Robotic Vacuum Cleaners Market to Thrive at 25.3% CAGR as Traditional Cleaners Lose …

Key Companies Covered in the Robotic Vacuum Cleaners Market Research … Haier Group Corporation, LG Electronics, Sharp, iRobot Corporation, …

Key Companies Covered in the Robotic Vacuum Cleaners Market Research Report are Neato Robotics, BLACK & DECKER, Inc., Philips, Samsung, Dyson, Cecotec Innovaciones Sl, Haier Group Corporation, LG Electronics, Sharp, iRobot Corporation, Robert Bosch GmbH, Electrolux, Panasonic Corporation, and other key market players.

Pune, Sept. 13, 2019 (GLOBE NEWSWIRE) — Home automation aids in reducing human effort in the house significantly. More importantly, automation is cost and time-effective and one of the latest developments in this field is that robotic vacuum cleaners. These vacuum cleaners can be connected to Wi-Fi and are also have voice-recognition. As a result, they can be controlled remotely from any part of the house and require minimal human intervention. Thus, the global robotic vacuum cleaners market size is set for expansion as robotic vacuum cleaners become increasingly preferred to traditional cleaners. According to a published report by Fortune Business Insights, titled, Robotic Vacuum Cleaners Market: Global Market Analysis, Insights, and Forecast, 2018-2026,” Incorporated in the report is a comprehensive evaluation of factors that will influence the market, possible trends that will emerge, different companies operating in the market, and the regions presenting the best growth opportunities during the forecast period. Additionally, the market, from its current value of US$ 6.5 Bn, is projected to touch US$ 39.1 Bn as the forecast period comes to a close in 2026. If forecast holds true, the market will exhibit a CAGR of 25.3% during the forecast period.



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The global robotic vacuum cleaners market growth is premised on the rising demand for Artificial Intelligence (AI) and Internet of Things (IoT) enabled home appliances. According to a research by Cisco, by 2021, automated home appliances will represent nearly 46% of machine-to-machine connections.

Robotic vacuum cleaners are home appliances that are AI-powered and fully automated. They require little to no human intervention and can be controlled remotely through voice recognition software. They also have an in-built navigation system, various types of sensors, and scheduling programs. Voice interaction and recognition are some of the most used features in robotic vacuum cleaners. For example, iRobot’s Roomba i7+ is enabled with Amazon’s Alexa virtual assistant. These robots can manage household work by mopping the floors, enhancing security features of the house, and even serve as intercoms.

Installation of Air Filters in Robotic Vacuum Cleaners to Boost the Market

Robotic vacuum cleaners are embedded with air filters that cleans the air in the house. The global robotic vacuum cleaners market is poised to grow on the basis of this factor, since increasing pollution levels have contaminated the air with particulate matter. This dirt-filled air is creating allergies and lung disorders in people, which has spiked the demand for air filters globally. Robotic vacuums have high-efficiency filters, such as the High Efficiency Particulate Arrestant (HEPA), fitted into their bodies which remove harmful particles from the air permanently. Such advanced features will boost the adoption rate of this technology and grease the wheels of the global robotic vacuum cleaners market revenue.



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High Cost of the Machines May Limit Market Growth

Robotic vacuum cleaners are an expensive, which can make prospective consumers think twice before investing in them. Another notable disadvantage is that these vacuums run on batteries and are, therefore, highly dependent on them. These factors can seriously hinder the growth of the global robotic vacuum cleaners market during the forecast period.

Japan to Steer the Market in Asia-Pacific; US to Propel the Market in North America

Rapid advancement in automation technologies in Japan and China are expected to push the global robotic vacuum cleaners market in Asia-Pacific. North America is anticipated to offer lucrative opportunities to market players owing to larger houses and widespread use of carpets. Increasing popularity of cordless vacuum cleaners in Western European countries will bolster the global robotic vacuum cleaners market in the region in the foreseeable future.

Increasing Investment in R&D to Intensify Market Competition

Opportunities to innovate and launch new products are growing in the global robotic vacuum cleaners market. Many companies are entering the scene and developing novel products. For example, in December 2018, Neato Robotics launched its on-demand zone cleaning robot vacuum, Botvac D7 Connected. The robot uses LIDAR technology to scan and map the efficient course of cleaning the designated room. It will also enable buyers to identify trouble zones and target them specifically.

Fortune Business Insights profiles some of the key players in the global robotic vacuum cleaners market:

  • Neato Robotics
  • BLACK & DECKER, Inc.
  • Philips
  • Samsung
  • Dyson
  • Cecotec Innovaciones Sl
  • Haier Group Corporation
  • LG Electronics
  • Sharp
  • iRobot Corporation
  • Robert Bosch GmbH
  • Electrolux
  • Panasonic Corporation



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Table of Content:

  • Introduction
    • Definition, By Segment
    • Research Approach
    • Sources
  • Executive Summary
  • Market Dynamics
    • Drivers, Restraints and Opportunities
    • Emerging Trends
  • Key Insights
    • Macro and Micro Economic Indicators
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Forces Analysis
    • Analysis of Robotic Vacuum Cleaners, By Navigation Type
      • Random Navigation
      • Gyroscope Navigation
      • Vision Navigation
      • LDS Navigation
      • LDS+Vision Navigation
  • Global Robotic Vacuum Cleaners Market Analysis, Insights and Forecast, 2015-2026
    • Key Findings / Summary
    • Market Size Estimates and Forecasts
      • By Product (Value and Volume)
        • Floor Vacuum Cleaner
        • Window Vacuum Cleaner
        • Pool Vacuum Cleaner
      • By Product Price (Value)
        • Below US$ 150
        • US$ 150 – 300
        • US$ 300 – 500
        • Above US$ 500
      • By Operation Mode (Value)
        • Self-drive
        • Remote Control
      • By Distribution Channel (Value)
        • Online Sales
        • Offline Sales
      • By Application (Value)
        • Household
        • Commercial/Industrial
          • Hospital
          • Offices
          • Airports
          • Others
      • By Geography (Value)
        • North America
        • Europe
        • Asia Pacific
        • Middle East and Africa
        • Latin America

Continued..



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Biogen (BIIB) Shareholder Cs Mckee LP Has Upped Stake; Hhr Asset Management Maintains …

It also reduced its holding in 2U Inc (NASDAQ:TWOU) by 298,362 shares in the quarter, leaving it with 580,747 shares, and cut its stake in Pivotal …

Biogen Inc. (NASDAQ:BIIB) Logo

Hhr Asset Management Llc increased its stake in Ulta Beauty Inc (ULTA) by 65.7% based on its latest 2019Q2 regulatory filing with the SEC. Hhr Asset Management Llc bought 26,970 shares as the company’s stock rose 4.27% . The hedge fund held 68,020 shares of the 2007 company at the end of 2019Q2, valued at $23.60 million, up from 41,050 at the end of the previous reported quarter. Hhr Asset Management Llc who had been investing in Ulta Beauty Inc for a number of months, seems to be bullish on the $13.08 billion market cap company. The stock decreased 1.18% or $2.69 during the last trading session, reaching $225.46. About 812,670 shares traded. Ulta Beauty, Inc. (NASDAQ:ULTA) has risen 43.41% since September 12, 2018 and is uptrending. It has outperformed by 43.41% the S&P500. Some Historical ULTA News: 15/03/2018 – Ulta Beauty 4Q Net $208.2M; 15/03/2018 – ULTA BEAUTY: ISSUES ONE-TIME BONUSES FOR HOURLY ASSOCIATES; 21/03/2018 – The Klein Law Firm Notifies Investors of a Class Action Filed on Behalf of Ulta Beauty, Inc. Shareholders and a Lead Plaintiff; 20/03/2018 – The Klein Law Firm Announces a Class Action Filed on Behalf of Ulta Beauty, Inc. Shareholders and a Lead Plaintiff Deadline of; 21/03/2018 – The Klein Law Firm Notifies Investors of a Class Action Filed on Behalf of Ulta Beauty, Inc. Shareholders and a Lead Plaintiff Deadline of May 1, 2018; 10/03/2018 – Kessler Topaz Meltzer & Check, LLP Announces Shareholder Class Action Filed Against Ulta Beauty, Inc. – Ulta; 15/03/2018 – ULTA BEAUTY INC – SEES CAPITAL EXPENDITURES OF $375 MLN IN FISCAL 2018; 06/03/2018 – Glancy Prongay & Murray LLP Announces Investigation on Behalf of Ulta Beauty, Inc. Investors (ULTA); 05/03/2018 – Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Ulta Beauty, Inc. (ULTA) and Encourages Investors to Contact the Firm; 15/03/2018 – ULTA BEAUTY INC – QTRLY COMPARABLE SALES INCREASED 8.8%

Cs Mckee Lp increased its stake in Biogen (BIIB) by 59.39% based on its latest 2019Q2 regulatory filing with the SEC. Cs Mckee Lp bought 30,530 shares as the company’s stock rose 3.63% . The institutional investor held 81,940 shares of the biological products (no diagnostic substances) company at the end of 2019Q2, valued at $19.16M, up from 51,410 at the end of the previous reported quarter. Cs Mckee Lp who had been investing in Biogen for a number of months, seems to be bullish on the $42.69B market cap company. The stock decreased 3.14% or $7.4 during the last trading session, reaching $228.56. About 1.11 million shares traded. Biogen Inc. (NASDAQ:BIIB) has declined 28.25% since September 12, 2018 and is downtrending. It has underperformed by 28.25% the S&P500. Some Historical BIIB News: 05/04/2018 – Biogen and Samsung Bioepis Agree to Settlement With AbbVie Allowing Commercialization of IMRALDI(TM) (Adalimumab Biosimilar) in Europe; 17/04/2018 – Biogen Presenting at Conference Apr 25; 30/04/2018 – M&G – Episode Growth Exits Biogen; 02/05/2018 – Bristol-Myers Squibb and Biogen Are the Pharmas Most Trusted by Doctors, Study Finds; 25/04/2018 – BIOGEN INC BIIB.O : BAIRD RAISES TO OUTPERFORM; 23/04/2018 – New SPINRAZA® (nusinersen) Data Unveiled at AAN Annual Meeting Show Continued Improvement in Motor Function for Broad Age Rang; 20/04/2018 – BIOGEN INC – UNDER TERMS OF COLLABORATION CO MAY PAY MILESTONE PAYMENTS, LICENSE FEES AND ROYALTIES ON NET SALES; 24/04/2018 – BIOGEN INC – QTRLY TECFIDERA REVENUE OF $987 MLN VS $958 MLN REPORTED LAST YEAR; 24/04/2018 – BIOGEN 1Q ADJ EPS $6.05, EST. $5.92; 05/04/2018 – BIOGEN INC – PRECISE TERMS OF AGREEMENT WITH ABBVIE ARE CONFIDENTIAL

More notable recent Ulta Beauty, Inc. (NASDAQ:ULTA) news were published by: Nasdaq.com which released: “HIBB vs. ULTA: Which Stock Is the Better Value Option? – Nasdaq” on September 12, 2019, also Nasdaq.com with their article: “Ulta Stock Is Beginning to Look Pretty Again – Nasdaq” published on September 11, 2019, Streetinsider.com published: “ULTA Salon (ULTA) Gross Margin Upside Should Offset High Comp Expectations – Guggenheim – StreetInsider.com” on August 15, 2019. More interesting news about Ulta Beauty, Inc. (NASDAQ:ULTA) were released by: Nasdaq.com and their article: “June 14th Options Now Available For Ulta Beauty (ULTA) – Nasdaq” published on May 02, 2019 as well as Nasdaq.com‘s news article titled: “Stock Market Today: 2020 Recession Odds; Ulta Pummeled – Nasdaq” with publication date: August 30, 2019.

Hhr Asset Management Llc, which manages about $2.77 billion and $1.34B US Long portfolio, decreased its stake in Facebook Inc (NASDAQ:FB) by 42,397 shares to 291,826 shares, valued at $56.32 million in 2019Q2, according to the filing. It also reduced its holding in 2U Inc (NASDAQ:TWOU) by 298,362 shares in the quarter, leaving it with 580,747 shares, and cut its stake in Pivotal Software Inc.

Investors sentiment decreased to 1.15 in 2019 Q2. Its down 0.17, from 1.32 in 2019Q1. It fall, as 46 investors sold ULTA shares while 193 reduced holdings. 73 funds opened positions while 203 raised stakes. 49.76 million shares or 0.23% more from 49.65 million shares in 2019Q1 were reported. Riverhead Cap Mngmt Limited Liability Company invested in 0.03% or 2,535 shares. Commonwealth State Bank Of Aus owns 0% invested in Ulta Beauty, Inc. (NASDAQ:ULTA) for 86 shares. Fil invested in 1 shares or 0% of the stock. Riverpark Advsr Ltd Co holds 3.31% or 22,280 shares. Ashford Mgmt Incorporated holds 2,534 shares or 0.12% of its portfolio. Motley Fool Asset Mgmt Lc has invested 0.04% in Ulta Beauty, Inc. (NASDAQ:ULTA). 5,093 were reported by Northwestern Mutual Wealth Management. Daiwa Secs Grp Inc invested in 2,270 shares or 0.01% of the stock. 12 are held by Gemmer Asset Limited Liability Com. Wendell David Associate reported 0.2% in Ulta Beauty, Inc. (NASDAQ:ULTA). Strategic Finance Services Inc reported 0.48% stake. State Of Tennessee Treasury Department reported 40,798 shares. Sumitomo Life owns 2,169 shares. Bb&T Limited Liability Corp reported 0.01% of its portfolio in Ulta Beauty, Inc. (NASDAQ:ULTA). Hightower Ltd Com reported 3,429 shares.

Investors sentiment decreased to 0.7 in Q2 2019. Its down 0.18, from 0.88 in 2019Q1. It worsened, as 82 investors sold BIIB shares while 316 reduced holdings. 78 funds opened positions while 202 raised stakes. 153.48 million shares or 6.01% less from 163.29 million shares in 2019Q1 were reported. Motco has 0% invested in Biogen Inc. (NASDAQ:BIIB). Mai Capital reported 1,464 shares. 1,279 were reported by Captrust Fin Advisors. Howland Capital Mgmt Lc holds 0.02% or 930 shares in its portfolio. Mackenzie holds 29,812 shares. Archford Capital Strategies Ltd Liability reported 0% of its portfolio in Biogen Inc. (NASDAQ:BIIB). Johnson Inv Counsel owns 5,126 shares for 0.02% of their portfolio. Prudential Incorporated owns 836,087 shares for 0.3% of their portfolio. Twin Tree LP holds 25,288 shares. Northeast Consultants reported 0.07% stake. Louisiana State Employees Retirement Systems invested in 9,700 shares. Voya Investment Mgmt Ltd Liability Corp reported 0.07% stake. First Interstate Bancorporation invested in 0.04% or 845 shares. Prudential Public Ltd reported 168,091 shares. 8,690 are owned by Glob Endowment Limited Partnership.

More notable recent Biogen Inc. (NASDAQ:BIIB) news were published by: Finance.Yahoo.com which released: “Biogen Inc. (NASDAQ:BIIB) Insiders Increased Their Holdings – Yahoo Finance” on June 12, 2019, also Nasdaq.com with their article: “Noteworthy Monday Option Activity: BIIB, CAT, MKTX – Nasdaq” published on September 09, 2019, Seekingalpha.com published: “SMA STAT test now available at no charge – Seeking Alpha” on August 20, 2019. More interesting news about Biogen Inc. (NASDAQ:BIIB) were released by: Finance.Yahoo.com and their article: “Better Buy: Biogen vs. Celgene – Yahoo Finance” published on August 25, 2019 as well as Forbes.com‘s news article titled: “Which Stock: Tesla or Biogen? 2 Worlds. Same Price – Forbes” with publication date: August 22, 2019.

Ulta Beauty, Inc. (NASDAQ:ULTA) Institutional Positions Chart

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Keywise Capital Management LTD Has Lowered Taiwan Semiconductor Mfg LTD (TSM) Stake by …

Some Historical TSM News: 26/04/2018 – MEDIA-TSMC plans to invest $13.5 bln to expand Hsinchu unit – Bloomberg; 22/05/2018 – Apple Partner …

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) Logo

Keywise Capital Management Ltd decreased its stake in Taiwan Semiconductor Mfg Ltd (TSM) by 4.92% based on its latest 2019Q1 regulatory filing with the SEC. Keywise Capital Management Ltd sold 23,500 shares as the company’s stock declined 2.72% . The hedge fund held 453,800 shares of the semiconductors company at the end of 2019Q1, valued at $18.59M, down from 477,300 at the end of the previous reported quarter. Keywise Capital Management Ltd who had been investing in Taiwan Semiconductor Mfg Ltd for a number of months, seems to be less bullish one the $213.04 billion market cap company. The stock increased 0.50% or $0.22 during the last trading session, reaching $43.93. About 1.71 million shares traded. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has risen 3.75% since September 9, 2018 and is uptrending. It has outperformed by 3.75% the S&P500. Some Historical TSM News: 26/04/2018 – MEDIA-TSMC plans to invest $13.5 bln to expand Hsinchu unit – Bloomberg; 22/05/2018 – Apple Partner TSMC Is Said to Start Making Chips for New IPhones; 19/04/2018 – Taiwan Semiconductor Manufacturing (TMSC) said Thursday it expects second-quarter revenue to range between $7.8 billion and $7.9 billion, well below expectations; 29/04/2018 – China’s $140 billion push to topple Intel, Samsung and TSMC; 19/04/2018 – TSMC 2330.TW TSM.N SAYS IT SEES SEMICONDUCTOR MARKET GROWTH AT 5 PCT; 24/05/2018 – TAIWAN’S TSMC 2330.TW TSM.N SAYS IT ORDERS MACHINERY EQUIPMENT WORTH T$306 MLN; 28/03/2018 – TAIPEI — U.S. senior trade official met with Chairman Morris Chang of Taiwan Semiconductor Manufacturing Co., the world’s largest contract chipmaker, and other industry executives this week in Taiwan to foster greater collaboration, according to a source familiar with the matter and a local media report; 10/04/2018 – Taiwan Semiconductor Manufacturing Mar Rev NT$103.70B; 15/05/2018 – Chinese chipmaker takes on TSMC and Intel with cutting-edge tool; 01/05/2018 – Mentor enhances tool portfolio for TSMC 5nm FinFET and 7nm FinFET Plus processes and Wafer-on-Wafer stacking technology

Kensico Capital Management Corp decreased its stake in Cheniere Energy Inc (LNG) by 3.83% based on its latest 2019Q1 regulatory filing with the SEC. Kensico Capital Management Corp sold 460,300 shares as the company’s stock rose 1.09% . The hedge fund held 11.55 million shares of the public utilities company at the end of 2019Q1, valued at $789.33M, down from 12.01 million at the end of the previous reported quarter. Kensico Capital Management Corp who had been investing in Cheniere Energy Inc for a number of months, seems to be less bullish one the $15.37 billion market cap company. The stock increased 0.26% or $0.16 during the last trading session, reaching $62.15. About 289,463 shares traded. Cheniere Energy, Inc. (NYSEMKT:LNG) has risen 1.80% since September 9, 2018 and is uptrending. It has outperformed by 1.80% the S&P500. Some Historical LNG News: 09/05/2018 – Cheniere Sabine Pass LNG Tanker Tracker for May 9 (Table); 27/03/2018 – CHENIERE ENERGY INC LNG.A : BERNSTEIN RAISES TARGET PRICE TO $63 FROM $55; 04/05/2018 – CHENIERE SAYS NEXT WINTER LNG PRICES ALREADY NEAR DOUBLE DIGITS; 04/05/2018 – CHENIERE’S THIRD LARGEST LNG CONSUMER IS NOW CHINA; 06/03/2018 – ETEnergyWorld: India’s first US-sourced natural gas shipment leaves from Cheniere Energy’s Sabine Pass | @ETEnergyWorld…; 17/05/2018 – Cheniere Energy Partners LP Holdings, LLC Receives Merger Proposal from Cheniere Energy, Inc; 24/04/2018 – Cheniere Louisiana Sabine Pass LNG output unaffected by tank shutdowns; 08/05/2018 – Cheniere Partners Holdings Declares Quarterly Dividend; 30/04/2018 – Cheniere Energy Presenting at Conference May 14; 04/05/2018 – CHENIERE ENERGY CEO JACK FUSCO COMMENTS ON CONFERENCE CALL

Analysts await Cheniere Energy, Inc. (NYSEAMERICAN:LNG) to report earnings on November, 14. They expect $0.20 EPS, down 23.08% or $0.06 from last year’s $0.26 per share. LNG’s profit will be $49.47 million for 77.69 P/E if the $0.20 EPS becomes a reality. After $-0.44 actual EPS reported by Cheniere Energy, Inc. for the previous quarter, Wall Street now forecasts -145.45% EPS growth.

Investors sentiment increased to 1.3 in 2019 Q1. Its up 0.06, from 1.24 in 2018Q4. It improved, as 29 investors sold LNG shares while 136 reduced holdings. 75 funds opened positions while 139 raised stakes. 226.57 million shares or 0.37% less from 227.40 million shares in 2018Q4 were reported. Apg Asset Management Nv invested in 374,893 shares. Paloma Prns Management holds 0.03% of its portfolio in Cheniere Energy, Inc. (NYSEAMERICAN:LNG) for 20,375 shares. Paradigm Fin Advsrs Ltd Liability holds 1.02% or 39,188 shares in its portfolio. Harvest Fund Limited Liability Corp stated it has 3.93% of its portfolio in Cheniere Energy, Inc. (NYSEAMERICAN:LNG). 120 were reported by Brown Brothers Harriman Company. Td Asset Mngmt holds 14,688 shares or 0% of its portfolio. Cbre Clarion Securities Limited Liability Co holds 0.15% or 134,353 shares in its portfolio. Hrt Ltd Liability Co invested 0.11% of its portfolio in Cheniere Energy, Inc. (NYSEAMERICAN:LNG). Gru One Trading LP invested in 0.02% or 43,768 shares. Moreover, Brigade Ltd Partnership has 1.4% invested in Cheniere Energy, Inc. (NYSEAMERICAN:LNG) for 328,500 shares. Westwood Holdings Group stated it has 0.04% of its portfolio in Cheniere Energy, Inc. (NYSEAMERICAN:LNG). Credit Agricole S A has invested 0.42% in Cheniere Energy, Inc. (NYSEAMERICAN:LNG). Fairview Investment Management Limited Liability Company holds 2.03 million shares. New Jersey Better Educational Savings Trust holds 4,000 shares or 0.36% of its portfolio. Moore Capital Management Lp owns 375,000 shares.

Kensico Capital Management Corp, which manages about $7.43 billion and $5.08 billion US Long portfolio, upped its stake in Centennial Resource Dev Inc by 170,241 shares to 3.99 million shares, valued at $35.03 million in 2019Q1, according to the filing.

More news for Cheniere Energy, Inc. (NYSEAMERICAN:LNG) were recently published by: Businesswire.com, which released: “Cheniere Announces Substantial Completion of Train 2 at the Corpus Christi Liquefaction Project – Business Wire” on September 03, 2019. Finance.Yahoo.com‘s article titled: “7 Well-Positioned Oil Stocks in Today’s Trading Environment – Yahoo Finance” and published on September 04, 2019 is yet another important article.

More notable recent Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) news were published by: Finance.Yahoo.com which released: “Stocks: Papa John’s Soars in Premarket; J&J, Comcast, Zynga All Rise – Yahoo Finance” on August 27, 2019, also Finance.Yahoo.com with their article: “5 Semiconductor Companies Gurus Agree On – Yahoo Finance” published on September 05, 2019, Seekingalpha.com published: “Stocks To Watch: Eyes On Jackson Hole, Lyft And Disney D23 – Seeking Alpha” on August 17, 2019. More interesting news about Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) were released by: Fool.com and their article: “Three 5G Stocks Poised to Soar Over the Next Decade – Motley Fool” published on August 19, 2019 as well as Finance.Yahoo.com‘s news article titled: “Is Taiwan Semiconductor Mfg. Co. Ltd. (TSM) A Good Stock To Buy? – Yahoo Finance” with publication date: June 07, 2019.

Cheniere Energy, Inc. (NYSEAMERICAN:LNG) Institutional Positions Chart

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LG Developing Blockchain Phone According to Industry Sources

Earlier this year, Samsung also launched the Galaxy S10 smartphone, which provides users with a cryptocurrency wallet and dApps, and has been …

South Korean tech giant LG is said to be working with blockchain developers to launch blockchain-based smartphones in response to Samsung’s recently unveiled Klaytn Phone, according to sources within the industry.

LG Blockchain Phone

According to media outlet IT Chosun, the tech giant plans to expand the next generation of its smartphones to introduce blockchain-friendly smartphones, making it the second major South Korean phone manufacturer to make a move in that direction. An industry insider said LG had already gone through market research of blockchain firms as well as held discussions with local decentralized application (DApp) developers, devising a use case for its future product.

The industry insider noted that “LG is likely to respond to Samsung’s innovation initiative.” Another source familiar with the LG Group told the media outlet that the company has been “struggling to apply blockchain to smartphones without any dissimilarity.”

The news follows just as last week LG’s rival Samsung launched yet another blockchain-friendly smartphone, dubbed KlaytnPhone, as a Galaxy Note 10 variant. The device will come with a wallet and a free handout of KLAY, the token developed by Kakao off-shoot, GroundX.

Currently the smartphone is available only in South Korea and is named after Kakao’s blockchain subsidiary GroundX’s blockchain platform Klaytn.

Rivalry with Samsung

Earlier this year, Samsung also launched the Galaxy S10 smartphone, which provides users with a cryptocurrency wallet and dApps, and has been adding a number of decentralized apps (or dapps) to its official DApp store, Blockchain Keystore.

The media outlet further quoted an anonymous source as saying that Samsung is a more attractive proposition for blockchain developers as the company already has a crypto wallet for smartphones and a dapps marketplace, whereas LG does not support blockchain technology yet.

However another unnamed source pointed out that LG has joined Klaytn Governance Council, an alliance of multinational businesses and organizations, responsible for Klaytn’s governance, consensus node operation, and ecosystem growth, in June this year.

Although no definite details about LG’s future smartphone have been disclosed, this move marks promising new waves of blockchain- friendly smartphones as well as encourages more adoption for the industry.

LG Exploring Blockchain

Other blockchain – friendly smartphones that are currently available in the market include Sirin Labs’ FINNEY and HTC’s EXODUS. Last year, Pundi X unveiled its blockchain phone XPhone, which allows users to switch between a traditional mode supporting Android apps and a blockchain mode which will enable them to access dapps loaded on the device.

Meanwhile, LG has been exploring a range of blockchain-related business avenues. For instance, the company has launched its own Monachain blockchain platform, and is working with major bank KB on a token of some form – thought by many to be a cryptocurrency or a stablecoin.

Most recently, LG filed a trademark application for ThinQWallet in the U.S. aiming to provide a number of services such as issuance of cyber money, a computer software platform for blockchain, and mobile electronic wallet for cryptocurrency.

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Crypto Adoption: LG Takes its First Step In Blockchain Smartphone Market

Earlier this year, Samsung launched the Galaxy S10 smartphone, which also offers a cryptocurrency wallet and decentralized apps (dApps).

Tech Giant LG is getting prepared to launch its own-blockchain-powered smartphone as per reports.

LG to Launch Blockchain-powered Smartphone

Per reports from a leading media outlet, Chosun, LG is all set to launch its own blockchain-powered smartphone in response to Samsung’s recently launched Klatyn phone.

The news has been officially confirmed by Kakao’s Ground X subsidiary last week. Furthermore, LG has met with several dApp developers to discuss future collaborations.

The report further mentions an unnamed insider as saying,

“ Samsung “makes a more attractive proposition for blockchain developers” as the company “already has a crypto wallet for smartphones and a dApps marketplace.”

LG’s Tryst with Blockchain

LG has been keen on tapping the prowess of blockchain technology and has been exploring a range of blockchain-related avenues. Earlier, the tech giant launched its Monachain blockchain platform. Also, it is working with major Czech bank, KB, on a token of some form. The company also plans to work with farmers and schools on an ambitious blockchain-powered school lunches project.

LG recently filed a trademark application for ThinQWallet in the U.S. The wallet will reportedly offer a number of services. These include the issuance of cyber money, a computer software platform for blockchain, and mobile electronic wallet for cryptocurrency.

Samsung’s KlatynPhone Launch

Samsung’s new smartphone is priced at $1,000. Moreover, buyers will also get some “Klay” tokens, the native token of Klatyn.

Earlier this year, Samsung launched the Galaxy S10 smartphone, which also offers a cryptocurrency wallet and decentralized apps (dApps). Furthermore, Samsung earlier planned to expand these features to their Galaxy phones to help blockchain reach wider audiences.

Recently the creators of Finney, the world’s first blockchain-focused smartphone, announced that the device would soon have a debut in Bangladesh. Also, Huobi announced plans to release a blockchain-powered smartphone “Acute Angle,” developed by the Whole Network, earlier this week.

With several contenders launching blockchain-based smartphones, it will be interesting to see which one becomes a customer favorite.

Summary
Crypto Adoption: LG Takes its First Step In Blockchain Smartphone Market
Article Name
Crypto Adoption: LG Takes its First Step In Blockchain Smartphone Market
Description
Tech Giant LG is getting prepared to launch its own-blockchain-powered smartphone as per reports.
Author
Supriya Saxena
Publisher Name
Coingape
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DisclaimerThe presented content may include the personal opinion ofthe author and is subject to market condition.Do your market research before investing in cryptocurrencies.The author or the publication does not hold any responsibilityfor your personal financial loss.
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