Samsung Electronics' president and CEO, Boo-keun Yoon, will use its keynote address at the 2015 International CES event in Las Vegas next week to pull the curtains on company's Internet of Things (IoT) strategy.
A report published in the Korean press highlight the fact that the firm plans to tap into IoT to build a steady, growing revenue stream, supplementing falling margins and increasing competition in the smartphone and tablet market.
Yoon said in a statement that IoT is "is already shaping a new ecosystem within and outside of the tech industry, bringing infinite new opportunities. The convergence of technologies will accelerate, and collaborations will multiply to fill the needs of consumers." before adding "We at Samsung are committed to working with others to build the IoT".
The news piece also mentions that Samsung plans to set up a common platform for connected home applications in the short term, potentially moving in the business segment down the line.
Samsung acquired an IoT company called SmartThings back in August for $200 million, a fraction of what Google paid for Nest earlier this year.
IoT is not new; it's essentially what was called embedded but repackaged and wireless functionallity backed in.
Via Korea Times & Samsung Tomorrow
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