Samsung Invests Billions in IoT R&D

Samsung is not kidding around about IoT. Don’t believe ‘em? Well, they brought the $1.2 Billion to prove it.

In a recent announcement, Samsung Electronics Vice Chairman & CEO Dr. Oh-Hyun Kwon said the investment is in building the company’s vision for a Human-Centered IoT. The money will be spent over the next 4 years on U.S.-based IoT R&D and investments. It will be lead and guided by the Samsung Strategy and Innovation Center, Global Innovation Center and Samsung Research America. The news came from a Samsung forum in Washington, D.C. called “Internet of Things: Transforming the Future.”

“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 U.S.-centered IoT investments and R&D over the next 4 years,” said Kwon. “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.”

The event was part of Vision for Tomorrow, Samsung’s recently launched public affairs platform for cross-sector collaboration around issues affecting the policy dialogue in the U.S. and around the world.

“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.