Thursday, 24 April 2025
26.8 C
Singapore
29.9 C
Thailand
19.5 C
Indonesia
28.8 C
Philippines

LG bolsters its smart home operations with Athom acquisition

LG Electronics acquires an 80% stake in smart home platform Athom, enhancing its AI-enabled intelligent space business and enriching customer interactions.

LG Electronics has significantly increased its involvement in the smart home industry by securing an 80% stake in Athom, a prominent smart home platform company based in Enschede, Netherlands. This strategic acquisition also encompasses plans to acquire the remaining 20% within the next three years, aiming to boost LG’s role in open smart home ecosystems and merge Athom’s capabilities with LG’s Affectionate Intelligence technology. LG is poised to lead the era of AI-driven home innovation through this integration.

Athom, renowned for its smart home hub ‘Homey’, facilitates connections between home appliances and IoT devices and offers cloud subscription services. Established in 2014, Homey has carved a niche in Europe and has broadened its market reach to include Australia, Singapore, the US, and Canada. Its premier product, Homey Pro, is compatible with over 50,000 devices via various technologies including Wi-Fi, Bluetooth, Z-Wave, Matter, and Thread, showcasing its adaptability and openness.

Fusing AI for tailored living spaces

LG plans to combine Athom’s extensive connectivity, linking thousands of appliances, sensors, and lighting devices, with the AI-enabled LG ThinQ platform. This partnership is designed to cultivate an AI-enhanced home environment that responds to individual preferences, optimising space usage and technological interaction. This initiative will extend the AI home concept to various spaces, including commercial and mobility environments, advancing the notion of ‘Intelligent Space.’

The Homey App Store, administered by Athom, supports around 1,000 applications, enabling users to connect and manage devices from leading brands such as Philips Hue and IKEA. These applications are frequently developed through official partnerships, with significant input from the Homey community, which consistently broadens the platform’s reach and connectivity.

Strategic expansion and market growth

LG’s acquisition of Athom promises to revolutionise its approach to smart home technology by utilising Athom’s open ecosystem and IoT connectivity. This strategic move is anticipated to enhance LG’s smart home solutions and provide deeper insights into customer behaviour, speeding up the provision of personalised services. Integrating third-party devices and services into LG’s ecosystem marks a critical step in LG’s evolution from a hardware-focused to a software-centric company.

“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 aim to expand our open ecosystem and external integration services, providing customers with more diverse and multidimensional space experiences.”

Athom will maintain its independence post-acquisition, keeping its branding and business operations intact. This strategy is designed to optimise Athom’s growth potential while fostering synergies in business practices, research, development, and platform utilisation.

LG’s shift towards a software-based platform business was underscored by its foray into the TV platform market with its webOS platform in 2021, and the acquisition of Alphonso, now known as LG Ad Solutions. This transformation is integral to LG’s long-term strategy of cultivating enduring customer relationships and redefining itself as a ‘Smart Life Solution Company’ that delivers unparalleled value.

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

“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,” commented William Cho, CEO of LG Electronics.

Hot this week

Nvidia rolls out major GPU update to fix crashes and stability issues

Nvidia’s 576.02 update fixes major GPU bugs, boosts stability, and adds support for the RTX 5060 Ti, starting at US$379.

OpenAI introduces powerful new AI models with advanced image reasoning

OpenAI’s new o3 and o4-mini AI models bring powerful image reasoning and full tool access to ChatGPT Plus, Pro, and Team users.

Rivian adds Cohere CEO to its board, showing confidence in AI direction

Rivian welcomes Cohere CEO Aidan Gomez to its board, marking a big move into AI and advanced tech for future vehicle innovation.

OpenAI’s Stargate project eyes global expansion after US launch

OpenAI’s US$500B Stargate project, which aims to build AI data centres across the US, may expand to the UK and Europe after it launches.

Preorders for the Nintendo Switch 2 officially begin on April 24

Preorders for the Nintendo Switch 2 open on April 24. The device's launch date is June 5, and it offers new features, games, and accessories to explore.

POCO launches entry-level C71 smartphone in Singapore with premium features

POCO launches the budget-friendly C71 smartphone in Singapore, offering premium design, enhanced cameras, and smooth performance at S$109.

NVIDIA uses AI to address climate, wildlife and disaster risks

NVIDIA’s AI tools support climate action, wildlife monitoring, and disaster risk mitigation, with uses spanning sea, land, sky and space.

Netflix raises subscription prices in Singapore again

Netflix again raises subscription prices in Singapore, with new rates for all plans and extra member slots.

GameMax unveils Blade Concept ATX case with bold design and powerful features

GameMax launches the Blade Concept ATX case, which features a striking blade design, RGB lighting, and support for high-end liquid-cooled PC builds.

Related Articles

Popular Categories