Author: Wang Nai
Editor: Shi Yaqiong
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On April 12, Luke Technology, a smart door lock company, held a 2022 spring new product launch conference with the theme of "second to none and then return". Chen Bin, founder and CEO of Luke Technology, announced that Yunding Technology officially changed its name to "Luke Technology"; at the same time, it released a new product in the spring of 2022 - Luke Finger Vein Cat's Eye Smart Lock S50M. This is also an integrated upgrade of Luke Technology after the launch of finger vein SV40 - finger vein + visible cat's eye.
Luke Technology 2022 spring new product launch
The B-end apartment market accounts for more than 70%, and luke cuts into the high-priced C-end market
According to RUNTO data, China's smart door lock market reached 16.95 million units in 2021, an increase of 5.9% year-on-year. With the increase in the number of long-term and short-term rental apartments in China and the increased purchasing power of home users for smart door locks, the Leopard Research Institute predicts that the scale of the smart lock industry is expected to reach 58.53 billion yuan in 2025.
Among the current smart lock manufacturers, in addition to the transformation of professional door lock manufacturers and the cross-border of Internet leaders, they also include Internet emerging smart door lock brands such as Luke and Guojia. Traditional door lock manufacturers have advantages in door lock production and offline sales channels, while the cross-border internet leader, such as Xiaomi ecological chain, has advantages in brand awareness and price.
Founded in 2014, Luke Technology (formerly Yunding Technology) is an Internet smart door lock enterprise focusing on providing intelligent security door locks and solutions. Previously, it has successively developed three major business sectors of rental housing, household and international, which belong to the three major brand lines of Yunding, Luke and Lockin. Referring to the competitive advantage of Luke, Chen Bin mainly mentioned the advantages of Luke in terms of innovation ability and production, supply and research ecological chain.
At this press conference, the three private brands were renamed as the "Lockin Deer" brand. Chen Bin, founder and CEO of Luke Technology, said that this is a brand-level unification, because the company has actually opened up the company's internal sales channels, whether it is in the underlying technology of residential safety, the platform system of production, supply and research, or to B and to C, domestic and overseas sales channels. The name change is also to make the company's brand positioning more unified and clear.
The three private brands were renamed the "Lockin Deer" brand
At present, Luke Technology includes two major business segments of smart door locks and residential security solutions, two domestic and international sales markets, and two major customer directions of rental (To B end) and home (To C end).
Luke Technology at the beginning of the development of the first is the apartment business, launched the apartment smart lock, and later developed a set of "smart door lock + water meter + access control + SaaS system" software and hardware integration of the rental scene solution, which is also the main product line of the previous Yunding brand, and further expanded to the public rental housing market in the past two years. At present, Luke accounts for about 75% of the smart door lock market in the apartment market, the number of tenants served is 13.5 million, and 92% of the Top apartment brands have in-depth cooperation, such as Chain Home, Country Garden, Vanke, etc.
The 14th Five-Year Plan also proposes that the state will accelerate the cultivation and development of the housing rental market, effectively revitalize the existing housing resources, effectively and orderly expand the supply of urban rental housing, and improve the long-term rental housing policy. At the same time, it is necessary to effectively increase the supply of affordable housing and improve the basic system and support policies for housing security.
Chen Bin revealed at the press conference that Luke Rental will soon release the "Luke Public Rental Housing Intelligent Solution" in June, which will help the company seize a large public rental housing market.
The To B end is the main business growth point of Luke Technology before, but the Luke Finger Vein Cat's Eye S50M released at this conference is a consumer product that cuts into the C-end market.
Asked about the company's focus on C-end brands, Chen Bin said that compared with the number of tenants of Luke B-end service, the C-end market is currently only a million, but the user's attention to the security of door locks will gradually increase, just like the elimination and upgrading of smart phones in the past decade.
In the C-end market, Luke Technology has actually experienced nearly five years of product upgrades. After years of technical precipitation in the rental market in terms of biometrics, mechanical lock bodies and other aspects of residential security, Luke has successively launched home smart door lock Touch, Classic and so on in 2017. Among them, Classic has an annual sales of 300,000 units because of its unique "concentric circle invisible fingerprint" design, which has led to the design trend of "touching fingerprint + pressing down to unlock" in the field of smart door locks.
With the development of the domestic market, deer customers have gradually opened the door to the sea. In 2019, Luke Technology launched Lockin Smart Lock, a smart lock product for overseas markets, and has shipped more than 250,000 units of single products, becoming the TOP 2 of the North American door lock category. According to Chen Bin's new product launch, Lockin Smart Lock G30 is also about to be released, and this lock is expected to be adapted to more than 40 countries and regions. This time, Luke Technology renamed the three major private brands to the "Lockin Luke" brand, which is a new overall planning and business upgrade for the company's product business, sales market and brand positioning.
Finger vein lock, can help smart lock manufacturers to take a differentiated breakthrough road
The innovative ability of smart door locks is mainly reflected in the iteration of identification technology. At present, the main unlocking methods of smart locks are fingerprint recognition and face recognition. However, the data entry of fingerprints and faces will also bring data security problems, especially face recognition, and the leakage of face information has become one of the concerns of families choosing to equip smart locks. Fingerprint unlocking also faces the pain points of some use scenarios, such as inaccurate identification problems in the case of fingers dipped in water and oil, and low recognition problems caused by shallow lines such as the elderly and children.
As opposed to fingerprint recognition and face recognition, finger vein recognition technology is a biometric recognition technology that verifies an individual's identity by identifying images of veins and vessels under the skin of the fingers. This technology has advantages in identifying stability, difficulty in stealing copying, accuracy, security, etc., and can be applied to financial services, people's livelihood services, education and examinations and other fields.
In the past smart lock market, because the cost of fingerprint recognition modules was low, fingerprint recognition was more commonly used in the market, but there were also problems such as serious homogenization and insufficient differentiation. In recent years, with the reduction of the cost and volume of the finger vein recognition module, the finger vein smart lock may become a differentiated road for smart lock manufacturers to highlight the siege.
The S50M launched by Luke in the spring of 2022 new product launch is a finger vein smart lock. This lock applies the finger vein technology 2.0 after the technical upgrade, on the basis of the first generation, this upgrade can increase the recognition rate of special groups and special scenes by 6%, and increase the details of the characteristics of the whole population by 50%, which can achieve "one entry, lifetime application", and the first price of the new product is 2099 yuan.
Compared with the previous finger vein lock, S50M also adds the function of the visual cat's eye to the finger vein. This cat's eye can reach a 160-degree field of view, and the takeaway placed on the ground can be seen through the APP interface, and it can also be used to identify pedestrians passing by outdoors in greater detail. The Luke APP also automatically uploads videos and saves the footage of pedestrians who stay in front of the door for a long time within three days, which also improves the safety and convenience of smart homes.
The angle of view of the Deer S50M
At the same time, this lock adopts the design of dual battery separation power supply, the door lock is powered by 8 AAA dry batteries, which can last for 12 months, and Maoyan is powered by a 5000mAh lithium battery, which can last for 5 to 8 months. When the cat's eye battery is not charged, it will not affect the use of the door lock. In addition, the deer's finger vein door lock also sets up the last line of defense for mechanical emergency unlocking, ensuring that the lock can be unlocked at any emergency moment. On the mobile phone APP, parents can also open the "child lock function", after opening, the room can only be unlocked through the emergency knob that is difficult for children to open to ensure the safety of family members.
During the Jingdong Double 11 period in 2021, the finger vein door lock increased by 30 times year-on-year, the sales volume of lockin luke's finger vein smart lock increased by 36 times year-on-year, and achieved a double crown of sales volume and sales of the all-platform finger vein smart lock; in terms of market share, Lockin deer is currently in the first place in the industry: According to the data of Tmall Strategy Center, the market share of luke finger vein smart door lock is 88%; data from Jingdong Consumer and Industrial Development Research Institute shows that Jingdong platform Luke finger vein smart lock category market share of 91%.
At present, the finger vein smart door lock market is still in its early stages, and the annual market size is about one million units. For the market development and brand positioning of finger vein locks, Chen Bin mentioned that the company hopes to make a high-end product that leads the industry. Analogous to the smartphone market, innovation and differentiation can determine the product ceiling. From the B-end to the C-end, the company hopes to first seize the high-end market, and then expand in the low-end market, which is good for the company's long-term development.
Luke built its own intelligent industrial park to promote the integration of production, supply and research
Chen Bin, founder and CEO of Luke Technology, said that the B-end market looks at the cost performance and system solutions, and the C-end market looks at the innovative experience and looks at quality and safety. Regardless of the market, product performance and safety are necessary, which is inseparable from the innovation of the company's technology and the construction of the supply chain.
In terms of technology accumulation, Luke currently applies for 468 global patents, including 221 invention patents and 53 authorized. In addition, the company has also participated in the formulation of the "GB 21556 Electronic Anti-theft Lock General Standard", "Building and Residential Area Digital Technology Application Smart Door Lock Security", "Door Lock NFR Standard" and other national and industry alliance standards.
As a smart lock R & D, production and sales enterprises, Luke is in the middle of the smart lock industry chain. Moreover, China's smart lock industry chain is long, and the upstream includes a series of suppliers such as hardware, electronic bodies, and lock bodies. After the design of the door lock is completed, the smart lock enterprise needs to be responsible for the assembly and processing of the parts by the foundry. In order to increase the degree of control of the industrial chain, the self-built industrial park is one of the development strategies for deer customer supply and efficiency.
According to Chen Bin, in October last year, Luke Technology invested in the first phase of the Luke Intelligent Security Equipment Industrial Park in Tongliang District, Chongqing, and the annual production capacity peak shipment can reach 5 million units. It is expected that after the completion of the third phase, the annual production capacity will reach 15 million units.
Referring to why production plants should be established, Chen Bin said that intelligent manufacturing should still return to manufacturing and hardware. The establishment of the industrial park makes the company more controlled over the supply of core components or some upstream core chips. Without your own industrial park, these are difficult to achieve. In the future, Luke Industrial Park will still focus on core components and core processes, strengthen the control of the whole process of production, supply and research, so that enterprises have more advantages in terms of high performance, low power consumption, silent and other product performance, or cost control.