Tech giant Samsung Electronics announced its plan to promote robotics and business in the Metaverse as a new growth business at its annual general meeting of shareholders.
The company decided to carry out mergers and acquisitions (M&A) in the areas of artificial intelligence (AI), fifth generation mobile communications (5G) and automotive electronic equipment.
The Galaxy S22’s Game Optimization Service (GOS) was assessed to have presented a clear vision of the future to satisfy shareholders who had become sensitive to the controversy and falling stock prices.
At a shareholders’ meeting held at the Suwon Convention Center on Wednesday, Samsung Electronics Vice Chairman Han Jung-hee said, “The first step in discovering new business is to make robots.” He added that the company will develop “optimized Metaverse devices and solutions so customers can experience Metaverse anytime, anywhere.”
Meanwhile, the market cited the lack of a new growth engine as the reason for Samsung’s weak share price.
Since there has been no news of mergers and acquisitions since the acquisition of Harman Electronics, there have also been valuations against competitors who have not yet caught up with the future, a point that led Han to choose robots and metaverses as a new business in the shareholder. meeting.
Robots are frequently cited as candidates for Samsung Electronics’ new growth engine. In the reorganization at the end of 2020, a robotics marketing task force was newly created. Late last year, he was promoted to Team Robot through an organizational restructuring. The industry expects Samsung Electronics to enter robotics in earnest after a year of testing.
Vice President Han stressed: “We will take the lead in assembling robotic technology in various fields so that future generations can experience the ‘partner of life’ robot.”
The Metaverse device is expected to launch soon. “Metaverse hardware is a hot topic these days, so look forward to it” during Mobile World Congress (MWC) 2022, the world’s largest mobile communications exhibition that took place in Barcelona, Spain late last month.
Commenting on the merger and acquisition plans, Han said, “There is no limit to the scope or scope of the business, and we are actively studying mergers and acquisitions in various areas that could become new growth engines, such as AI, 5G and the battlefield.
Regarding the possibility of withdrawing from the Russian market after the military operation in Ukraine, Vice President Han said: “Currently, we have stopped supplying products to Russia.”
It is worth noting that the decision was made due to the “Game Optimization Service” (GOS) issue, which slowed down the performance of thousands of gaming apps on Galaxy S22 smartphones and the company’s stock prices plummeted. they collapsed