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Samsung is taking a deeper dive into the Internet of Things pool with Tuesday's announcement that it is investing $1.2 billion in the US over the next four years.
The money will be divvied up equally between internal IoT R&D and investments in startups. With the announcement, Samsung Electronics Co. Ltd. (Korea: SEC) showed it's more open to partnerships and strategic investments that it has been in the past.
In making the announcement, Samsung Electronics Vice Chairman and CEO Dr. Oh-Hyun Kwon said his company was taking a "human-centered" approach to IoT.
"At Samsung, putting people at the center of everything we do is our highest value," said Kwon. "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."
While Samsung has big aspirations for IoT, it will need to ramp up its software and integration efforts in order to reach its goals.
— Mike Robuck, Editor, Telco Transformation
