What are next-generation technologies that Samsung Electronics focuses on as future growth engines after memory semiconductors and smartphones which are its current cash cows?
According to industry sources on August 3, Samsung Electronics introduced five core technologies that they have recently focused on along with their organization and activities in honor of this year’s 30th anniversary of its entry into Silicon Valley in the US in the August issue of the Samsung Newsletter' which was published earlier this month.
The Samsung Strategic Innovation Center (SSIC) in charge of investing and acquiring among Samsung’s Samsung Silicon Valley organizations selected the five key technology –- the internet of things (IoT), cloud and data storage, personal information security, smart machines and smart health care.
Among them, Samsung has already made a full-scale investment in the IoT by recognizing it as a necessary technology beyond a simple concept.
The cloud and data storage division is making profits by moving into Samsung Electronics's flagship semiconductor business.
In addition, Samsung's strategy is to take the lead in the next-generation IT sector by integrating personal security technologies in all areas of information with all of innovative technologies, and rapidly expanding the scope of the application of the smart machine and smart health care sectors.
"The five areas were selected through two questions of ‘What should Samsung do to be a pioneer instead of a follower," and "How do we invest to grow bigger as a big company?” said Chris Byrne, vice president of intellectual property strategy at the SSIC.
Samsung Next, another Silicon Valley organization that is actively engaging in mergers and acquisitions (M&As), recently set Samsung’s final goal to grow into a "comprehensive technology company" through investments in such areas.
"We still have a hardware-centered mindset at the heart of Samsung's approach to business," said Jacopo Lenzi, senior vice president of Samsung Next. "Our goal is to transform Samsung into a comprehensive technology company beyond a hardware manufacturer."