Foreign media reports, Samsung Electronics announced on Tuesday that the next four years will invest about 1.2 billion US dollars in the United States to develop the Internet of Things (iot) business.
Samsung said in a statement today that the investment will be made through its Silicon Valley subsidiaries, such as the Samsung Global Innovation Center, to develop IoT-related technologies and strengthen cooperation with other startups .
Currently, many technology companies are developing or focusing on Internet technologies, hoping this emerging technology can become a new source of revenue, as the mainstream products such as smartphones are increasingly saturated.
In recent years, Samsung has conducted several mergers and acquisitions, hoping to develop new products and services, and become the company's new engine of growth.
Samsung also announced today that it has partnered with Intel to set up the "All-American IoT Strategic Dialogue Alliance," devoted to solving IoT-related issues such as privacy protection and IoT regulation.
In addition, kim young-ky, head of Samsung's network equipment business, also said Samsung hopes to become the top three 5g technology vendors in the world by rapidly expanding into the U.S. and other markets.
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