LG U+ Vice Chairman Kwon Young-soo 

A housewife, whose name is Lee Chae-yeon, has installed the “IoT DoorCam,” and the “IoT DoorLock” at the entrance of her house recently. She can confirm the identity of any visitor via her smartphone outside or make a video call with the visitor. 

The Iot DoorLock can open or close the door, allowing her family members or visitors to enter her house without a key. 

The IoT DoorCam, which made its debut in early May, is a newly updated version of the conventional “Home CCTV MomCa run by LG U+. Subscribers do not need to go to the door to open it when they are required to make a call while staying home. The service also offers a function in which anyone standing outside the door can be informed via smartphone without touching a doorbell, a feature favored by women for security benefits. The service is beneficial to hearing-impaired persons, as well as the severely handicapped. Visitors can be seen, and videos can be recorded into the cloud U+ Box for evidences. 

LG U+ is the most active telecom service provider who strives to have a head start in the exploration of the security IoT market. The company targets possible subscribers who live in separate houses, multi-household flat units and one-room homes considered vulnerable for security reasons. LG U+ has set up the IoT Caps service platform with the security company ADT CAPS and the door lock company Gateman. 

LG U+ now offers a total of 18 kinds of IoT services, including the IoT Plug, IoT Switch and IoT Thermostat that can supply or shut down electricity via smartphone. They are primarily designed to cut down on stand-by power for lamps, TVs, purifiers and microwave ovens, thus improving energy efficiency. The number of home IoT subscribers with LG U+ is poised to surpass the 300,000 member mark soon. The figure stood at about 280,000 as of the end of April. LG U+ marks the first anniversary of launching the IoT services in July. 

LG U+, which has designated the Internet of Things (IoT) as a new growth engine, is stepping on the gas to explore new services in the IoT sector, penetrating people’s daily lives. With determination and concentration, LG U+ has a strategy to walk the walk in such core business segments as video and electronic settlements, making them sustainable profit models.

The Korean financial information company FnGuide said on Feb. 18 that LG U+ posted 632.3 billion won in operating profit in 2015, up 9.7 percent over the previous year, as well as 351.2 billion won in net profit, a 54.5 percent jump. The telecom service provider’s operating profit is projected to grow to 701 billion won this year.

Earlier, LG U+ released the LTE Magic Mirror that can analyze types of human skin via IoT technologies in cooperation with the full-scale interior company Hanssem. The LTE Magic Mirror can recommend skin management tactics and cosmetics tailored to meet a customer’s particular needs according to the measured skin type.

LG U+ plans to nurture IoT segments such as smart factories and smart buildings as growth engines that can create values for customers by differentiating itself from other rivals in the industry and public fields.

The company strives to develop IoT services with diverse service developers and manufacturing companies while building an IoT ecosystem with SMEs and venture companies. LG U+ has already invested $2 million and acquired a stake in Jibo, a U.S. intelligent robot venture company, which is developing the world’s first social robot for home, “Jibo.” If the development of the robot with intelligence and emotions is completed, it will be commercialized in the United States. The company is working on the launch of such new businesses as IoT total solutions outfitted with electric vehicles and electric ships in collaboration with U.S. EV developer Leo Motors, Inc.

“The LoT market is now expanding into diverse services based on big data, and innovative changes will like take place in such areas as self-driving, robots, other systems and sensor-based IoT platform solutions in the years to come,” LG U+ officials said.

Models promote the “IoT DoorCam LG U+ put on the market in early May. (Photos:LG U+)