This paper describes our conceptual framework of closed-loop lifecycle information sharing for product-service in the Internet of Things (IoT). The framework is based on the ontology model of product-service and a type of IoT message standard, Open Messaging Interface (O-MI) and Open Data Format (O-DF), which ensures data communication. (1) Background: Based on an existing product lifecycle management (PLM) methodology, we enhanced the ontology model for the purpose of integrating efficiently the product-service ontology model that was newly developed; (2) Methods: The IoT message transfer layer is vertically integrated into a semantic knowledge framework inside which a Semantic Info-Node Agent (SINA) uses the message format as a common protocol of product-service lifecycle data transfer; (3) Results: The product-service ontology model facilitates information retrieval and knowledge extraction during the product lifecycle, while making more information available for the sake of service business creation. The vertical integration of IoT message transfer, encompassing all semantic layers, helps achieve a more flexible and modular approach to knowledge sharing in an IoT environment; (4) Contribution: A semantic data annotation applied to IoT can contribute to enhancing collected data types, which entails a richer knowledge extraction. The ontology-based PLM model enables as well the horizontal integration of heterogeneous PLM data while breaking traditional vertical information silos; (5) Conclusion: The framework was applied to a fictive case study with an electric car service for the purpose of demonstration. For the purpose of demonstrating the feasibility of the approach, the semantic model is implemented in Sesame APIs, which play the role of an Internet-connected Resource Description Framework (RDF) database.