In a ceremony on June 30, SM Entertainment LG Electronics launched a joint venture named "Fitness Candy" and disclosed their goal to compete with Apple's subscription-type home training service, Apple Fitness+, in the global market.
Apple Fitness+ is an exercise tracking companion app that offers intelligent recommendations for workouts and meditations. Fitness Candy aims to strengthen its competitiveness with rich content ranging from healthy diet, rehabilitation and stress relief to new exercises that transform K-pop and dance.
"I think it is an opportunity to contribute to the global fitness and healthcare industry with SM Entertainment's music, dance and artist content being combined with LG Electronics' global IT technology meet," SM co-CEO Lee Sung-su said in a statement.
LG Electronics controls 51 percent of the joint venture and SM holds the remainder. In September, the two companies would release a dedicated app that can be used on smartphones and smart TVs and launch a two-way personalized service that links data such as cameras and exercise devices.
The joint venture would present six types of content, including weight training, core strengthening, dance, high-intensity interval training, stretching, and meditation. It will also introduce a posture correction service that recognizes and feedbacks users' movements and situations using AI camera technology.
The two companies would develop muscle strengthening devices, indoor bicycles, and smartbands using AI, big data, displays, and motors. LG Electronics CEO Cho Joo-wan said the partnership with SM Entertainment signals a new strategy to lead "the smart home appliance paradigm focusing on customer experience."
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