Experience a new level of smart home technology like never before.
With LG’s latest advancement, you can expect even more innovation. Let’s discuss what this is all about!
1. LG’s Current Landscape
LG – a Leading Name in Tech World
LG’s current success and status in 2024 have made it a global phenomenon in electronics, chemicals, telecommunication products, and household appliances.
It reached the global level in 2013, becoming the second-largest LCD TV manufacturer. It operates in over 80 countries now, with around 142 subsidiaries.
But it seems like LG is currently planning to achieve more.
2. An Unexpected Merger of LG and Athom
LG Announces Acquisition of Athom
On July 3rd, LG Electronics announced breaking news in the smart home market: the acquisition of Athom, a leading Dutch company in the smart home industry.
3. The LG and Athom Agreement
LG Acquires Majority Stake in Athom
The agreement between LG and Athom highlights that LG has acquired an 80% stake in Athom. As for the remaining 20%, it plans to take over within the next three years.
This puts LG in direct competition with Samsung’s SmartThings, as LG expands its ThinQ ecosystem.
4. The Purpose Behind the Agreement
The Goal of This Agreement
The merging of LG’s connectivity with Athom’s smart home hub, Homey, will introduce a new home ecosystem with a more inclusive and advanced system.
The plan is to integrate the LG ThinQ platform with Athom’s advanced connectivity and broad device compatibility, leading to a more advanced AI-driven home.
5. LG’s Executive Vice President’s Official Statement
What Has Jung Ki-Hyun Got to Say?
“The acquisition of Athom is a cornerstone for our AI home business.” said the executive vice president and head of LG’s Platform Business Center, Jung Ki-Hyun, in a statement.
He said, “By leveraging the synergy between the two companies, we will expand our open ecosystem and external integration services, aiming to provide customers with more diverse and multidimensional space experiences.“
6. The Technological Advancement & Success of Homey
Homey’s Inclusive Ecosystem
Homey revolutionizes smart homes by eliminating closed ecosystems. It supports over 50,000 devices from various brands and protocols.
It allows easy integration, unified control, and personalized automation, offering flexibility and future-proofing.
With Homey, users aren’t restricted to buying a device from a particular brand. They can add devices of their own choice.
It’s advanced and works with multiple protocols, like Bluetooth, Wi-Fi, Z-Wave, and ZigBee. Hence, it’s a flexible and open option.
7. LG ThinQ Gains Broader Smart Home Compatibility Through Athom
LG ThinQ Will be Able to Operate Wide Range of Devices from Different Brands
With this collaboration, LG’s ThinQ will easily access Athom’s compatibility with several smart devices, including those from Ikea, Philips, Hue, Sonos, and Aqara.
This has introduced LG to a much bigger home ecosystem.
8. A Mutual Benefit for LG and Athom
A Step Toward the Future
LG’s takeover can be seen as a game-changer, as LG will gain access to Athom’s renowned open platform technology and solid European user base.
Athom’s flagship product, the Homey smart home hub, offers LG a significant advantage by being compatible with a wide range of smart devices—not just LG’s own.
Not only this, Athom will also have a wider reach with the help of LG.
9. LG to Boost Presence in the European Smart Home Market
LG to expand its presence in Europe through Athom’s strong user base
Athom, a leading smart home automation company in Europe, has effectively targeted the European market. Its partnership with LG aims to expand Athom’s global reach.
This partnership would be revolutionary, benefiting both companies. It would enable LG to use Athom’s large base of smart home users and become a major player in the European smart home landscape.
The current top companies in the European smart home market are:
- Siemens AG
- Legrand SA
- ADT Security Services
- Philips
- Schneider Electric
10. A Continued Autonomy
Despite its Acquisition, Homey Will Continue to Be Operated by Athom
Homey shared an official statement on its website about its commitment to Athom and working for it.
This allows Homey not to lose its brand identity and retain its core values and existing developer community.
11. Expectations from Athom’s and LG’s Collaboration
What to Expect from This Collaboration?
Homey is known for its excellent local processing capabilities, which allow it to be faster, more reliable, and more secure without relying on cloud services.
On the other hand, LG’s ThinQ AI technology allows smart devices to learn user preferences and optimal performance.
Athom’s local processing capabilities, when combined with LG’s ThinQ AI technology, could lead to:
- Advanced automation with data processing, like turning on smart devices before the user comes home because of GPS.
- Optimizing appliances to save energy.
- No data breaches due to enhanced security.
12. A Game Changer
Enhanced personalization with Homey & LG Merger
This merger brings an exciting opportunity for users. By combining ThinQ AI with Athom’s smart data collection, the system can learn your habits, patterns, and preferences.
For instance, your AC is turned on before you’re about to get home, or perhaps, your morning coffee is brewed just when you wake up.
13. The Future of Smart Home
Technological Advancements Homey Brings to LG
Athom has a strong developer community, which could benefit LG. Even though LG is a global name, Athom’s Homey is strong in technological advancement.
This will allow LG to re-establish its place in the smart space with better features and advanced functionalities.
14. LG’s Financial Expansion
LG’s global reach
With a solid European base, Athom will add to LG’s global reach and will open great financial opportunities for LG.
According to an analyst from TechNavio, the Smart home automation market is projected to reach $260.24 billion by 2028, positioning LG to capture a larger market share with Athom’s technology and resources.
15. A Transformation Your Home Deserves
A Smarter LG Means a Smarter Home!
With this collaboration, you’ll probably be able to control everything, including thermostats, lights, and LG appliances, from a single app.
You wouldn’t need to gather different apps to adjust the temperature, set the home ambiance, or perform similar tasks. It will also learn from the customized data!
16. Smart Technologies
LG ThinQ Will Not Only Operate LG Appliances but Much More
By acquiring Athom, LG ThinQ gains access to Athom’s open platform technology.
This will allow LG ThinQ to connect with various smart devices, such as:
- Nest
- Aqara
- Ikea
- Philips Hue
- Sonos, and many more.
There are several more devices that can be controlled through Homey. Here are some more devices for your bedroom tech upgrades.
