By LG CEO William Cho (pictured above at CES 2023) has revealed how the company plans to squeeze additional revenue out of its customers. | Photo by David Becker/Getty Images
LG Electronics is looking to squeeze some additional cash from its customers by going all in on advertising and subscription offerings for its home appliances and televisions. It’s part of a plan to increase global annual revenue from the $51 billion reported last year to almost $79 billion by 2030. Part of that growth strategy is to get webOS — the operating system running LG smart TVs — onto more external TV brands and “other product groups.”
On Wednesday, LG CEO William Cho announced the Korean tech giant’s intention to transform itself into a “smart life solution company” by diversifying its current business portfolio and creating a business model that focuses on “customer engagement.” LG’s new growth strategy will introduce a…