HONG KONG — In less than five years, Lightning International Holdings Limited has emerged from a small, specialized ODM service provider to a global technology group reshaping the smart Internet of Things (IoT) and shared economy industries across more than 100 countries.
The Hong Kong–headquartered company, founded in May 2020, exemplifies a new generation of agile, innovation-driven Asian firms that have capitalized on the rising demand for connected devices, shared infrastructure, and sustainable energy solutions.
With its growing portfolio of ODM services, smart IoT (also referred to as AIoT), and shared smart scenario services, Lightning International is rapidly becoming a significant player not only in Asia but on the global stage — catering to more than 500 renowned brands.
This article explores the journey, products, strategy, and challenges of Lightning International, and what its rise reveals about the shifting dynamics of the technology and finance sectors in the post-pandemic era.
When Lightning International Holdings Limited was incorporated in May 2020, few outside the ODM (Original Design Manufacturing) and IoT circles noticed. At the time, the world was grappling with the economic fallout of the COVID-19 pandemic, and the technology industry itself was experiencing supply chain disruptions and declining confidence in global trade.
But within the company’s headquarters in Hong Kong, its leadership had a clear vision: to position itself at the intersection of shared economy services, IoT, and sustainable energy — three sectors expected to define the next decade of innovation and investment.
Initially, Lightning focused on providing ODM services — manufacturing and designing smart hardware for companies that marketed the products under their own brands. Its early projects revolved around shared devices, such as mobile power banks, massage chairs, and scooters that became common in airports, malls, and urban centers.
“ODM was our way in,” CEO Usui, Ben Jamin Yoshiharu, who took the helm in 2022, said in an interview at the company’s Mong Kok office. “But our vision was always broader. We saw the convergence of IoT, AI, and the shared economy as a space where we could lead innovation — not just follow.”
The Shared IoT Opportunity
The term shared IoT refers to the use of smart, internet-connected devices that can be accessed by multiple users — usually on a pay-per-use basis — and which collect data to optimize user experience and efficiency. Examples include electric scooters, rental bicycles, shared umbrellas, and mobile charging stations.
According to Statista, the global IoT market is projected to exceed $1.6 trillion by 2025, with the shared services segment experiencing some of the fastest growth.
Lightning International quickly capitalized on this opportunity by building not only the hardware but also the software and data analytics capabilities required for shared IoT services.
Among its best-known products and services today are:
- Smart mobile power banks
- Shared smart massage chairs
- Shared bicycles and scooters
- Shared umbrellas
- Data-driven platforms to manage these devices and analyze usage patterns
By integrating artificial intelligence into its IoT solutions — a concept known as AIoT — the company claims it can help operators improve uptime, reduce maintenance costs, and offer more personalized user experiences.
“Our approach is holistic,” says Usui. “We don’t just sell hardware; we deliver an entire ecosystem that allows our clients to monetize their investments while making life easier for end users.”
Global Footprint and Subsidiaries
One of the most remarkable aspects of Lightning International’s growth is its global reach in such a short time. The company now operates in over 100 countries and serves more than 500 brands — a feat that larger and older competitors often struggle to achieve.
Part of this success comes from its network of subsidiaries, which include:
- Lightning Innovation (Vietnam) Co., Ltd.
- Shenzhen Souchong Sharing Industrial Co., Ltd.
- Zhuman Technology Co., Ltd.
- ChargeEight Power LLC (US)
- Electronics Power (India) Limited
- G&L INT’L Business Limited
These subsidiaries allow Lightning to access talent pools, manufacturing hubs, and customer bases across Asia, North America, and beyond.
In Vietnam and India, the company benefits from lower manufacturing costs and proximity to emerging markets. Its operations in Shenzhen, China, tap into one of the world’s most advanced electronics manufacturing ecosystems. Meanwhile, its US and Hong Kong offices enable it to maintain strong relationships with Western partners and investors.
Financial Performance and Market Strategy
Although Lightning International does not publicly disclose its financial statements — being a privately held company — industry analysts estimate its annual revenues are already in the hundreds of millions of dollars.
What sets Lightning apart from many other players in the field is its dual positioning as both a technology and a finance-oriented company. It not only develops and sells technology but also helps clients finance their shared device fleets, thereby lowering the barrier to entry.
Its partnerships often involve revenue-sharing models, where Lightning provides the hardware and back-end support, and the client operates the service on the ground.
“This flexibility is very attractive to customers,” says Michael Chan, a technology analyst at Hong Kong’s Cyberport. “Many businesses want to enter the shared economy but lack the capital or expertise to deploy at scale. Lightning bridges that gap.”
Despite its impressive growth, Lightning International faces significant challenges.
The shared economy and IoT sectors are becoming increasingly crowded, with competitors ranging from Silicon Valley startups to Chinese giants like Xiaomi and Huawei. Moreover, regulatory scrutiny of data privacy and urban clutter — particularly around shared mobility devices — is rising worldwide.
There are also geopolitical risks. As a company with ties to China, Lightning must navigate complex trade relationships, especially in markets like the United States and India, where technology from Chinese-linked firms often faces heightened scrutiny.
Supply chain disruptions, a lingering impact of the pandemic and ongoing geopolitical tensions, also threaten its manufacturing operations and costs.
CEO Usui acknowledges these hurdles but remains optimistic: “Every disruptive company faces resistance. We believe that by staying true to our principles of innovation, quality, and partnership, we can weather these storms.”
Since taking over as CEO in 2022, Usui, Ben Jamin Yoshiharu has been credited with steering the company toward a more global and forward-thinking strategy.
An advocate of flat organizational structures and cross-border collaboration, Usui emphasizes empowering teams to make decisions quickly and adapt to changing circumstances.
Under his leadership, the company has invested heavily in R&D, opening innovation centers in Shenzhen and Hong Kong. It has also launched training programs for employees to keep pace with advances in AI, data analytics, and sustainability practices.
“Our people are our greatest asset,” Usui says. “We hire not just for skills but for vision and drive.”
Looking ahead, Lightning International plans to expand further into the new energy sector — developing products that not only enable shared mobility but also contribute to reducing carbon emissions.
Some of its ongoing projects include solar-powered charging stations, energy-efficient IoT devices, and battery recycling programs.
As cities around the world embrace smart city initiatives, the demand for intelligent, sustainable shared infrastructure is expected to grow — and Lightning aims to be at the forefront of that movement.
“We see ourselves as partners in building the cities of the future,” Usui says. “Cities where technology serves people, not the other way around.”
Lessons from Lightning
The story of Lightning International Holdings Limited offers several lessons for aspiring entrepreneurs and established businesses alike:
- Agility is key: entering a niche market (ODM) can open doors to larger opportunities.
- Global vision from the start helps companies build resilience and diversify risks.
- Combining technology with innovative financial models can unlock new markets.
- Investing in people and R&D sustains growth amid intense competition.
As the world moves deeper into the era of connectivity and sustainability, companies like Lightning demonstrate that even in a crowded, fast-moving field, there is room for bold ideas, executed well.
Lightning International Holdings has carved out an impressive niche in just a few years. Whether it can sustain its growth and navigate the geopolitical and regulatory headwinds remains to be seen. But if its past is any indication, Lightning seems well positioned to shine even brighter in the years to come.
