LG Electronics Accelerates $10 Billion Push into India Edutech Market

Expanding B2B Opportunities Through Electronic Whiteboard Business

LG Electronics announced on the 23rd that it is accelerating its efforts to target the rapidly growing EduTech market in India.

India, the world's most populous country and a rapidly growing market, has been actively expanding digital education infrastructure in cooperation with public institutions and schools as part of the 'Digital India Policy' initiated in 2015. According to market research firm Omdia, the number of electronic whiteboards supplied to India has increased by an average of about 80% annually over the past five years.

LG Electronics supplied approximately 10,000 units of 'LG Electronic Whiteboards' to about 2,900 public high schools in Odisha state, India, over the past three years until last year. Odisha is one of the three major IT investment regions designated by the Indian government and is actively promoting talent development by establishing a global technology center, among other initiatives.

Pramat Nath De, principal of Luxewar Public High School in Odisha, said, "By utilizing LG electronic whiteboards, we are enhancing students' class efficiency and conducting high-level lessons with various digital content."

A class using LG electronic whiteboards at Luxewar Public High School in Odisha, India /
[Photo by LG Electronics]

The LG electronic whiteboard (model: TR3DK) features easy screen operation that allows seamless switching between a whiteboard, video, and presentation materials. It provides various educational templates such as shapes and charts to improve class efficiency. The large touchscreen supports up to 40 multi-touch points. Additionally, by using the built-in 'LG CreateBoard Share' app, up to nine screens can be viewed simultaneously.

Earlier, in June last year, Jo Joo-wan, CEO of LG Electronics, visited the Indian subsidiary and discussed various new business expansion plans, including EduTech using electronic whiteboards and IT solutions. CEO Jo emphasized discovering new business opportunities based on customer experience innovation and localizing strategies such as enhancing premium home appliances and customized services.

Marking its 27th year in India this year, LG Electronics has established a 'locally integrated business structure' with sales subsidiaries, manufacturing subsidiaries, and research & development (R&D) centers, gaining recognition for its value from the market and consumers and establishing itself as a premium national brand. Considering India's vast regions and village-based residences, LG has developed its unique strength by marketing directly to key regional buyers with electronic whiteboards loaded in vehicles, introducing usage methods and advantages.

LG Electronics is expanding its B2B (business-to-business) operations with sales and business teams in major regions such as North America, Europe, Central Asia, Asia, and Latin America. At the end of last year, it upgraded its B2B India Business Office to the B2B India Business Division, accelerating its approach to the Indian B2B market. Market research firm Statista forecasts that the Indian EduTech market will grow rapidly at an average annual rate of over 30%, from approximately $2.8 billion in 2020 to about $10.4 billion in 2025.

Jeon Hong-ju, head of LG Electronics India, said, "We will provide a new 'future education' experience with LG Electronics' differentiated education solutions in the rapidly growing Indian market," adding, "We will actively target the B2B EduTech market."