South Korea's top tech giant, Samsung Electronics Co., said Tuesday it plans to inject US$100 million into funding start-ups and developers of the Internet-of-Things (IoT) technologies, adding all Samsung products will be connected to the IoT network by 2020.
"The IoT is the source of infinite potential that can enrich livelihoods and protect people depending on their needs and situations, further changing society and the economy," said Yoon Boo-keun, who heads Samsung Electronics' consumer products unit, ahead of the Consumer Electronics Show (CES).
The IoT is a concept in which all tangible objects are connected to the Internet and can identify themselves to other devices to exchange necessary data for improved efficiency and convenience.
Yoon said Samsung will make investments in IoT developers to expand its ground in the world's most-watched tech sector, adding all Samsung TVs will be equipped with an IoT feature by 2017, eventually leading to all product lineups by 2020.
Samsung showcased a miniature sensor capable of detecting around 20 scents, as well as other power-efficient intelligent semiconductors, claiming that they will take crucial roles in rolling out IoT experiences.
Yoon also said the acquisition of SmartThings Inc., a U.S. IoT firm, by Samsung last year, came in line with its efforts to seek a broader connectivity among different platforms and devices, and that its products put priorities in "openness."
Samsung added it is seeking to enhance ties with Israel-based medical solution provider EarlySense, adding their technologies can be connected to Samsung products, and that such cooperation can spark "revolutionary changes" in the IoT sector. "The IoT will contribute to solving humanity's issues by expanding the scope of connection from home and cities, and to the globe," Yoon added. (Yonhap)
