XPE General Topics, page-3098

SAMSUNG flexing its IOT muscle.


On Tuesday, the South Korean electronics giant announced it would be investing $1.2 billion into the United States specifically around the Internet of Things market.

Half of this $1.2 billion investment will go towards investing in US IoT-related startups. The other half will be used to further develop technology for the market coming out of its US facilities, which include a massive $14 billion chip fab in Austin, Texas and its Strategy and Innovation Center in Palo Alto, California.
Many of Samsung’s startup investments are designed to get these companies using Samsung’s technology, especially in its components business. In recent years, Samsung has emerged as a giant chip supplier — number two by sales in the world  – and IoT is a big part of the future of that business. Last year, it announced its Artik chips designed for low-power IoT devices.


Samsung is planning to make this announcement at its inaugural “Internet of Things – Transforming the Future Conference” being held in Washington DC Tuesday morning. The Samsung-driven event brings together a bunch of companies in the industry as well as academics and politicians to promote the benefits of this technology.