U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
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.
