Samsung wishes to enter ‘Internet of Things’ (IoT) domain through ‘Artik’.
Samsung Electronics . has contributed significantly to IoT (Internet of Things). In August, the company revealed that they bought SmartThings, a startup focusing on smart homes, which will allow users to regulate their products and appliances through handheld electronic devices and other handsets. This endeavor by the company will help them push in the world to interlink ‘Internet of Things’ in their homes; this market has immense growth potential and Samsung is likely to embark on a new mission that will ensure growth in the times to come.
Young Sohn, the Chief Strategy Officer and President of the company, is looking forward to partnerships and investments in particular domain on a long-term perspective. The company wishes to introduce Artik when the IoT conference commences on Tuesday.
According to Samsung Galaxy the company “will reveal a major company milestone that will enable the new wave of groundbreaking IoT devices and services. The event will bring together industry leaders, entrepreneurs, developers, and emerging companies to discuss the future of IoT and its profound implications.” However many skeptics believe that the company has taken a major stride betting so much on Internet of Things. It has been estimated that almost more than $1 billion acquired through startups and funding since 2013.
Samsung has also vowed to come with products that are futuristic in nature that will be available as an open source platform and will be compatible with several products. The CEO of Samsung, Mr. Boo-Keun Yoon stated at a recent electronics show that almost 90% of the company’s products would be linked to an internet server by 2017. This actually means that the entire product category of the company in the coming five years will be connected to the Internet.
According to a recent study done by Gartner, the company claims that soon ‘Internet of Things’ will become the next big thing in the tech world. The company predicts that the number of IoT connected devices will increase to 26 billion in 2020. In 2009, it was said that only 900 million devices were connected to the internet. This, on its own, is a massive increase that will continue to grow in the upcoming times.
Samsung has been facing a decline in terms of its smartphone business where sales have dropped largely. The company is now trying alternative platforms to surge its business and, rightly so, the Internet of Things domain has great potential. Samsung stock might also boost through this endeavor.