Samsung sees Metaverse as a future growth area: the report

Samsung’s South Korean tech-savvy look is seen as the main focus of metabersion and robotics as global technology giants seek new growth avenues for future bets. At the same time, Samsung wants to strengthen its portfolio through purchases in the artificial intelligence, 5G and automotive electronics sectors. Samsung unveiled its company’s long-term vision at a general meeting of shareholders this week to alleviate concerns about the lack of new growth engines that have weighed on its share price.

“We will be developing optimized metaverse devices and solutions that will help customers experience metaverse anytime, anywhere,” said Han Jong-hee, Samsung’s vice president and CEO, at a meeting at Suwon, the company’s headquarters.

Hankyung reported in South Korea that Samsung Electronics has announced that it intends to properly immerse its fingers in the metaverse as analysts begin to point to a lack of future growth engines as a reason for the company’s slow performance of shares. Some also said that Samsung has been reckless in preparing for the future compared to its competitors, as it has not sought significant purchases since 2016 since Harman, the US electronics maker, took over $ 8 billion (approximately Rs 60,640). million).

Han Jong-hee, vice president and CEO of Korean technology giant, told the Mobile World Congress in Barcelona earlier this year (via the Korea JoongAng Daily) that the emergence of metaberse projects has prompted the company to return to new hardware. Although Han Jong-hee made little contribution to speculation, he could team up with Samsung Meta and Microsoft to bet on the latest fascination with technology.

“Please wait for the launch [of the metaverse device]because we are working hard, ”said Han, who runs Samsung Electronics’ mobile communications and consumer electronics business.

That said, Han was very careful about the type of device he was making and when there would be no discussion about when it would be launched. “It’s important to raise product quality to the highest standards,” Han said eloquently.

Industry insiders expect the gadget to be a pair of smart glasses that support augmented reality, which in its biggest description is called a metaverse.

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