LG Electronics take the 1st place in ‘telematics’ for three consecutive years

LG Electronics, South Korea’s No. 2 electronics company, became a company that took the No. 1 position in the global market share of ‘telematics,’ an essential component of autonomous vehicles, for three consecutive years.

Telematics is a component that uses a kind of communicat ions t echnology and faci l itates communication with the outside as it is installed inside vehicles. The part provides several services such as an automatic vehicle location system, vehicle remote diagnosis and traffi c information, with the 4G Long-Term Evolution (LTE) platform featuring Internet access functionality in vehicles are gett ing the limelight as a key component of Connected Cars in the future.

The company took competitive advantage of its vehicle components division as telematics in its first quarter (Q1) report recently released. According to SA, a market research institution, its market share in the telematics global market came to 30.1 percent and 30.3 percent in 2013 and 2014, respectively. The figures place it in the No. 1 position in the global market.

Since the launch of the vehicle components division in July 2013, the company released the market share of telematics for the first time. The company was followed by U.S.-based Harman with 15 percent and Japan-base Denso with 10 percent in 2014. The market share of LG Electronics was estimated at 26.2 percent in Q1 this year in the global telematics market.

 
 
korean-electronics.com | Blog Magazine of korean electronics, brands and Goods

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