Hanwha Techwin Spins Out Security Business

Author: John Honovich, Published on Mar 06, 2018

In an era of security acquisitions and mergers, with most recently Avigilon being acquired by Motorola and Bosch merging its security businesses, Hanwha is going against that trend, spinning out its security business to provide greater independent operation.

In this note, we examine the move, the competitive positioning of Hanwha now and the potential impact this spin out will have.

** ** *** ** ******** ************ *** *******, **** **** recently******** ***** ******** ** **************** ******* *** ******** **********, ****** ** ***** ******* **** *****, ******** *** *** security ******** ** ******* ******* *********** *********.

** **** ****, ** ******* *** ****, *** *********** *********** of ****** *** *** *** ********* ****** **** **** *** will ****.

[***************]

Background - **** ******* ** ******

** ******** ****,******* **** *** *** *********** ********* ** ******* ** ******. ** *** **** * *****, ****** *** ******** **** from *** ******* *****, *** ***** ****** ****** ***'*******' ** *** **-******* ********.

** *** **** ** *** ***********,** ****** * *********: ** *** ******** ****, *** ******* ***** *** ****** out *** ****** ** ** ****** ********* ******** ** ******* products. ** *** ******** ****, ****** *** ********* ** ****** in *** ******** ********, **** ** *** ******* **** *** in ***** *** *********.

Spinning *** *** ************ **********

******* *** ************ **** * ****** ** ******* *********** *** technology **********, ********* ********* *********, *********, ***** *******, ******, ***. As****** **** *** ********, *** ********* ******** **** ****** ****** *********, *** ***** business **** ** ***** ** * ******* ****** ******** ***, most ***********, *** ***** ************ *************, *** ******** ******** **** be **** ***. *** *********** ***** ** *** ******** ******** will ***** ** ******.

Remains ****** ******* **** **** ***

*** **** *** ******** ******** **** ****** *** ******** ****** Techwin ********* **** *** *** ******* ******** **** ******** ** be *******.

Independent *********

****** ********* ****:

** ****** **** ****** **** ************ ** ******** ********* **** allow ** ** **** ****** *** ************ ******** ******. ** have ** ***** ** ******** * ****** ****** ** *** next ***** ************ ******** **** ************ ***************.

Competitive *********** - ********

** *** **** * *****, ****** *******'* ***** ************ *********** positioning *** ********* ********. ****** *** **** *** ** *** few ****** ************* ** ******** ** ************* ****** ** ***** surveillance. **** **** ********* ** ******* *** ******** ********** ***** including***** *.***,************** *****-*******,***** *** ***** *******, ****-** **** *** *********, ***.

** ********, **** **** ******* *******.**** *** ****** **** *** ***** ************ ******** ** *****, ***** ***** *** **** ******* ** *********, ***************** ** **** ******* ** *********, *** ********* *** ******* ****** ************* **** ********* *********,***** *** ********, *******'* ********* **** ********, ***.

Only * *** ***** ****** ************* ******

*** **** ************ ****** ****** **** *** * *** ***** manufacturers ********* *********, **** ******* ********, ****, *****, ********* *** Hanwha.

Emerged ** ****** ******

****** *** ******* ** *** '****** ******'. ** *** ******, more ********* ***, ***** ** ******** **** ***-**-*** ********* *** Axis **** *** ********, **** ******** *********. ** *** ***** end, ***** *** ********* **** ******** **** *** ******, ******* new ********, *** *********** ***** ******** ** ******** **** **** of *** ******. ******, **** ********* ***** ******* **** ******** and **** *** ********* ****** ******* **** ***** *** *********, has ***** ** *** **-******* ******,******* ****** **** ***********.

Outlook *** *******

** *** ****** **** ****** ********* ** **** *** ********** development *** ****** ********* *** *** **** *** ******** ********, the ***** ****** ******* *** **** ** ***** ************ **** the **** *** ***** *** ********.

Vote / ****

Update: ****** ******* ******** **** ********** *** *** *** ****

** *** ********, ******* ****** *********. ****** ********* ****** **** are *** *** **** *** *** **********. *** ********* ** full *****:

*** ******* ** *** ******* ******* ** ** ***** *** security ******** ** ******* **** ************* *** ** **** ********** to *** ******. ***** *** ******* *********, *** ******** ******** did *** **** **** ** ****** **** *** ***** ******* companies; ******** *** ******** *** ****, *** *** ***** *** common ************, ********* ** ********** *******.

****** ******* ******** ** * ********** ******** **** *** ****** set ** ******** *** ******* ************ ** ***** ************. ****** has **** *********** *********** ** ******* ***** ** *** ******** business **** *** **** ** ****** ********* *************, ********** *** human *********. ** ******** **** $**** ** * ******* ******** in ***** ** ******** ********** *** ******* ******** **** **** effectively. ** ******** ** ****** ** *** **** ******** ********* optical ****** ********, ******** ****** *** *** ***********. *** ******** is ** ******** ** ****** ** ********** ***********, ************ *** expansion. ***** *** ** ***** ** **** *** ******** ******** and *** ***** *** ****** ******* ** ********* ****** ***** this ***, *********** ********** ******.

Comments (47)

**** **** ** **** *** ******. * **** *** ******* of ****** * ******* ***** ** *** ******* ****. *** of *** ******** ** **** *********** **** ***** **** *** years ** ***** *********, ****, ****** *** ***** ***** **** often ********* ** *** ***** *** **************. **** *** * big ****** ** ***** ** *** ** **** **** ********* to ********.

******* *** ***** ********* ** **, ****** ********* ** ****** more ********* ** ** ** **** **** **. *'** ****** some ** ***** *******, ***** **** ***** *** **** *********** they're *** ********.

****** **** *** * *** **** **** ** ***** ******** business.

***? ** **** ****** ** **** **, **** ***** ****** sell **. ************ *** ********* **** *** ********* / ***** directly.

** ** *****, *** ***** ************ ******** *** **** ** such * **** **** *** **** *** *****, * ***** not **** *** ******** ***, ** *** ****** **** ****** security *** ******** ** ****, * ***** *** *** **** trying ** **** ** ***.

** **** ***** *** **** ***** :)

**** **** * ** **.

****, * ******* *** **** ******* '******', ** ** ******* ******** ************:

** ** *****, **** ****** ***** ** ***** **** *** I *** **** ** *** ** *** **** ** **** one *** *** ****** * **** ***** ***** ****** ***** sold *** **** ** *****.

***, * ** ********* ** **** *** **** **** ** drag ** **** ****.

**** **, ****. ***'* *******. *** ******* ******** **** **** by ********* *** ****** *****.

**'* ****** ***** *** *** *** ****** **** **** ****** since *** **** ** ** ***** ** ********** ******** ***** *******.

** *** ***** ** **** ********, **'* ******** *** ****** any ******* ** ** **** *** *** '******' ** *** don't **** **** *********.

* *** **** ******** **** ******* ** ********* * **** heard. **, *** ********** ******* **** ** **. *** **** doing **** *** **** **** ******* *** *** ******.

**, *** ********** ******* **** ** **.

*** ***** **'* ** ***** **** *** **** ******** ****************** ******* '******' *** **** ******* *********** **** ********?

****, *********, **** *** *** **** *****, **** ***** ** and **** **. *** *** ******* ***** *** **** **** out ** *** **** *** ***?

** * *** ******* ***** ******** ** **** **** * would ********** *** * *** ***. *** **** ***** **** shit. **'* **********.

***** ***** ******* ***** **** ******?

***** ***** ******* ***** **** ******?

****, *** *** ******* ** *** ** **** ***** **** things. ***** * *** ********** *** **** **** ** ** here. **'** ********* ****** **** ** ******* **** *********** ************ ************* *** **** ** ************* ************ ** *** **** ** *********.

** *** '******', **** **** *** **** *** ** **** thread **** ******, **** * ******* ** ** ***** ** direct ************* **** ********** ** ********* ******** ********. *** **** that *** ********* *** ** ********* *********** **** *** ** the** *******(***** * *** ********) ****** **** ***** *** ***** ***** publicly ******** *** ******.

****, * ****'* ***** * ***** * **** ****** **** 2 ***** *********** *****. *** *** *** *** ******** ** posters *** ******** **?

*... *** ** ***** ** *****.

*** ***** *** **** $*** ******* **** *** ************* ***** if *** **** ***** ** ****? ***'* **** *** ******* sheet.

****** ******* ******* $**** ** *** *** ********** ** *******

****** **** *** ** ****** **** *** ***-****** ******** ****. Time ** *** *** ****.......

********* ******* *** ***** ** ***** *** ********* *** * strain ** ***** ****** ******.

***** ***** **** ** ** **** ****** ** ****** ***** negative ******, **** **** **** ** ******* ** ***** ***** which **** *** * ****** ** *** ***** *** ***** risk ***** ******.

**** ***** *** *** *** **** ***** *******......

**** **** **** *** ** *** **** ** ******** ** be **********.

****** **** *** ** ****** **** *** ***-****** ******** ****. Time ** *** *** ****.......

*** '****** ****' ***** **** ** ** ** ** *** not ****** ***** **** ***** **** **** ********* ** **, like *** ********* ******** *** ** *****.

***** * ** ** ******* ** ******, ** *** *******, this ***** **** * *** **** **** ** *** ***** yard. ** ******** ***, *** ****** ****** *********, ******, *** for * ***** ****.

** *** *******, ** *** ****** ** *** *** ** something, *** ***** *** **** ** **** **** *****, *.*., it ***** *** ** ******** ** **** *** ******** ******** 'Hanwha *******' **** ******* ** *** **** *********** ***** *** 2 *******. ** ***** **** **** ** * ****** ** strength ** ** ****.

****: * *** ********** ****** **** ******** ** *** ********** the ******* *****, *** *** **** *-**-****.

-----

****** *** **** ******* ** **** ********* ******, ***** ** ********* ** ******* *************:

****** ******** ** ******** ** ** ********** ** ********** ** the ******** ****** ***** *** **************. “********* *** **** ***-**** businesses *** ******** ****** ******* **** ****** **** ********** *********,” said * ****** ******** **** *** *******.

*** ******** ***** **** *** ******* ** ******* * **** to ***** *** **** *** ******** ******** *****, *** **** would *** ****** *** **** ****.

*** ********** ** *** *** ****** ******* ******** ** ******** to ******'* ******* ********?

****** ******* ** ~$** *******,********* ** ******. ****** ******* ******** ** ** *** $*** ** $*** million ***** (*** **** ******* *********).

*** ************* ***** *** / **** *** ***** **.

** **** *** ****** ** *** ****** *****. * ** think **** *** ** ***** ******. ** **, ******* ******* always ****** ** ** ********* / ******* *** *** ******. I ** *** *** **** **** ******* **** ******. *** rep *** *********************** ***** *** *******. ** **, **** ***** ** ** a **** ***** ** ***** ****.

**** ********** ****** ** **** ***** ****** *** ******** ** Avigilon. **** *** ** *** ** *** *********** ****** ** Avigilon ** *** ********** ******.

*** *** ** *** ** **?

*******

******: * ********* **** ****** ******* ********** *** ********* ******. They *** **** *** ********** *** *** *** ****. *** statement ** **** *****:

*** ******* ** *** ******* ******* ** ** ***** *** security ******** ** ******* **** ************* *** ** **** ********** to *** ******. ***** *** ******* *********, *** ******** ******** did *** **** **** ** ****** **** *** ***** ******* companies; ******** *** ******** *** ****, *** *** ***** *** common ************, ********* ** ********** *******.

****** ******* ******** ** * ********** ******** **** *** ****** set ** ******** *** ******* ************ ** ***** ************. ****** has **** *********** *********** ** ******* ***** ** *** ******** business **** *** **** ** ****** ********* *************, ********** *** human *********. ** ******** **** $**** ** * ******* ******** in ***** ** ******** ********** *** ******* ******** **** **** effectively. ** ******** ** ****** ** *** **** ******** ********* optical ****** ********, ******** ****** *** *** ***********. *** ******** is ** ******** ** ****** ** ********** ***********, ************ *** expansion. ***** *** ** ***** ** **** *** ******** ******** and *** ***** *** ****** ******* ** ********* ****** ***** this ***, *********** ********** ******.

[**** ****: *** * ****** ********]

** *** ********, ****** ** ****** **** ****** *****. ***** are **** ** *** & ***** *** ***'* **** ** pay ** *** ****. **** *** ********* **** ***** ***** quality, *** * ***'* **** *** ********** ***** **** ********. Hopefully **** ***** **** *** ******** ** *** *** "****" changes ******** *** ****** *** ******* **** ******* ********

********* *** "****** ******" *******, *'* *** **** **** **** is **** ******** **** ****** ** **** *****. **** *** look ** ***** ** ****** **** ********** *** ****, ****** has **** ******* **** **** ******.

** * ***** ****, *'* ************ ******** ** ****** **** those ********* ** *** *********** *********** *******, **** ***** ************** analytics, *** *******, *** *.***. ***** *** ******* **** *** buyers ***** *******, *** **'** **** ******* **** ****** **** Axis *** * *** ***** ***. ** **** ** **** Axis ***** *** ** *** ******* *** *** * *** different *******, *** ** *** ***** ****** ******** ******* ******.

***** *** ******** ** **** **** ***** ** ******* ******* is ******, *** ** ***** **** *** ****** ** *** is "**** ********" ***'* ** *****.

**** *** ******** *** ** *** ***** ************** *********?

***, *** ***'* *** *** ******* - *** **** "*********" it ***** ** **** **** ** **** ** ****** ** on ** *** ******, *** **** ** * *** ** report **** ** *** ******* ******.

*** * *** * ****** **** **** *******. *** **** it ** ** ******** * ***, *** **** **** ******** you **** **** * ********* ** ****, *** ***'** ****.

*** *** ******** ***** **** **** ****, *** *** ******* is *** **** **********, *** *'* **** ** *** * have ** ********** **** *** ** ***** ******* ****** ** detect * **** ******* ** ***** ***********.

**** **** ****, **'** ******** * **** **** *** ******* with * ******** *********** **** *** ******* ***** **. :)

****: ***, **'** *****.

*** * ******* * ****** ******* ** **** *** ** far * ** **** ********* **** *** ***-****. ***** *** light ******* *** **** ** *** *** **** ** ** is ***** *** ****** *** ********** **** ** **** ** the *** ***. ******* *** ***** ********* ** **** ** my **** *** * **** * ****** ** ***** **** are ******* ** **** *** ******* *********.

*** ***** * *****'* ******* *** *** ** *** *** have *** ***** ********* ** *** ** *** **** *** audio ******.

*** **********. **'* * **** ****** *** ******, ********** ******** from *** *********.

***, ** ** ******** ** ******* **** ***** ********* **** without ********* *** ***** ****** ** **** ***** **** ** listen **, ******** ***** ** ****** ******* ** ** ***** event. *************, *** **-***** ********** *** **** ** **** ** both ******* *** ****** *****, *** **** ******* **** ** enabled ** ******* ****.

******* ***** ***!

****'* *********** ** ****. * **** ** *** * ** testing * ******* * ****** ****** ** ** ****** ***** now. *** ***** ******* ** **, **** ** *** ****** analytics **** ** **** **. ******* ***** ** ***** ** away. ** **** ***** **** * **** ******.

#**, **** ********, * ***** ***** *** * ****** **** - (*) ******* **** ** ******, *** (*) *** **** of **** ** ******.

** (*), * *** ********* *** *** ****** ** ******* Hanwha **** ****, *** **** ******** (********** ***-******), *** ******* is ******* *** **** *** ******'* ***** ** ****. ** that ***, ******* **** ****** **** **** ** ********.

*** ** (*), **** *** **** ** *** *** **** and **** ***** ** ********. *** *** *** ** ** head, ******** ***** ***, *** ******* ********* (*** ********* **), **** *****-*******, ****-**** ***, *** ******** ****** *******, ****** ** **** ************, *** line ** *********** *******,*** *** **** *******, ***., ***.

** *** * *** *******, ** ******** ***** ***** **** H.265 ** *** ******* '*****' *** ** * *** ******* Hanwha * ***** ********* *** **** ** * ***** ******* Axis. *** ******* *** *.*** *** ********, ** *.***'* **** barrier ** ******* (***** *** * ******* * **** *** for ******). ***** *** ***** ****** **** *** **** ********,***** ***** ************ ***** *.*** ** ***** ****** ** ******, *** *.*** is ****. ** **** **** *** **** *** *.*** ** 2018 **** **** **** * ********* *******.

****** ** ****** *** ***** ** ****.

****** *** * ***** ***** *** ****** **** *** **** more ******** ** *** ***-****** ****'* ********* *** ******* **** May. ** **** *** *** ****** ***** ** * ****** housing. *** *** **** ******* *** *************** **** *.*, *.*, 3.6 *** *** **** *******. **** ** $**** *** *** camera *** $** *** **** **** ******.

****** ***** *******

****'* ****! *** **** ************* ********* **** *** ******** ** better *** *** ********.

* **** ************ ** ** **** ******. * ****** * camera **** ** **** *********** *** ******** ******* **** ** XND ****** ******. * ****** ** **** **** * *** making *** ***** ******** *** ** ************. ***** **** - the ******* *** ****** ******* ** *** ****** *** ******** to *** **** ******. ***** *********** ** ***** ******, ***, Analytics, ***. ***** *** *** ***** ********, ***** **** ******* have. *** ********** ** **** ****** *** *** ******* ****** images **** *** ** *** **** ** ********* ******. ** configure *** ******* ** ****** *** ****** *** ******* ******* we ** *** **** *****. ** **** ** ******** **** 2fps ** *****. ** **** ****** ** **** ********* *** good ***** ** * ****** ****** *** ** ***** * images *** **** ********. ****** ***** ****** ***% *******...*** ** - **** ** ****.

* ** *** **** **** *** ****** ***** *** ******. All * *** ** ** **** **** **** ********** *** keep ***** **** ** **** **** **** **** *****.

***** ** - *'** **** ** *** ******** *** ** years. *'** **** *** ********** ****** ********** *** *****. **** is *** ***** ****** * ** ********* *****.

#*****

*** *** ****** ********, ****, *********** ** ****** ****** ** did *** ***** **** ** ********?

*** ******** ************** **** *****. ******** *** *****... *** *** all ******* ***** *** ** **** *** ********-***** *** ***. I ******** ** "****" ***** *** *** ******** *** **** sure ** ** * ******** ** *** ***** **** ** are *********. **** *** ********* ** * **** *** ****** space. **** * **** * **** *** ******** * **** chance ** *******. ** * ****'* **** ** **** *** true *******, *** **** **** ** *** ****.

* **** *** ******* ******** ***** ***** ****** * ******. I ** *** ****** *** **** *****. ******* *** **********. I **** ****** ********** ***** "********" ** "**********" ** ****** images ** ******* * ****** ***** *** ********** ****** *** captured ***** ******* **** ** * ***** ******.

* ******** *******, *** * ********* ** ******. * ** not **** ** ****** ******, * ** **** ********** ** opinion *** *** **** * ***** ****** *** **** ** a **** ****. * *****'* **** ********* ** *** **** my ******* ***** **** *** ******** ** *** *******.

* ****** *** ******* *******. ** *** ******* ***** ** a ********** **** ****** * ****** **** *******, **** ** out *** * **** ****. **** *** * **** ***** out. * ** *** **** *** ********** *** ******* **** tested **, ** *** * ********* *********** **** ****** ******** at *** ******** ** *** ******* **** ******* ******** ** entry ****** *** ****** *****. ** *** *** ********.

****** *** *** ****. ** ***** ** ******* ** **** both ***** ******* ** *** ******* *** ******.

*** *** ****. * *** * ************ **** ** *** User ******** *** **** ** *** *********** ** *** **** camera ** *** ******** ***** ****** * **** ** * new ******* ******, *** *** ****** ** **** *****. ***** out, *** **** *** * * ** ** **** *** M3204 ****** ** ****** $***, *** *** ******* ** * recent *** ***** ***, *** $***. *** *****, ** *** convinced ******* *** * *** ******** "*****" **** **** ******* of **** **********. * ***** *** ** ***** **** *****.

******** ** ** ** *** **** ******* ** **** **** and ******... ************* *** *******

*'* *******, ***** **** ****** **** *** ********* ** ***** Hanwha ******?

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