Friday, December 3, 2021

Home Technology Smart factory: LG Uplus aims to increase sales

Smart factory: LG Uplus aims to increase sales

In an online briefing, the carrier said its smart factory solutions are currently used in 150 locations across the country by around 100 corporate clients

A major South Korean telecom operator, LG Uplus Corp., on Thursday said, as part of its broader push to boost its enterprise-focused services, it aims to increase sales from its smart factory solutions business by sevenfold within five years.

To automate workload and improve safety, the telecom operator has recently been developing industrial solutions that use its 4G and 5G networks.

In an online briefing, the carrier said its smart factory solutions are currently used in 150 locations across the country by around 100 corporate clients.

With hopes to secure more than half of the market, it expects the smart factory market between local telecom operators to be worth up to 200 billion won ($171.3 million) annually in five years.

The move comes as LG Uplus’ enterprise infrastructure solution sector, which includes its smart factory business, logged sales of 134.2 billion won in the second quarter, up 34.3 per cent on-year.

The carrier has recently shifted focus toward business beyond its traditional wireless network service, with CEO Hwang Hyeon-sik saying in July that he aims to raise the company’s share of sales from non-telecom services to 30 per cent of the total by 2025 from the current 20 per cent.

LG Uplus said it has revamped its smart factory business into 12 services, which include a motor diagnosis solution that uses a big data-based algorithm to predict signs of motor malfunction in factories by analysing electrical data.

The telecom operator also offers a smart video safety system that analyses video and sound in real time to detect and notify safety issues, including sparks, smoke or steam, and abnormal temperatures.

The company said the smart factory solutions on its wireless network are an improvement over existing services that use Wi-Fi as they offer more stable connection while moving.

Also readCIO News interviews Shri Wangki Lowang, Minister (IT) of Arunachal Pradesh

Do FollowCIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter

About us:

CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics.

CIO News also covers the professional journeys of CIOs across all industries through print articles.

Khushbu Soni
Chief Editor - CIO News | Founder & CEO - Mercadeo


Please enter your comment!
Please enter your name here

- Advertisment -1x1 banner1x1 banner1x1 banner1x1 banner

Most Popular

Distributed Artificial Intelligence Research Institute founded by Gebru after being fired from Google

AI needs to be brought back down to earth, said Gebru, Founder of Distributed Artificial Intelligence Research Institute Being fired from Google after sending an...

Data protection law to be beneficial for research, Kris Gopalakrishnan

To make the data available in a reliable format, in a format that is useful for research, is where the data protection laws in fact, I...

Digital financial super app introduced by Batelco in Bahrain

The Beyon Money digital financial super app includes Visa Prepaid Cards, Stored Value Wallet, and Open Banking Connectivity, categorization of expenses and financial Insights...

Machine learning: AWS announces new features

AWS has been helping customers with their machine learning journey and achieving their business outcomes To make technologies like machine learning more accessible and cost-effective,...

Recent Comments