LG Electronics to Early Terminate Auto Parts JV 'Aluto' Business
[Asia Economy Reporter Hwang Yoon-joo] LG Electronics has decided to terminate the business of its vehicle infotainment joint venture 'Alluto' ahead of schedule.
According to industry sources on the 8th, LG Electronics decided to end the Alluto business early at the end of last year and is currently undergoing liquidation procedures.
Alluto is a joint venture between LG Electronics and software company Luxoft, specializing in infotainment systems, launched in March last year. LG Electronics holds 51% of the shares, and Luxoft holds 49%.
Alluto planned to release vehicle infotainment systems and digital cockpits applying LG Electronics' software platform 'webOS Auto,' but since it was not adopted by automakers, it is reported that the company ultimately decided to terminate the business.
Major automakers mainly use Android and Linux operating systems for vehicle infotainment, considering compatibility with other electronic devices.
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An LG Electronics official explained, "We decided to terminate the business early after reconsidering the efficiency of resource investment due to changes in the market environment."
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