LG U+ Vice Chairman Kwon Young-soo urged his executives and staff to arm themselves with innovative and challenging spirits to give the company an upper hand in the 5G and AI sectors, where three telecom service providers are locked in fierce competition.
In his e-mail massage delivered to executives and staff on Dec.1, Vice Chairman Kwon said, “In 2018, competition in new industries, including 5G and AI, will happen in earnest, and market players are expected to play a tight match.”
He stressed the need to seize the opportunity to emerge victorious in two sectors, which will hinge on the competitiveness of the future. His wants to secure 5G and AI technologies related to the advent of the 4th Industrial Revolution as new growth breakthroughs.
On Nov. 30, LG U+ carried out a reorganization, calling for the inauguration of a 5G group and putting the AI business division under the direct control of the CEO.
Regarding the inauguration of the 5G group, he said, “(We’ll) closely study such matters as the establishment of frequency strategies and coverage investment by concentrating all our capabilities, and making preparations to provide differentiation services based on 5G.”
As to the rearrangement of the AI business division, Vice Chairman Kwon said it is significant to promote collaboration among home/media closely related to AI, IoT and corporate divisions. The AU business division will be an independent body under the direct control of the CEO, Kwon said. He added that the AU business division will be able to communicate with other divisions in a swift fashion.
As the 5G and AI divisions, which will depend on the competitiveness of the future, have now been reorganized, he said that all executives and staff need to join forces. “We’ll realize a dream of becoming No. 1 if we have the determination and passion to become a top corporate leader,” he said.
LG U+ logged 200 billion won in operating profit for the third consecutive quarter this year, thanks to a rise in the number of telecom service subscribers and the charming business performances of media businesses, including internet TV.
LG U+ Expands Home IoT Services
LG U+, riding the steady growth of its wired and wireless telecom services, is stepping on the gas to explore future growth engines such as IoT, A.I. and big data. The telecom service provider aims to attract more than 1 million home IoT service subscribers this year to solidify its industry-leading position. LG U+ plans to release diverse A.I. and big data services by forming strategic alliances with global companies.
LG U+ offers a total of 36 services, including IoT Electricity Charge Allimi (Notification), Plug and Switch, to about 800,000 households. The telecom service provider plans to enhance its competitive edge by releasing convergence products combining home IoT services and big data. LG U+ plans to open premium experience outlets in which consumers can have hands-on experiences of the services to attract more subscribes.
LG U+ is expanding IoT services in the B2B market. The telecom service provider commercialized the NarrowBand IoT (NB-IoT) services in the Seoul metropolitan area and forged a strategic alliance with Korea Electric Power Corp. (KEPCO) to conduct telemetering and pilot power IoT services. LG U+ plans to enter such businesses as gas and tap water segments, as well as offer logistics management services by building an IoT network exclusively catering to businesses and environment management services like harmful gas surveillance.
The company is also expanding its smart city business. A consortium of LG U+ and the Goyang City government has been selected by the central government to construct a pilot IoT convergence business complex.
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