SEOUL, Jan. 12 (Korea Bizwire) — LG Electronics Inc. said Friday that it has acquired a 10.12 percent stake in Robotis, a local robot maker, in the latest move to build its presence in the automation business.
The South Korean consumer tech giant purchased about 9 billion won (US$8.4 million) worth of Robotis stock, after the company issued new shares in a bid to raise capital.
Robotis, set up in 1999, specializes in robot solutions and educational robots. Its technological prowess has been recognized at home and abroad for the development of actuators, electric motors used in robot joints, according to LG Electronics.
“We will continue to push for investment and cooperation to strengthen our competitiveness in the robot business,” a LG Electronics official said.
LG unveiled three new concept models — serving, porter and shopping robots — at the annual Consumer Electronics Show (CES), which ends Friday in Las Vegas.
The serving robot is capable of carrying plates to serve drinks, and the porter robot can be used to not only carry luggage but also to provide check-in and check-out services at hotels. The shopping robot can also help consumers locate products in supermarkets.
LG Electronics has been making inroads in the robot business, as it views robots as a future growth engine. Last year, the tech giant deployed cleaning and information robots at Incheon International Airport, South Korea’s main gateway.
Also Friday, LG Electronics said it has received dozens of awards for its organic light-emitting diode television and other electronic goods at this year’s CES.
Engadget, a U.S. website for technology news and reviews, selected LG Electronics’ C-series OLED television as one of the winners of this year’s Best of CES awards, saying LG’s next OLED TVs are even smarter and better looking than before.
The C8 series sports the company’s fast new A9 processor, which is put to good use powering the newly added Google Assistant.
“LG’s own tech isn’t going anywhere; instead, it’s now working together with Google to deliver a complete TV experience,” Devindra Hardawar, senior editor of Engadget, said in comments posted on Engadget’s website.