Innotek]

SEOUL -- LG Innotek, the electric component unit of South Korea's LG group, vowed to find new business opportunities through a paradigm shift caused by the establishment of 5G mobile networks.

"I think that new services and the paradigm shift to be brought by 5G mobile telecommunication and the Fourth Industrial Revolution will become a new challenge," LG Innotek's executive director Kim Jeong-dae said at a  shareholders meeting on Friday.

Kim said that despite a harsh business environment this year, sluggish global growth and rising raw material prices, the demand for multi-camera and 3D sensing modules will increase due to the commercialization of 5G networks and new smartphones.

In order to maintain long-lasting growth, Kim said LG Innotek will upgrade and reorganize its business structure to become a material and component company. To meet the global demand for special sensors for smartphones and smart devices, LG Innotek has embarked on mass production of 3D sensing modules that detect movement and measure distances.
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