LG Electronics offers web-based software to TV manufacturers

South Korea’s LG Electronics Inc. is offering its webOS platform applied to smart TVs to some 20 rival TV manufacturers through a partnership with global content providers.

According to LG Electronics, TV makers, such as RCA of the US., Konka Group of China, and Australia’s Ayon, have agreed to use its web-based software.

To attract more clients for its smart TV platform, LG signed partnerships with streaming giants such as Netflix, YouTube, and Amazon while forging business ties with technology solutions providers Realtek Semiconductor Corp. and Universal Electronics Inc.

According to Park Hyoung-sei, president of LG’s home entertainment division, the company is expanding beyond hardware products into software and content businesses.

Smart TVs account for 84.8 percent of the total global TV shipments in 2020, up from 71.6 percent in 2018, based on data from market researcher Omdia. It is forecast to soar to over 90 percent by 2024.

LG Electronics said 90 percent of its 30 million TV shipments in 2020 were smart TVs.

LG has been stepping up its software capabilities in its TV business.