MENU

Samsung To Pour $1.2 Million Into IoT Research And Startups In US

Close

Samsung is determined to invest in the Internet of Things and has set its attention on the United States for that purpose.

Samsung Vice Chairman Oh-Hyun Kwon told the media about his company's plans for crafting and expanding the web-connected network of devices dubbed the Internet of Things (IoT).

The company's strategy is two-fold: first, the OEM will invest serious cash into R&D, and second, it will support U.S. policymakers in taking the best course of action.

Over a period of four years, Samsung will invest a whopping $1.2 billion into U.S. based research and development. The first stage will entail crafting systems that serve individual consumer needs, with a second phase where the technology will be expanded for larger social benefits.

Kwon exemplified the process by referring to nursing homes and healthcare systems.

Samsung announced that half of the hefty sum will go to finance IoT-related startups, while the other $600 million will support the company's U.S. facilities. The OEM already has a chip facility in Austin, Texas and the Innovation Center in Palo Alto, California.

One key element in the strategy is to persuade startups to use hardware built by Samsung, with a special interest in the components sector. The recent years showed that Samsung can be a reliable and massive supplier of chips, ranking second in global sales. As IoT is a chip-dependent industry, the company has a big interest in gaining a larger footprint.

In 2015, Samsung announced that it provides Artik chips for low-power IoT gadgets.

According to the president and chief strategy officer of Samsung Electronics, Young Sohn, the company "still has a lot to do" in the components area. He explains that Samsung is working on a novel chip architecture that will equip autonomous robots, such as drones and cars, so that the IoT hardware gets computer vision.

The company is no stranger to the IoT industry. During the Consumer Electronics Show this year and the last, the company touted the progress that it has registered in the field. Samsung is certain that by 2020 each of its devices will feature IoT-support.

The company announced its latest plans during the "Internet of Things - Transforming the Future Conference" in Washington D.C. on June 21. The event gathers technology companies, politicians and academics who are keen on promoting the benefits of this technology.

In Samsung's opinion, authorities could accelerate the adoption and support the penetration of the IoT technology.

"The government shouldn't be a late adopter," Sohn says.

Samsung is already working on rolling out a new OS for its IoT devices, and you can read all about it in our coverage.

See Now: 30 Gadgets And Tech Gifts For Father's Day 2018 That Dad Will Think Are Rad

© 2018 Tech Times, All rights reserved. Do not reproduce without permission.
Real Time Analytics