Apple Teams Up with LG to Develop Smart Doorbells and Locks, Targeting the Smart Home Market

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Summary · why it matters

Bloomberg reports that Apple is preparing a new push into the smart home market by developing devices together with LG Electronics, including a video doorbell, a smart door lock system, indoor home security cameras, outdoor cameras, cameras with built-in lighting, a smart thermostat, and a temperature sensor. These devices will be part of Apple's new Smart Home ecosystem, working alongside a new Smart Home Hub, an upgraded HomePod mini, and a new Apple TV. Apple's products are scheduled to launch on October 13, while the devices developed with LG are expected to go on sale a few months later. Although the two companies are developing them jointly, the products will be sold under the LG brand, with LG handling manufacturing and product support, while Apple sets the design direction and features and oversees engineering. Documents LG filed with the U.S. Federal Communications Commission and UL Solutions reveal the names of several products, including the 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. Many of the devices support Wi-Fi and Bluetooth connectivity as well as Thread and Matter, and the door lock system also supports Ultra-Wideband, or UWB, which lets the device detect an approaching user and unlock the door automatically. The launch of the new Smart Home system marks Apple's effort to reboot HomeKit, which debuted in 2014 but has not been able to grow its user base as much as the platforms from Amazon and Google. Apple hopes to combine the new Smart Home devices with its AI-powered Siri assistant. For LG, this partnership represents a major expansion of its smart home business, as the company re-enters the indoor camera market for the first time in nearly a decade and prepares to sell a smart lock outside South Korea for the first time. The expansion by Apple and LG will put both companies into more direct competition with Amazon's Ring and Google's Nest.

Impact on assets 5

Artificial Intelligence▲
Apple Inc.
AAPL
▲ PositiveTechnologyrelevance

Apple is developing a new Smart Home ecosystem with LG, including a video doorbell, smart lock, cameras, thermostat, and a new Smart Home Hub, HomePod mini, and Apple TV.

Electrification & Mobility▲
LG Electronics Inc
066570
▲ PositiveTechnologyrelevance

LG is jointly developing and manufacturing Apple's new smart home devices under the LG brand, re-entering the indoor camera market and expanding its smart home business.

Industrials▲

Off-coverage companies 1

Nesti
Private± Mixedrelevance