A good news to IoT evangelists across the globe. It was on this Tuesday, Samsung announced it is ready to invest around $1.2 billion in US market– over the next five years for Internet of Things (IoT). Samsung said funds would be split between internal research and the development of other startups.
The South Korean electronics giant refused to reveal more on their plans. Anyhow, one thing is certain – All these investments will be carried through Samsung’s Silicon Valley arms like Samsung Global Innovation Center. It’s also clear that Samsung is focusing more on developing relevant technologies that favor IoT evolution, also strengthening the cooperation between startups.
In the last few years, the tech world is polishing its face to aid IoT technologies. Samsung is also a part of this change. They’ve acquired a number of new IoT related startups in recent years. Hope, these efforts will bring bright results in the field.
Samsung concludes this talk by mentioning their new partnership with Intel to form the National IoT Strategy Dialogue, an organization to discuss various IoT related issues such as privacy protection and regulation on IoT policies.
But, there’s also a rumor that Samsung is trying to compete with Intel and Qualcomm to create chips that can be included in gadgets to make them IoT-enabled. Anyhow, by IDC’s prediction, global internet of things market will reach $1.7 trillion around 2020.
Samsung is still world’s leading producer of smartphones and televisions. This IoT hunt may be considered as Samsung’s pursuit for seeking new lucrative as well as futuristic markets.
A tech geek who wants to own and write about the coolest gadgets