Zigbang Becomes New Owner of Samsung Door Locks and Wall Pads... First Step into Smart Home Market

Samsung SDS Completes Business Transfer of Domestic and China Home IoT Divisions

Establishment of Smart Home Division

[Asia Economy Reporter Kim Min-young] Comprehensive proptech company Zigbang announced on the 28th that it has completed the business transfer of Samsung SDS's Home IoT division.

Zigbang signed a business transfer agreement for Samsung's Home IoT business earlier this year, and on the 27th, acquired all rights related to the Home IoT business operated by Samsung SDS's Korean and Chinese subsidiaries, including intellectual property rights, major business operations, production, and contracts.

Accordingly, Zigbang plans to officially enter the smart home market by establishing a "Smart Home Division" for the development and sales of "Samsung Door Lock," "Samsung Wallpad," and "Samsung Lobby Phone (shared entrance phone)."

Samsung's Home IoT division has maintained a leading position in the domestic smart home market, including "smart door locks and wallpads," based on its technological capabilities, with annual sales exceeding 100 billion KRW.

The "Samsung Door Lock," noted for its "push-pull" product design that combines user convenience and aesthetic elements, has held the number one market share in the domestic digital door lock market since its launch in 2004. The "Samsung Wallpad" is also a key product whose sales proportion to construction companies, such as apartment complexes, has been steadily increasing based on the cloud-based smart home IoT business launched in 2015. The "Lobby Phone" is preparing to release a new product equipped with remote video call functionality.

Zigbang plans to undertake comprehensive promotional marketing to continuously increase sales of these three highly profitable products in the smart home market.

By actively utilizing its expertise in online channel management and digital marketing capabilities, Zigbang aims to strengthen brand exposure in the B2C sector and further expand its global business with stable growth in China and entry into new countries.

Zigbang CEO Ahn Sung-woo stated, "We are pleased to take the first step into the smart home market with Zigbang's 'Samsung Door Lock,' 'Samsung Wallpad,' and 'Samsung Lobby Phone,'" adding, "Following a successful acquisition and integration process, we plan to gradually strengthen Zigbang's smart home identity."