LG acquires stake in local robotics firm
[THE INVESTOR] LG Electronics has acquired a 10.12 percent stake, worth around 9 billion won (US$8.50 million), in Korean robotics technology firm Robotis in a bid to foster its robot business, the tech giant said on Jan. 12.
Founded in 1999, Robotis specializes in developing robotic controllers, sensor modules as well as robot-controlling software.
It supplies actuators -- components that serve as a joint -- to Korean and global tech companies.
LG has been scaling up efforts to nurture its robotics business as a future growth engine, while expanding partnerships with other firms, including SG Rototics, a startup that produces wearable robotic devices to help people with paralysis or the elderly.
At the CES trade show, an electronics trade fair held this week in Las Vegas, LG showcased serving, porter and shopping cart robots. The company has deployed airport guide and cleaning robots -- which can identify locations and detect obstacles on their own and be paired with electronic devices -- at the Incheon International Airport in Korea.
“By integrating autonomous driving technology and artificial intelligence with robots, LG will continue to enhance competitiveness in the segment,” an official said.
By Kim Young-won (email@example.com)