HomeInternet of Things (IoT)Samsung investing $1.2 billion in internet of things

Samsung investing $1.2 billion in internet of things

Samsung CEO describes vision of ‘human-centered’ internet of things

Samsung Vice Chairman and CEO Oh-Hyun Kwon today announced the Korean technology giant will invest $1.2 billion over the next four years in U.S-based internet of things-related research, development and investments.

During an event in Washington D.C., Kwon laid out the strategy, which will be jointly overseen by the company’s Strategy and Innovation Center, Global Innovation Center and Samsung Research America.

“I am excited to show how we are moving IoT to the center of our strategy and am delighted to announced that Samsung is planning to spend $1.2 billion in U.S.-centered IoT investment and R&D over the next four years. At Samsung, putting people at the center of everything we do is our highest value. The same must be true for IoT if we want to realize its full transformative power. Today, IoT is changing individual lives – helping people to age in their own homes. But tomorrow, using IoT, we can give the same independence to millions of Americans.  We can keep people out of hospitals and nursing homes.  As our populations live longer, these benefits and cost savings for society cannot be ignored.”

Exploring the idea of “human-centered,” Kwon stressed collaboration and open development ecosystems. “If we want innovators everywhere to make use of IoT, we must make sure all tools are open to them. This means technologies that connect to each other, because we know that boundaries around technologies hold back innovation and scale,” he said.




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