Apple and LG to Co-Develop Seven Smart Home Devices Ahead of Oct. 13 Event

Investing.com··USKR·Read original
3▲1 ▼0Impact / 5
Summary · why it matters

Apple is co-developing seven smart home devices with LG Electronics that will carry the LG brand despite being shaped by Apple's engineers, Bloomberg reported Tuesday, October 6. The lineup includes a video doorbell, smart deadbolt lock, thermostat, temperature sensor, indoor camera, outdoor camera, and floodlight camera, and LG has already filed regulatory applications with the US FCC and UL Solutions under names including LG Video Doorbell Wired, LG Floodlight Cam, LG Outdoor Cam Plug-In, LG Indoor Cam Plug-In, LG Smart Deadbolt Lock, LG Smart Thermostat, and LG Temperature Sensor. Bloomberg's Mark Gurman described the structure as a second-party supplier arrangement in which Apple can shape design, tailor features and oversee engineering while LG handles manufacturing and customer support, filling the product gaps that have left HomeKit trailing Amazon's Ring and Google's Nest. Apple shares closed at $333.63 on Tuesday and were trading up 1.07% in pre-market activity ahead of Wednesday's NYSE open, while LG Electronics shares fell 10.54% to 208,000 KRW on the Seoul exchange Wednesday as a preliminary Q3 earnings miss overshadowed the partnership news. Most devices are expected to support Wi-Fi, Bluetooth, Thread, and the Matter interoperability standard, with the smart deadbolt also including ultra-wideband support, and Chosun noted the deal would mark LG's first sale of smart door locks outside Korea and its return to indoor security cameras after roughly a decade.

Impact on assets 6

Artificial Intelligence▲
Apple Inc.
AAPL
▲ PositiveTechnologyrelevance

Apple is co-developing seven smart home devices with LG, expanding its HomeKit ecosystem with new products.

Electrification & Mobility▲
LG Electronics Inc
066570
± MixedCapitalrelevance

LG shares fell 10.54% on a preliminary Q3 earnings miss that overshadowed the Apple smart home partnership news.

Industrials▲

Off-coverage companies 2

Bloomberg L.P.i
Private± Mixedrelevance

Nesti
Private± Mixedrelevance