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Samsung joins the list of corporations doubling down upon IoT with $1.2Bn worth of planned US investment

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Samsung Incorporated is the latest mega enterprise that is again proving as to how serious it is on the Internet of things niche. The company unveiled a brand new strategy today, according to which, it will be making a mega investment of $1.2 Billion in a Research and Development for a human centred iOT system.

While half of this $1.2 billion investment will go towards boosting US based IoT-related startups, the other half will be used to further develop technology for the market coming out of its US facilitie. The latter includes chip fabrication unit in Austin, Texas and a Strategy and Innovation Center in Palo Alto, California.

In a speech that was part of a Samsung-hosted  event titled Internet of Things: Transforming the Future, Samsung’s CEO Dr. Oh-Hyun Kwon said,

I am excited to show how we are moving IoT to the center of our strategy and am delighted to announce that Samsung is planning to spend $1.2 Billion in US-centered IoT investments and R&D over the next 4 years.

The investment would be made in the US market and will take into account the ever growing number of connected devices. While $1.2 Billion sounds huge on the surface, the amount pales in comparison to the sheer number of devices mushrooming around the connected ecosystem — from smart umbrellas to intelligent toasters, the playing field besides being the thing of the future, is extremely vast.

Speaking on the topic, Dr. Kwon also said that,

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.

Adding that laws and regulations should be carefully formulated since, sector-specific regulations would fragment the development of IoT and impede devices and platforms from connecting to each other.

The event also saw the announcement of a National IoT Strategy, that will be formulated by the Information Technology Industry Council (ITI) as a tool to inform policy makers on enabling the technology to deliver benefits for individuals, communities, innovators and the U.S. economy. Samsung is playing a key role in the dialogue as a Co-founder of the National iOT strategy.

Samsung’s entry into the field is not surprising. In fact, given that it is one of the largest electronics manufacturers in the world, what is actually surprising is the fact that it took so long to take a concrete step in the direction. However, now that it has been taken, we expect Samsung, with the vast experience it has in electronics, to make rapid progress in the field.

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