Lockin Company, First WinBack and Renewal Orders “2016 Will Be the First Year of Growth”

2016.03.03.

Mobile security specialist Lockin Company (CEO Myoung Kyu Choi, www.lockincomp.com) announced on the 3rd that it has succeeded in WinBack, which replaces third-party products with its own products, in renewing contracts following last year, and in winning new orders from large domestic companies.

In addition, it explained that its mobile app security solution business is on track, with sales occurring evenly across renewals of existing contracts, new orders, and WinBack cases. Lockin Company decided to make 2016 the first year of growth, expanding its product lineup and strengthening its sales activities as the mobile app market continues to grow rapidly this year.

First, the first winback case since its establishment occurred early this year. In the process of Lockin Company actively responding to more than 10 security inquiries per day, a famous domestic SNS company replaced its existing solution with Lockin Company’s ‘LIAPP (LOCKIN APP PROTECTOR)’. The company explained that this improved technical support and security service issues. This winback case was recorded as the first case of a winback of an existing obfuscation-based mobile security solution based on the advantage of LIAPP, which encrypts the entire source code. In particular, Lockin Company recently decided to compensate up to 100 million won in damages in case of problems caused by hacking, which is the first among recent mobile security companies, thereby increasing customer satisfaction.

The company that first used Reapp after developing LIAPP in September 2014 also started receiving renewal orders for renewing its sales contract last year. The domestic game company that first introduced Reapp in January of last year completed a renewal contract early this month after the one-year contract period ended. Unlike the industry practice of only providing basic maintenance for a small amount without renewing the contract after the one-year contract period ends, this company received a new renewal contract instead of a maintenance contract. Lockin Company plans to generate new renewal sales like this case through active promotion as the one-year contract expiration period of existing customers who signed contracts last year approaches.

In addition, Lockin Company succeeded in supplying Reapp to general companies as well as existing public and financial institutions. Earlier this month, Lockin Company completed three Reapp contracts targeting large companies entering the O2O (Online to Offline) business. The existing PC security market is conducted at the very end of the SI business, and orders are usually concentrated at the end of the year, but the mobile security market has been bustling since the beginning of the year due to the interest in O2O businesses that conduct business through mobile apps. In fact, as cases of actual financial damage such as hacking of financial apps and theft of mobile game items have increased, inquiries about mobile app protection solutions have also increased noticeably.

Choi Myoung Kyu, CEO of Lockin Company, said, “In the mobile app security market that has not even been around for 5 years, we are focusing on preempting the market through aggressive marketing and sales strategies, such as successfully achieving a win-back based on strong security functions and stability,” and “This year will be the first year of growth by harmoniously achieving quantitative growth through continuous product orders and qualitative growth by supplying products that customers want in a timely manner.”