LG

SEOUL, Sep. 19, 2024 — LG Electronics (LG) has signed a memorandum of understanding (MOU) with Ricoh, a global leader in workplace solutions, to collaborate on digital transformation solutions for modern office environments. The two companies will jointly drive sales and marketing activities for their collaborative efforts and will look to explore further business opportunities in the future. This strategic partnership is expected to strengthen LG’s position in the global B2B market.
 
Ricoh, headquartered in Tokyo, Japan, and with locations in approximately 200 countries worldwide, supports the hybrid workforces of its customers across the globe through a broad range of solutions, from managed workplace services to document management and intelligence process automation, in addition to printers and copiers. As part of the new agreement, Ricoh will pair select offerings with LG’s premium digital signage products and various other B2B solutions. The combination of products and services from two of the industry’s most respected names will deliver an elevated user experience and exceptional customer value.
 
According to a survey conducted by Market Research Future, a leading market research company based in India, the global digital workplace solutions market is expected to grow from about USD 33.7 billion in 2023 to USD 90.5 billion by 2030, with a compound annual growth rate (CAGR) of 15 percent. LG, which has identified the B2B sector as a key driver of business growth, aims to expand its presence within the sector and to increase its B2B sales to around 45 percent of total sales (from all business divisions) by 2030. The company is continuously expanding its B2B portfolio and is highly proactive in exploring new, high-potential business areas.
 
“This global strategic partnership allows us to combine LG’s advanced displays with Ricoh’s communication services, delivering enhanced workplace experience solutions to customers,” said Takahiro Irisa, senior corporate officer and president of the Ricoh Digital Services Business Unit at Ricoh Company, Ltd.
 
“The pairing of Ricoh’s workplace solutions with LG’s advanced display products will deliver impressive value to customers and further establish LG as one of the most trusted providers of integrated solutions in the B2B market,” said Paik Ki-mun, senior vice president and head of the Information Display business unit of LG Business Solutions Company. “LG will continue to pursue strategic partnerships with innovative global companies to create customized solutions for today’s business environment.”
 
For more information, visit LG Digital Connect.