LG plans to spin-off some of its ‘out of the box’ projects into independent startups

In an effort to shake the trend of unique, innovative ideas getting buried in corporate bureaucracy, LG reportedly plans to spin-off some of its more fascinating projects into independent startups.

According to the company, these spin-off company’s don’t need to remain independent from the LG mothership permanently and will be given the option to return to the company after three years. As it stands right now, only two LG concepts have been given the startup treatment: Infit & Company, a medical imaging company, and Acanvas, a company that’s developing a consumer-facing 23-inch FHD digital picture picture frame.

In Acanvas’ case, the company already has a pre-sale Kickstarter that has raised $100,000 USD. It’s worth noting that the company’s early digital frame, coming in at $99 USD on Kickstarter and $499 at retail, won’t be very affordable.

LG isn’t the only large scale smartphone manufacturer attempting to become more lean. Samsung, for example, has often stated that it’s in the process of revamping its corporate culture and structure to more closely resemble that of a nimble startup. Chinese handset manufacturer Xiaomi has also expressed similar ambitions, spinning off its various accessory manufacturing divisions into independent companies.

[source]Android Authority[/source]