Quectel plans to support customer companies in reducing costs and strengthening their competitiveness in the Korean IoT market by focusing on ODM and the supply of PCB-based finished products.

Quectel Technologies Korea held a press conference at the FKI Tower Conference Center in Yeouido, Seoul on the 14th.

At a press conference, Lee Sang-heon, CEO of Quectel Technologies Korea, presented trends in the domestic and international IoT (Internet of Things) market and the company's growth strategy, stating, "Korea is a market where smart meters and SDVs are spreading simultaneously, and the use of IoT is rapidly advancing across public infrastructure and industries." He added, "Quectel will stably support the diverse needs of Korean customers based on its end-to-end IoT solution capabilities."

CEO Lee stated, “IoT is more than just a technology that connects objects; it is an industry that innovatively transforms our daily lives,” adding that the IoT market is showing rapid growth due to the recent introduction of 5G networks.

Lee Sang-heonPyo stated, “As of 2024, global IoT device shipments reached approximately 470 million units, with a market size of $5.6 billion. In particular, in the cellular module sector, QuickTel holds a market share of about 50%, dominating its competitors. It also holds a market share of over 60% in the domestic market, and revenue, which was around 8 billion won in 2019, surpassed 100 billion won in 2025.”

CEO Lee stated, “The core of IoT technology is the evolution of connection methods,” adding, “Recently, low-cost and high-efficiency ‘LTE Cat-1bis’ technology is rapidly spreading. In Korea, the adoption of LTE Cat-1bis is active in smart meters and smart grids, recording an average annual growth rate of 14%.” On the other hand, it was predicted that while the adoption of 5G-based IoT modules is still slow due to the cost burden, it will accelerate with future technological advancements.

Another characteristic of the Korean IoT market is the spread of the ODM (Original Design Manufacturer) model.

In the past, companies directly developed module-based devices by hiring in-house engineers, but recently, there has been an increasing trend of importing finished products or PCBs and supplying them with just a brand name.

CEO Lee stated, “Aging population, rising wages, and a shortage of engineers are the background for the spread of ODM,” and explained that ODM has already become mainstream in developed countries such as Japan.


Following this, Sim Sang-woo, IKOTEK’s Asia-Pacific Sales Director, detailed the business activities of Quectel and IKOTEK in the Korean IoT market and their future sales strategies.

IKOTEK is a subsidiary of Quicktel and supplies ODM (Original Design Manufacturer) based IoT devices to global customers.

We provide not only standard ODM services but also end-to-end solutions, including flexible design, production, software management, and R&D tailored to customer needs.

We specialize in the development of IoT devices in the form of finished products and PCBs, and have built a diverse portfolio centered on network-connected devices.>
The key to ODM is rapid market entry, cost reduction, and minimization of technical risks.

Based on a specialized R&D team, state-of-the-art equipment, and project management capabilities, IKOTEK minimizes development delays through close communication with customers and actively responds to market changes through efficient design and supply chain management starting from the design phase.

Despite recent component supply issues such as memory shortages, we are continuing to maintain a stable supply by cooperating with various vendors.

In addition to ODM, IKOTEK operates various cooperation models such as JDM (Joint Development & Production) and EMS (Manufacturing Services).

ODM handles design, development, and production exclusively according to customer requirements, while JDM combines the customer's software or design capabilities for joint development.

EMS manufactures products designed by customers and provides consulting when necessary.

In particular, during the early stages of a project, we closely analyze the customer's business performance and requirements to propose optimal parts and solutions.

Technical support is being strengthened, including the selection of cellular chipsets (Qualcomm, MediaTek, etc.) and operating systems (Android, RTOS, etc.), smart network installation, battery management, and certification services.

Based on our experience in responding to global certifications and regulations, we also provide customized guidance and certification agency services to domestic and international customers.

IKOTEK's core product lines include smart meters, asset trackers, networking terminals (CPE, FWA routers), industrial PDAs and payment terminals, and AIoT devices.

In particular, smart meter businesses in cooperation with domestic power companies, various asset trackers for shared kickboards, vehicles, pets, luggage, etc., FWA terminals for areas with poor communication, and at department stores and retailersIt is expanding its market share in applications such as PDAs and POS terminals.

FWA terminals supplied to Japanese telecommunications companies have also proven their global competitiveness, with over 1 million units sold.

Security is a key issue in the IoT market.

IKOTEK and Quicktel are collaborating with U.S. cybersecurity companies to strengthen product security testing and are providing stable services in the U.S. market.

We are actively responding to global issues such as the U.S.-China trade dispute, expanding customer choices by utilizing various chipsets (Qualcomm, MediaTek, UniSOC, ASR, etc.), and securing price competitiveness.

In the Korean IoT market, Quicktel and IKOTEK plan to support customer companies in reducing costs and strengthening their competitiveness by focusing on the supply of finished products based on ODM and PCB.

In response to changes in the market environment, such as an aging population, a shortage of engineering personnel, and fluctuations in exchange rates and parts prices, we provide cost savings by leveraging our mass production buying power and offer various service options.

In the smart meter business, the company plans to maintain and expand its market share by cooperating with major customers such as KEPCO and through partnerships with telecommunications companies and vendors.

In new technology fields such as AIoT, the company plans to develop products and expand services tailored to market needs, and aims for continuous growth in domestic and international markets based on its global certification and security capabilities.