Amidst of falling LCD prices and a slowdown in smartphone market, LG plans to offer premium core products to maintain profitability, invest in R&D and generate revenues from new technologies such as AI, connected cars and energy storage systems. LG is utilizing its existing expertise of its affiliates – LG Chem (Battery), LG Innotek (LED modules), LG Display (touch screens) – to develop cutting edge automotive components. In 2017, LG acquired ZKW, an automotive LED lighting company. LG is also utilizing its expertise in communication technology in automotive industry. In 2017, the company partnered with HERE Technologies for self driving cars and Qualcomm for 5G technology. In IFA 2018, LG CEO hinted that the company wanted to partner with NVIDIA to develop applications for self driving vehicles. LG formed its Vehicle Components division in 2013 and since then, has posted significant YoY increase in revenues. However, the division still remains in losses due to heavy investment in R&D. In long term, LG looks to bring the division in the black and increase its share in total revenues. – Aman Madhok