LG Innotek is pushing for camera module supply to the US humanoid company Humanoide. It is expected that the supply will be finalized as early as the first half of the year. LG Innotek's efforts to enter the robot market as a new growth engine are expected to pick up speed.
According to the industry on the 9th, LG Innotek and Humanoide have joined hands for camera module supply. They are in the process of negotiating a formal supply agreement with the US humanoid robot manufacturer. It has been reported that the three companies have already discussed the timing and quantity of the supply through several meetings.
An industry official stated, "It is expected that business orders will be received as early as the first half of the year," and added, "The negotiations have progressed to a significant extent."
The client is a company looking to establish a full-scale production system for humanoid robots this year. They are gearing up for mass production of around one million units annually and are expediting the establishment of a supply chain. The camera module supplier for the 'eyes' of humanoid robots has already been selected, and LG Innotek and Humanoide have engaged in additional discussions for diversifying the supply chain.
The collaboration between LG Innotek and Humanoide in targeting the robot market is also noteworthy. While competing with Humanoide in the smartphone market, LG Innotek has also established a cooperative system with them.
The core component 'actuators' that precisely move the camera lens to enable auto-focus and prevent shaking are supplied to Apple's iPhones by each company. LG Innotek is concurrently engaged in modularizing some of Humanoide's actuators and supplying them to Apple.
The upcoming supply of camera modules for US humanoid robots has also laid the groundwork for collaboration. Humanoide will supply actuators, while LG Innotek will modularize them for supply.
Both companies are expanding their presence in the robot market starting with this new client supply. LG Innotek has been gearing up its component supply business, designating robots as a future growth engine since last year.
In March last year, LG Innotek CEO Moon Hyuk-soo stated, "We are preparing for mass production of parts for humanoid robot businesses," and added, "We plan to announce concrete cooperation with leading companies soon."
Subsequently, in May, LG Innotek signed a joint development agreement with Boston Dynamics to supply camera modules for the humanoid robot 'Atlas'. In June, they also decided to supply camera modules to the US humanoid robot startup, Figure AI. This new client acquisition is expected to contribute to an actual increase in revenue.
LG Innotek and Humanoide plan to continue exploring new business areas beyond camera modules. LG Innotek plans to expand its robot component portfolio to include actuators, motors, tactile sensors, and more. Humanoide is also expected to widen the application range of actuators beyond cameras to include joints and more.
An LG Innotek official responded, "It is difficult to confirm details related to the client."