LBS means Location Based Services
With LBS, it is about services that provide information about a user's current location. Often it is a smartphone with GPS that transmits its location (whether or not at the user's request), but often it also goes through the position of the GSM Zend Master. The idea is that a user himself indicates where he is (see also Foursquare) and thus gets information that is of interest to him at that time. Especially marketing people see a lot of added value here because they can try to get customers into the store.