The Bell, a Korean business news website, reported that LG is preparing to withdraw from the XR business, which involves the production of VR, AR, and MR glasses, after finding that the demand for these products is not as high as expected.
The recent developments in LG’s XR business occurred in early 2024 when Mark Zuckerberg traveled to South Korea and was photographed alongside LG executives. Both companies confirmed their collaboration in the XR business, with plans to release high-end glasses to the market in 2025.
According to The Bell, LG has decided to abandon the XR business and shift its focus to other ventures such as home appliances, HVAC systems, and robotics.
LG Korea acknowledged that they have decided to “postpone” the commercial sale of XR products but will continue to invest in research and development of XR technology under the supervision of the CTO.
LG’s domestic competitor, Samsung, has a XR glasses project in collaboration with Google under the codename “Moohan” and is scheduled to launch the product by 2025.
Source: The Bell, UploadVR
TLDR: LG is stepping back from the XR business due to lower-than-expected demand and will focus on other ventures. Samsung, their national competitor, is working on XR glasses with Google for a 2025 release.
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