LG Electronics is planning to bring Internet of Things (IoT) technology to home appliances products early in 2018. The Indian wing of the South Korean technology company is also in talks with several mobile network service operators to join hands and bring out the IoT based products in the country.
India is a major market for the brand and LG Electronics India had recorded a sale of Rs. 2200 crores in the country last year. It was also among the leaders for several appliances. LG Electronics has two manufacturing units in India. One in Greater Noida and the other in Pune.
IoT is an unexplored entity in India and Managing Director for LG Electronics India Ki Wan Kim has some plans regarding the technology. "This would be in home appliances first as washing machine, air conditioners and refrigerators, which would be IoT enabled and controlled," he stated.
He also mentioned that LG Electronics parent wing has already been selling IoT products in Korea while in India the wait is due to the need of partnerships with telecom service providers for data connectivity. "Here the telephone operators are studying it. If they are ready, we would combine it... We are in negotiations with the stakeholders."
Ki Wan Kim also reflected on the slow growth of mobile phone business in the country,"There is slow progress but we are working hard to revive our mobile phone business and the primary chunk is coming up with the compelling products."
LG Electronics, with its IoT plans, may change the face of technology in the country opening a gateway for more brands to invest in the venture.