Korean company LG Electronics is exporting its smart home systems to 17 countries, including the UK LG Electronics, one of Korea's largest firms, is rushing to become a leader in smart home products in untapped markets outside Japan and Korea, according to The Korea Herald.
Home networking services connect different information gadgets, home appliance products and other Internet-based applications. LG predicts that the total market value of the market will amount to 360bn US Dollars (£222.54bn) in 2005.
The number of countries to which LG exports its home network systems reached 17 this year, and includes Belgium, Greece, Taiwan, India, Canada, Russia, United Arab Emirates and Israel. Last year, LG exported the products only to the United Kingdom, Mexico, the United States, Spain and Australia, said the report.
Among the first products from LG is the GR-D267DTU Internet Refrigerator, complete with an LCD touchscreen and audio speakers, which can surf the Net, access email and even play MP3s. Although the fridge is too expensive to sell widely at 19,999 US Dollars (£7,047.49), this maiden attempt by LG signals the company's interest in network appliances.
Recently, Korean authorities announced plans to build 165,000 square metre industrial cluster in Korea's South Kyongsang Province to house companies that are conducting research and development into home networking products and standards....