Tag LG Electronics

SEOUL, South Korea, July 9, 2024 — LG Electronics (LG) recently acquired an 80 percent stake in Athom, an industry-leading smart home platform company based in Enschede, Netherlands. The agreement includes plans to acquire the remaining 20 percent within the next three years. This strategic move aims to enhance LG’s connectivity within open smart home ecosystems. By integrating Athom’s capabilities with LG’s Affectionate Intelligence technology, LG aspires to lead the AI-driven home innovation era.

LG plans to integrate Athom’s extensive connectivity – which links thousands of appliances, sensors and lighting devices – with the generative AI-enabled LG ThinQ platform. This integration aims to create an AI home that delivers optimal space solutions by gaining a deeper understanding of the customer. In LG’s AI home, customers will engage with generative AI, which will manage appliances and IoT devices to create a personalized environment tailored to their preferences.

LG envisions expanding the differentiated customer experience of AI homes to various spaces where customers spend their time, such as commercial spaces and mobility environments, ultimately realizing and advancing the concept of ‘Intelligent Space.’

Athom is a technology company that sells the smart home hub ‘Homey,’ which connects with home appliances and IoT devices, and also offers cloud subscription services. Founded in 2014, ‘Homey’ has expanded primarily in Europe over the past decade, gaining a loyal customer base of hundreds of thousands of users. As of 2023, Homey devices are available in Australia, Singapore, the US and Canada, in addition to Europe.

Athom has developed its own hub and OS to create an independent smart home ecosystem. Its flagship product, Homey Pro, can connect to more than 50,000 devices and supports various connection methods, including Wi-Fi, Bluetooth, Z-Wave, Matter and Thread, making it highly versatile and open.

The Homey App Store, managed by Athom, offers around 1,000 applications for connecting and controlling home devices from brands such as Philips Hue and IKEA. Many of these applications are based on official partnerships, alongside a large number of apps developed by the Homey community. This community of developers actively contributes to Athom’s open platform, continuously expanding the range of brands and devices that can be connected to the hub. Users can easily create a smart home environment by downloading apps from the store and linking their devices.

LG is poised to significantly enhance the scalability required for implementing AI homes, aiming to achieve the highest industry standards. This will be accomplished by integrating its LG ThinQ platform’s smart home technology with Athom’s open ecosystem and IoT device connectivity. The acquisition of Athom is particularly noteworthy, as it will enable LG to incorporate third-party devices and services into its ecosystem. This integration will provide LG with deeper insights into customer usage patterns and expedite the delivery of personalized services.

“The acquisition of Athom is a cornerstone for our AI home business,” said Jung Ki-hyun, executive vice president and head of LG’s Platform Business Center. “By leveraging the synergy between the two companies, we will expand our open ecosystem and external integration services, aiming to provide customers with more diverse and multidimensional space experiences.”

Even after the acquisition, Athom will continue to operate independently, maintaining its business operations and branding. This strategy is designed to maximize Athom’s growth potential and unique strengths while fostering synergies in business, research and development capabilities, and platform utilization.

LG’s introduction of the AI home, which integrates Athom’s open smart home platform with its own AI technology, underscores the company’s commitment to transitioning from a hardware-focused to a software-based platform business. In 2021, LG expanded its TV business from hardware to software by entering the TV platform market with its webOS platform. To support this shift, LG acquired Alphonso, a US-based global technology company specializing in television media, machine learning and big-data analytics. Alphonso now operates as LG Ad Solutions, a core component of the webOS content and service business.

LG aims to establish continuous relationships with customers through numerous devices connected to the AI home, ultimately transforming into a ‘Smart Life Solution Company’ that provides differentiated value.

According to market research firm TechNavio, the global smart home market is projected to grow from USD 81.2 billion in 2023 to USD 260.24 billion by 2028, with an average annual growth rate of 26.23 percent.

“LG is evolving into an intelligent space solutions company that connects and expands experiences in various living spaces. We will continue to make strategic investments to shift our business paradigm, as evidenced by our successive entries into platform-based appliance services and solutions such as the webOS advertising platform and AI home,” said William Cho, CEO of LG Electronics.

Bengaluru, March 21st, 2024: LG Electronics, India’s one of the leading consumer durables company, unveiled its new consumer campaign on 2024 range of Air Conditioners, “You Decide Your Bill,” focused on addressing the top purchase barrier i.e. running costs. Consumers often hesitate to purchase air conditioners due to concerns about high electricity bills. Based on this insight LG has Introduced India’s First AC with Energy Manager.

Energy Manager Feature in Air Conditioner: The feature is integrated into the LG ThinQ app, enabling user:

•  To set electricity consumption for the AC for a specified period
• To optimize cooling capacity of the AC based on the target set for one time, during the AC’s running period
•  to manage the electricity consumption

This campaign aims to create awareness on how LG’s 2024 air conditioner range tackles this issue head-on with the innovative Energy Manager feature. This feature empowers user to control the electricity bill thus, defining the campaign thought – You Decide Your Bill.

The concept of this campaign is simple yet powerful. It leverages relatable scenarios, showcasing how rising electricity bills can disrupt families’ daily lives and cherished moments. By empowering consumers to manage their energy consumption, LG aims to restore those moments and ensure that families can enjoy the comfort of their homes without financial stress.

With an investment of approximately $3 million in consumer awareness campaign, LG is committed to bringing this transformative technology to consumers worldwide, reaffirming its position as an industry leader in innovation and consumer-centric solutions.

Sanjay Chitkara – Senior Vice President -Residential Air Conditioners, LG Electronics India said, “With LG’s Energy Manager, we’re putting the power to control energy consumption directly in the hands of consumers. This consumer campaign reflects our commitment to offering sustainable and user-centric technology solutions. With a relentless pursuit of innovation and a commitment to delivering products that enhance consumers’ lives, LG continues to push the boundaries of technology to create a more sustainable and connected world.”

National, 20th February 2024 – LG Electronics inaugurated its fourth Business Innovation Center in Chennai today. This new facility is dedicated to showcasing LG’s top-line Enterprise and Consumer products and solutions and B2B2C products and solutions in an experiential setup, providing visitors with an opportunity to witness closely the latest innovations and explore the limitless possibilities with cutting edge offering.

The LG Business Innovation Center in Chennai is a testament to LG’s dedication to providing cutting-edge solutions across various sectors. It features a comprehensive range of products, including Information Displays, Commercial Air Conditioners, Information Technology, and state-of-the-art Consumer Durable products. The center serves as a platform for businesses & users to test and experiment with these solutions, fostering creativity and collaboration.

Among the key highlights of the Information Display category are the 136 All-in-One LED Screen, LG MAGNIT, LG Transparent OLED Signage and LG CreateBoard. In addition to this, the Business Center also features the System Air Conditioning products & solutions.

Attendees at the Business Center can explore LG’s industry-leading Multi V 5 and Multi V S series, renowned for their exceptional COP and compatibility with a wide range of indoor units. From customized air conditioning solutions to meet specific industry requirements to the latest flagship product, Multi i HOME, designed for premium residences and villas, LG demonstrates its dedication to providing innovative solutions for diverse customer needs.

Architectural favourites, such as the Round Cassettes and 1-way cassettes, both recipients of the prestigious “Red Dot Design” award, are also on display, showcasing LG’s commitment to aesthetics and design excellence. Furthermore, visitors will have the opportunity to discover the innovative Hydro Kit, a popular solution in the hotel and hospital industries, offering simultaneous hot water generation (as a by-product) alongside air conditioning.

Commenting on the same, Mr. Hong Ju Jeon- MD, LG India, said, “We’re thrilled to expand our innovation journey with the launch of our fourth Business Innovation Center in Chennai. It’s not just a new facility; it’s a testament to our unwavering commitment to bringing the latest technology right to your doorstep. Our team in Chennai is ready to welcome you with open arms, offering hands-on experiences with our top-line products like the LG MAGNIT, Transparent OLED Signage, Multi V 5 and Multi V S series. We strongly believe in the value of teamwork and creativity, and we’re eager to collaborate with partners to explore limitless opportunities together.”

LG MAGNIT, the revolutionary Micro LED Display, redefines visual experiences with its cutting-edge technology and exceptional performance. LG MAGNIT captivates audiences with its deep blacks and vibrant colours. Its efficient power consumption and real-time Connected Care service ensure reliability and longevity.

LG Transparent OLED Signage represents a new era of visual communication, offering high transparency and vivid colours that seamlessly integrate with the surroundings. With its slim structure and expandable design, it provides endless possibilities for creative expression in various environments.

The LG MULTI V 5 is a revolutionary HVAC solution for high-rise buildings, boasting advanced technologies that ensure maximum energy efficiency and minimized operational costs. With its Dual Sensing Control, it intelligently monitors humidity and temperature, optimizing comfort while conserving energy. Additionally, its innovative features such as Smart Load Control and Enhanced Heating ensure reliable performance even in challenging conditions, making it the ultimate choice for energy-conscious buildings.

The MULTI V S by LG offers a compact and eco-conscious VRF solution ideal for residences and small offices.. Equipped with the R1 Compressor and controlled via the ThinQ™ app, the MULTI V S delivers high performance with minimal environmental impact, offering users maximum comfort and convenience.

The opening of the LG Business Innovation Center in Chennai underscores LG’s commitment to driving innovation and empowering businesses across India. Through this center, LG aims to collaborate with partners and customers to co-create solutions that address their specific needs and challenges.