Apple Partners With LG on Smart Home Devices to Rival Amazon and Google

Benzinga··USKR·Read original
3▲2 ▼2Impact / 5
Summary · why it matters

Apple Inc. has reportedly partnered with LG Electronics to develop a lineup of connected home devices aimed at competing with Amazon.com and Alphabet's Google, according to Bloomberg. The products under development include a doorbell, deadbolt lock, thermostat, indoor camera, outdoor camera, and floodlight camera, all designed to work with Apple's upcoming smart home ecosystem. The devices will likely connect with Apple's new smart home hub, which could debut on Oct. 13 and reportedly features a 6-inch square display. The new products may carry LG branding even though Apple is developing them in partnership with LG. The move sets up direct competition with Amazon's Ring security lineup and Google's Nest products, which already include doorbells, cameras, thermostats and other connected-home devices.

Impact on assets 5

Artificial Intelligence± Mixed
Apple Inc.
AAPL
▲ PositiveTechnologyrelevance

Apple partners with LG to develop a smart home device lineup (doorbell, lock, thermostat, cameras) for its upcoming smart home ecosystem and hub.

Amazon.com Inc
AMZN
▼ NegativeCompetitionrelevance

Apple's new LG-made smart home devices set up direct competition with Amazon's Ring security lineup.

Alphabet Inc Class C
GOOG
▼ NegativeCompetitionrelevance

Apple's new smart home lineup directly competes with Google's Nest doorbells, cameras and thermostats.

Electrification & Mobility▲
LG Electronics Inc
066570
▲ PositiveDemandrelevance

LG is partnering with Apple to develop and likely brand the new smart home device lineup, giving it new product orders.

Off-coverage companies 1

Nesti
Private± Mixedrelevance