Sable Offshore Wins Key Court Battle Over California Oil Pipeline 
Kevin Warsh Faces Early Fed Test as Inflation Risks Challenge Rate-Cut Expectations 
Samsung to Invest $1.5 Billion in Vietnam Semiconductor Testing Plant by 2027 
Dow Hits Record High as Healthcare and Consumer Stocks Lead Wall Street Rally 
Australia Sues 3M for Over A$2 Billion Over PFAS Firefighting Foam Contamination 
South Korea Central Bank Holds Interest Rates Steady Amid Inflation Concerns 
US Imposes Fresh Iran Oil Sanctions Despite Progress on Ceasefire Talks 
Samsung Workers Approve Wage Deal, Avoiding Major Strike and Boosting Chip Supply Confidence 
Meta Subscription Push Could Add Billions in Recurring Revenue, Says Rosenblatt 
Trump Adviser’s Investment in Thrive Capital Draws Scrutiny Over Federal Contracts 
SoftBank to Invest €75 Billion in France AI Data Center Expansion by 2031 
Autodesk Beats Q1 Estimates, Acquires MaintainX for $3.6 Billion 
US Quantum Stocks Surge After $2 Billion Government Investment 
Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions 
Asian Stocks Rally as AI Boom and Iran Ceasefire Progress Lift Market Sentiment 
JPMorgan Sees Biotech Sector at Turning Point, Upgrades Top Pharma Stocks 
Xiaomi Shares Drop After Weak Q1 Earnings Amid Rising Smartphone Costs 
LG Electronics Inc. revealed on Tuesday, Feb. 28, that it has jumped into the cosmetics business. The South Korean electronics firm said this will be its new business category and will be officially announced on March 27 at the upcoming regular shareholders' meetings.
As per The Korea Times, LG Electronics is aiming to boost its synergy and cosmetics sales with Pra.L, the beauty device brand of the company. It is also planning to sell cosmetic products that can be used along with its array of beauty and medical devices.
"The addition of the cosmetics sales business reflects the recent market trend in which products combine beauty and medical devices with cosmetics, and is aimed at broadening customer experiences," an official of LG Electronics said in a statement.
Then again, while LG Electronics is determined to expand in this industry, there are concerns about this business expansion as it may overlap with its LG Household & Health Care subsidiary. Although LG H&H is mainly focusing on household goods and cosmetics, business experts could not help but be worried since there are similarities in their products.
"The company is expected to create synergy in cosmetics sales and collaborative sales with LG H&H and in-house brands including Pra.L," a business insider who has knowledge of the matter said in another interview regarding LG’s cosmetics business plans. "Rather than a competitive structure, there is a possibility of collaboration between the two subsidiaries."
Pulse News reported that LG Electronics is expanding to this side of the industry for business diversification. With the new venture, the company will start offering more services where customers can easily purchase skincare products and beauty devices.
Meanwhile, LG Electronics has been seeking new strategies as it expands its beauty business to include cosmetics in the post-COVID era. It has been selling devices for skincare, and this time, the company will add beauty products to its line LG is hoping this will yield good results as one of its new growth drivers.
