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Petnow to Showcase Its Pet Biometric Identification Technology at CEATEC 2024

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Petnow to Showcase Its Pet Biometric Identification Technology at CEATEC 2024
Business

Business

Petnow to Showcase Its Pet Biometric Identification Technology at CEATEC 2024

2024-10-14 10:00 Last Updated At:10:15

CHIBA, Japan, Oct. 14, 2024 /PRNewswire/ -- Petnow, a leading provider of pet biometric identification technology, will unveil the Japanese version of its innovative Petnow app at CEATEC 2024, held from October 15-18 at the Makuhari Messe in Chiba, Japan. The Petnow app allows users to identify their dogs and cats by recognizing unique biometric patterns, such as a dog's nose print or a cat's facial features. The app also features a location-based service that helps owners track and reunite with lost pets.

Since its founding in 2018, Petnow has developed advanced AI-based biometric technology for pets. The company has been widely recognized for its groundbreaking work, receiving the CES 2022 Innovation Award, the SuperZoo NPS Award in 2023, and the prestigious iF Design Award in 2024, among others.

Key Features of Petnow's Technology 

Petnow's technology is centered on the identification of pets using their unique biometric patterns. The app enables pet owners to capture their dog's nose print or their cat's facial features with a smartphone, allowing for quick and accurate identification. Additionally, the app offers a lost-and-found feature, using the user's location to display reports of missing and found pets on a map. The app's AI analyzes reported findings and sends alerts to owners when pets matching the description are found nearby.

Petnow's biometric solution presents a promising alternative to the traditional microchip implants currently used for pet identification. Unlike microchips, which require surgical implantation and specialized scanners, Petnow's technology is non-invasive and does not cause any discomfort to pets. It is also particularly useful for animals, such as cats, that are not subject to mandatory microchipping. In France, Petnow has partnered with the national animal registration organization I-CAD and is currently discussing field tests to explore the app's potential in a national registration system.

Junho Lim, CEO of Petnow, stated, "In Japan, where microchipping became mandatory for pets in 2022, there is significant interest in the Petnow app, especially for pets that fall outside the mandatory registration, such as older pets. We also expect the app to be highly beneficial for cat owners, given the app's industry-leading accuracy in feline biometric identification."

With its Japanese debut at CEATEC 2024, Petnow aims to further expand its presence in the global market, following its successful launches in the U.S., France, and Germany.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Petnow to Showcase Its Pet Biometric Identification Technology at CEATEC 2024

Petnow to Showcase Its Pet Biometric Identification Technology at CEATEC 2024

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Coway Announces Financial Results for Q3 FY2024

2024-11-08 16:57 Last Updated At:17:15

SEOUL, South Korea, Nov. 8, 2024 /PRNewswire/ -- Coway Co., Ltd., the "Best Life Solution Company," has announced its financial results for the third quarter of 2024.

"We continue to secure new customers, having seen our rental accounts exceed 10 million by merit of strong sales growth both domestically and internationally, and are also maintaining stable contract retention," said Soon Tae Kim, Coway's Chief Financial Officer. "For the remainder of this year and beyond, we will continue to prioritize research and development that drives product innovation and digitalization, and will also strive to maintain our robust performance growth."

Coway's reported earnings are as follows:

* The reported figures are taken from the consolidated K-IFRS (International Financial Reporting Standards) statement.

Cumulative revenue for 2024 now stands at KRW 3,184.4 billion (+7.5% YoY) with an operating profit of KRW 612.0 billion (+8.3% YoY).

In South Korea, domestic business generated KRW 660.8 billion in revenue for the third quarter, up 9.9% from last year. This increase has been attributed to steady sales of the 'Icon Ice Water Purifier' during the summer months, as well as the ongoing popularity of the BEREX lineup of mattresses and massage chairs. The net increase in domestic rental accounts during the third quarter, totaling 102,000 accounts, more than doubled compared to the same period last year. Furthermore, the cumulative net increase for the first three quarters of this year amounts to 245,000 accounts, a figure that has already surpassed last year's total net increase of 193,000 accounts.

Coway's overseas subsidiaries also showcased strong growth in the third quarter, with a revenue report of KRW 391.5 billion, a 7.8% year-on-year increase. Of note among these were the Malaysia subsidiary, which achieved a revenue of KRW 293.4 billion with an 8.8% year-on-year increase, and the Thailand subsidiary, which continued to expand its growth trajectory with revenue of KRW 32.5 billion and an 8.9% year-on-year increase.

For additional details about Coway's financial performance, please visit the company's Investor Relations page.

About Coway Co., Ltd. 
Established in Korea in 1989, Coway, the "Best Life Solution Company," is a leading environmental home appliances company making people's lives healthy and comfortable with innovative home appliances such as water purifiers, air purifiers, bidets, and mattresses. The company's most recent venture, the BEREX brand, aims to improve sleep and wellness through cutting-edge mattresses and massage chairs. Since being founded, Coway has become a leader in the environmental home appliances industry, with intensive research, engineering, development, and customer service. The company has proven dedication to innovation with award-winning products, home health expertise, unrivaled market share, customer satisfaction, and brand recognition. Coway continues to innovate by diversifying product lines and accelerating overseas business in Malaysia, USA, Thailand, China, Indonesia, Vietnam, Japan, and Europe, based on the business success in Korea. For more information, please visit http://www.coway.com/ or http://newsroom.coway.com.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Coway Announces Financial Results for Q3 FY2024

Coway Announces Financial Results for Q3 FY2024

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