Value Creation of Products and Services in Utilization of IoT
Recently, IoT is a big issue in the electronic appliance industry. It is an internet-based technology that connects various things including electronic appliances with sensors and communication functions. When IoT is applied to home electronic appliances, companies can collect and analyze customers’ product use data through their products, develop customized solutions for individual customers, and respond to various customer needs accordingly.
In 2015, Coway released IoCare, a new product that adopts IoT to water purifier and air cleaner product groups. The IoT customized care services and solutions also have been established based on analysis results.
Cooperative Activity for IoCare Platform Establishment
Coway has conducted cooperative activities in association with other institutions in order to establish the foundation for integrated Life Care service commercialization. By concluding the MOU with KT for the joint business of smart home care, Coway has initiated the IoT service platform development for smart air care service commercialization during the year.
By concluding the IoT win-win cooperative business agreement with the Ministry of Industry, Trade, and Resources, Coway has also participated in joint work of sharing technologies, resources, and information to establish the IoT industry eco-system.
Korean Innovation Frontier Award, New Technology Innovation Prize Awarded for 13 Consecutive Years
Coway has been awarded the new technology innovation prize for thirteen consecutive years including 2015 at Korean Innovation Frontier Award that is conducted by the Korean Standards Association. As businesses that achieved innovation in new technologies, products, and services were awarded in this event, the two items – Sparkling Ice Water Purifier and Air Cleaner IoCare were awarded the new technology innovation prize.
8 CES Innovation Prizes Awarded in 2016
In 2016, Coway participated in the world largest home appliance exhibition entitled CES (Consumer Electronic Show) for the first time, and its six products won CES innovation prizes in eight areas with their innovation and excellence recognized. For CES innovation prizes, CEA (Consumer Electronics Association) and IDSA evaluate technologies, designs, and innovative features of CES exhibition items. Although this was the first time that Coway participated in this exhibition, its products including water purifiers, air cleaners, and bidets were awarded in various categories, which is of great significance.
Coway’s Products That Won ‘CES 2016 Innovation Prizes’
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Korean Innovation Frontier Award, New Technology Innovation Prize Awarded for 13 Consecutive Years
