LG Uplus launches new video portal, smart home system

LG Uplus Vice Chairman Lee Sang-chul, right, promotes the company’s new long-term evolution video portal service alongside Korean singer BOA, the company’s new representative, during a press conference at the LG Uplus headquarters in Yongsan, central Seoul, Monday. The mobile carrier said it will also launch a smart home system service in early July. / Courtesy of LG Uplus

By Yoon Sung-won

LG Uplus Vice Chairman Lee Sang-chul said Monday that video streaming and Internet of Things (IoT) services will be new engines to drive the telecom business out of stagnation.

The chief of the nation’s third-largest mobile carrier stressed that IT companies need to develop new products that can change customers’ lives.

“In the S-curve framework, one creation or cash cow can sustain for three to five years. Companies should always be urged to introduce something new,” Lee said during a press conference in Seoul.

“A video streaming service on the long-term evolution (LTE) network and the IoT services that can replace human sensors will be our next growth engines. We seek to be a global leader in the IoT sector by 2020.”

The concept of S-curve framework has been suggested by a global consulting company Accenture to explain essential elements of a company’s success.

At the conference, LG Uplus unveiled an integrated video streaming service named “LTE Video Portal” and an IoT-based smart home solution called “IoT@Home.” The new services are scheduled to be launched in early July.

To emphasize that the company will provide more user-centric services, it also changed its LTE service brand name from “LTE 8” to “LTE ME.”

The IoT@Home service solution consists of a smart home hub that can be connected to a wireless network linked to IoT devices including surveillance cameras, gas valves, light switches, power outlets, energy meters, door locks and heating and cooling control. Users can download a mobile application to gain access and control the connected IoT devices remotely.

Under the partnership with LG Electronics, the IoT@Home service is compatible with the electronics maker’s smart home service “LG HomeChat.” It allows users to connect with diverse home appliances such as washing machines, refrigerators and air conditioners to control them.

The function is limited to some LG devices as of now. The company said it will improve the function to be compatible with other makers such as Samsung Electronics by the end of this year.

With the IoT@Home service, LG Uplus will compete with SK Telecom in the smart home platform sector. The nation’s leading telecom company has aggressively pushed for the smart home business since its CEO Jang Dong-hyun pledged to have leadership in the sector in April.

Lee said telecom operators can best run the IoT business because they understand customers better than manufacturing firms.

“The IoT services should be provided by telecom companies not by manufacturers because we understand the consumption pattern of users better than other industries,” the LG Uplus Vice Chairman said.

An LG Uplus official said the company has built partnerships with 14 manufacturers including electronics makers and boilermakers and will work to further expand the partnership.

The LTE Video Portal service provides a portal-style interface that users can search from more than 130,000 video contents including live television broadcastings, movies, lectures and user-created contents from YouTube.

“Compared with other mobile carriers, we have more room in network capacity for our subscribers. This means we can provide a better video streaming service environment without data traffic congestion,” said LG Uplus Executive Vice President Choi Joo-sik.

Meanwhile, the new video streaming does not include live terrestrial broadcasts and their video-on-demand contents.

Local terrestrial broadcasters have stopped to provide their contents to mobile carriers after a disagreement over a rate hike.

“The three telecom companies have paid an estimated 1 trillion won for the terrestrial broadcasters during the last seven years for their contents,” an LG Uplus official said. “Now they are demanding a 130 percent hike in rates, which we cannot accept.”