KRX:011070

LG Innotek, Kakao Mobility Sign Deal for Autonomous Driving Solutions

LG Innotek (KRX:011070) signed a memorandum of understanding with internet company Kakao (KRX:035720) subsidiary Kakao Mobility to develop autonomous driving solutions, according to a Wednesday release.Under the agreement, the planned autonomous driving solution will combine LG Innotek's high-performance sensing modules, including cameras, radar, and light detection and ranging (LiDAR), with Kakao Mobility's platform services and software, the release said.Shares of the South Korean materials and components manufacturer fell over 4% at market close, while those of Kakao declined more than 3%.

Nomura Adjusts LG Innotek's Price Target to KRW540,000 from KRW280,000, Keeps at Neutral

LG Innotek's Net Attributable Income Jumps 168% in Q1

LG Innotek (KRX:011070) posted first-quarter net income attributable to shareholders of 229.1 billion won, up 168% from 85.6 billion won a year earlier, according to a Monday filing with the Korea Exchange.The South Korean materials and components manufacturer's sales rose 11% year over year to 5.535 trillion won from 4.983 trillion won.Shares of LG Innotek fell more than 1% at market close.

LG Innotek Secures KRW100 Billion Wi-Fi 7 Module Contract from European Parts Manufacturer; Shares Rise 3%

LG Innotek (KRX:011070) secured a contract worth 100 billion won from a European parts manufacturer, and will supply its vehicle Wi-Fi 7 communication module under the deal, the South Korean materials and components manufacturer said Monday.Mass production for the modules is scheduled to begin in 2027, the release said.The module, featuring 320 MHz bandwidth and 4K-QAM technology, will be integrated into audio, video, and navigation (AVN) systems for global automakers via a German automotive parts customer, it said.Shares of LG Innotek rose 3% in recent trade.