Business
Intelligent Living Application Group Announces Plans to Develop Advanced Smart Home Security Devices
HONG KONG, Feb. 27, 2023 /PRNewswire/ -- Intelligent Living Application Group Inc. (NASDAQ: ILAG) ("Intelligent Living" or the "Company"), a premium lockset
About this update from Intelligent Living Application Group Inc.
[{"type":"text","content":"HONG KONG, Feb. 27, 2023 /PRNewswire/ -- Intelligent Living Application Group Inc. (NASDAQ: ILAG) (\"Intelligent Living\" or the \"Company\"), a premium lockset manufacturer in Hong Kong, announced today plans to develop and launch home security devices incorporated with blockchain technology, and that it has engaged a Hong Kong-based systems development company, China Star Technology Development Limited (\"China Star\"), to develop smart home products and devices in order to enter and compete in the smart home and IoT market. China Star will undertake the technical product development work and Intelligent Living will own all the rights for the new products, devices, applications and related intellectual property including the software used in the systems.\nMr. Bong Lau, Chairman and Chief Executive Officer of Intelligent Living, commented, \"We are committed to introduce new and innovative products into the marketplace and believe that smart home products complement our capability in the design and production of affordable high-quality locksets. As mentioned in our recently completed initial public offering last July, we will invest in research and development for smart locks, smart security and internet of things (IoT) products. We are confident that our working with China Star will generate synergies that will result in the development of advanced lockset products and smart home security devices.\"\nThe Company foresees that the technical product development work will entail encryption and communication security for home products utilizing blockchain technology. In addition to smart locks, such smart home security products could include audio / video (AV) control systems, climate control technologies and closed-circuit television (CCTV) surveillance cams.\nChina Star Technology Development Limited, based in Hong Kong, is a technology development company that was a pioneer in remote Point of Sale (POS) and surveillance systems covering more than 300 retail points in China. China Star was also one of the pioneers in developing smart home products in Hong Kong and has been an active company in this sector since 2017. \nAbout Intelligent Living Application Group Inc.\nIntelligent Living Application Group Inc. (\"ILAG\") is a premium lockset manufacturer in Hong Kong. It manufactures and sells high quality mechanical locksets to c...