Samsung Views Metaverse as an Area of Future Growth: Report
South Korean tech juggernaut Samsung is eyeing the metaverse and robotics as key areas of focus as the global tech giant hunts for fresh growth avenues for future bets. Simultaneously, Samsung is also looking to strengthen its portfolio through acquisitions in artificial intelligence, 5G, and automotive electronics sectors. Samsung unveiled its long-term company vision this week at a general shareholders' meeting to alleviate concerns of a lack of fresh growth engines that has been weighing on its share price. [1]
Figure 1. Samsung Views Metaverse as an Area of Future Growth: Report
Figure 1 shows at a conference in Suwon, Samsung’s headquarters, Samsung’s Vice Chairman and Co-CEO Han Jung-hee said, “Metaverse optimized for customers to experience the Metaverse anytime, anywhere. Develop devices and solutions. “
As South Korean news agency Hankyung reported, Samsung Electronics says it plans to step into the Metaverse appropriately as analysts have begun to identify the lack of a future growth engine as the reason for the company’s stock price slump. Spread. Samsung has been unprepared compared to its competitors as it hasn’t sought a significant acquisition since 2016, when Samsung acquired U.S. electronic system maker Harman for $ 8 billion (about 60,640 rupees). Some even say that. crawl). [2]
The Korean tech giant’s Vice Chairman and CEO Han Jong-hee made it known at Mobile World Congress in Barcelona, earlier this year (via Korea JoongAng Daily), that the onset of metaverse projects has nudged the company to get back into making new hardware. While Han Jong-hee provided very little input to speculate on, Samsung could be joining Meta and Microsoft in betting big on tech’s newest fascination.
“Please look forward to the launch [of the metaverse device], since we are working hard,” said Han, who heads both the mobile communication and consumer electronics businesses at Samsung Electronics. [3]
That said, Han was careful to avoid any talk around the type of the device being made and when it will be launched. “It is important to raise the quality of product to the highest standards,” Han said evasively.
Industry insiders expect the gadget to be a pair of smart glasses supporting augmented reality, which in its grandest description is now called the metaverse. [4]
References:
- https://gadgets360.com/cryptocurrency/news/samsung-metaverse-mixed-reality-stock-price-2829046
- https://www.anandmarket.in/samsung-views-metaverse-as-an-area-of-future-growth-report/
- https://newslogic.in/tech-news/samsung-views-metaverse-as-an-area-of-future-growth-report/
- https://jkstudentupdate.in/2022/03/samsung-views-metaverse-as-an-area-of-future-growth-report.html
Cite this article:
Thanusri swetha J (2022), Samsung Views Metaverse as an Area of Future Growth: Report, Anatechmaz, pp. 181