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Foreign Owners Buying Up Shares In LG Electronics, As They Move To Expand Consumer Data Capture Business

Data capture, TV, and appliance Company LG Electronics, has revealed that foreign ownership the South Korean Company whose operation is struggling in Australia with a 21% slump in revenue last year and further falls this year, exceeded 31 percent for the first time in two years.

The Company that is updating their Web OS software found in their TV’s and appliances, so that they can capture more consumer data that they are selling to third parties, netting the Company billions of dollars without the need to manufacture new products has not said where their servers for their data capture operations are located.

Currently the business is looking to build more artificial intelligence into their TV’s and appliances in an effort to provide third parties with more intelligence than in the past including how people could possibly vote in upcoming elections.

The company has been successful selling data on what consumers watch via their LG TV and what they do in their homes using LG products during the past few years with little if any information given to users many who are unaware of where private data that LG is capturing is going.

Currently the Company is developing new business models based on selling data, including information from subscription services, they are currently rolling out.

LG is leveraging its extensive user base of hundreds of millions of products globally a move that is generating better profits than selling a TV.

As of yesterday, foreign holdings in LG Electronics stood at 31.18 percent, according to Korean financial information provider FnGuide.LG (Image: Sourced from LG Newsroom)

Foreign investors made net purchases of over A$200 million in May alone.

Previously, the highest foreign ownership of the company was 31.26 percent on Sept. 3, 2021. Until April 2024, LG Electronics experienced a negative net purchase trend from foreign investors due in part to the poor performance of several divisions including LG Display that is now under threat from OLED panel manufacturers in China.

The Company is also looking to supply air conditioning to the data capture Companies where vast amounts of consumer data captured by LG Electronics are stored.

“As the spread of generative AI expands, the function of data centres is rapidly shifting from simple information storage to application and generation trends, consuming a huge amount of power to cool,” Kim Dong-won, a researcher at KB Securities, said.

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