SK Magic Inc., an affiliate of South Korea’s SK Group, plans to apply Internet of Thing technology to electric ranges and ovens to bolster sales.
“We will soon launch the premium IoT-equipped electric range that would help raise energy efficiency by 10 percent,” said Lee Sung-jin, the head of the marketing strategy division of SK Magic.
The company is aiming to sell more than 90,000 electric ranges and cement leadership in the market by upping its share to 15 percent. The company previously Tongyang Magic was acquired by SK Networks in September 2016 at $563 million.
The company sold about 74,000 units and took up 13 percent share in the market. The second and third makers command less than 10 percent.
SK Magic focused on strengthening the functionality and safety for the company’s next product Super Induction Hybrid Range embedded with IoT technology. It applied high-efficiency induction and highlight and added the sleep mode to cut down the electricity use by more than 10 percent. With its induction, 550 milliliter water for ramen noodles can be boiled in just a minute. The three to four watt standby power consumed when it is powered off can be reduced to one watt or below.
By Jin Young-tae
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]