LG U+ is working on a new strategy to provide unique services in the field of home IoT.
The move of the largest player in the South Korean home IoT market is based on the forecast that the global IoT market and ecosystem are likely to be significantly expanded this year. In the B2B sector covering utility, industrial IoT and smart city, the company is planning to dominate the market in advance by means of NB-IoT standards.
To this end, LG U+ is aiming to increase the number of its customers to at least one million households within this year. At present, the company is providing approximately 0.8 million households with 36 different services such as switch control and gas valve closing.
In addition, the company is going to come up with new AI and big data services in cooperation with global players. When it comes to AI, in particular, LG U+ is working with many of the other subsidiaries of the LG Group. Big data, in the meantime, is one of the parts LG U+ is working on as its future growth drivers. It recently created a new division to be in charge of the business along with its Big Data Center, which is responsible for big data expert recruitment and manpower training.