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LG restructures XR division; shifts employees amid alleged partnership issues with Meta
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Jun 12, 2024
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Jun 12, 2024

LG restructures XR division; shifts employees amid alleged partnership issues with Meta

Partnerships
Management news

  • LG is restructuring its XR division, moving staff from the unit to other areas of the company.

  • The company is reportedly delaying its XR tech indefinitely and has terminated its joint product commercialization with Meta, although the companies will continue R&D efforts.

  • Employee relocation is underway and will take place over a month. The individuals initially focused on the XR division will now contribute to research and development and other business sectors within LG.

  • Analyst QuickTake: Meta and LG formally announced their partnership in February 2024 , aiming to develop an XR headset. Rumors of a breakdown in the partnership began to swirl in May 2024 , when Korean media outlets alleged a pause in the partnership in 2027 due to a lack of synergy.

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