This week, amidst rumours stemming from CES 2024, multi-national hardware provider LG is slated to enter the XR device marketplace following a tested period of developing components for immersive industry giants, including Meta and Apple.
According to LG CEO Cho Joo-wan, the firm’s television division is working on the unnamed product to ensure a fast-paced development process to “launch an XR device as early as next year,” Joo-wan remarked.
While LG’s developments in the XR device marketplace are early, the firm has seemingly eyed the avenue since 2022 when, during a quarterly earnings conference call, an LG representative explained that the company is working on XR products, stating:
We are closely monitoring the XR market and are preparing to enter it quickly if profitability and market size meet our standards. We are preparing products in advance.
LG’s potential release window for its upcoming headset comes after what could be a large wave of new eyes directed towards the XR device marketplace, namely for productivity. With Apple slated to release its potentially market-shifting device, fresh investment could come for those who want to operate in the space.
Many XR headset vendors are taking note of Apple’s spatial computing vision, preparing updates and competitive devices to cement products in customers’ hands. LG’s later release window could allow the firm to observe the next wave of XR interest and act accordingly.
LG’s History of Developing XR Components
The news comes after the firm had a busy 2022/23 creating XR components for AR/VR/MR headsets, working with some of the field’s leading companies.
In September 2023, Meta partnered with LG in the initial manufacturing process for the then-unconfirmed Quest 3. The joint venture gave Meta the right to leverage LG’s microLED and microOLED microdisplay technologies that leverage a silicon base rather than glass; the firm also supplied these to military groups employing XR for personal training.
As part of the exclusive partnership, LG also supplied Meta with its displays, batteries, and Innotech components for the Quest 3 development cycle.
The same year, at CES 2023, LG partnered with Oorbit to develop metaverse technologies for its LG TVs, enabling high-fidelity XR content streaming. Interestingly now LG’s television division is developing its upcoming  headset.
Notably, way ahead of Apple’s debut of the Vision Pro, LG was reportedly developing MR device components to measure and calculate distances between objects with lasers. The partnership follows LG’s established history of creating components for Apple’s iPad Pro, iPhone 12 Pro, and iPhone 12 Pro Max models.
Earlier reports also suggested that LG supplied microLED display panels for the then-unnamed Apple Vision Pro. The partnership enabled Apple to leverage LG’s unique microOLED displays.
Can LG Enter the XR Device Market?
With many major hardware vendors, such as Apple and Sony, announcing their entry into the XR device market in 2023 and following CES 2024, it’s no surprise that the South Korean giant LG is following suit.
Moreover, with its consistent behind-the-scenes work alongside arguable industry leaders Meta and Apple, LG could be able to swoop in with a potentially competitive device based on its experience in the space.
However, the XR market is unpredictable. While optimism is high that Apple will bring newfound life to the XR space for enterprises and consumers. The end of 2024 could look very different from current forecasts.
Moreover, with so many new XR devices for productivity and other use cases fighting for a place in the competitive market, the tank may be full and complex to enter in the coming months.
Maria Malik is your guide to the immersive world of Virtual Reality (VR). With a passion for VR technology, she explores the latest VR headsets, applications, and experiences, providing readers with in-depth reviews, industry insights, and a glimpse into the future of virtual experiences.