Samsung eye Metaverse as a new growth engine

TL;DR Breakdown

• The South Korean electronics firm Samsung plans to use Metaverse, AI, and robots to assist it in leading a transformational shift in its business.
• It will actively promote the advancement of robots and metaverse enterprises.
• Samsung is expected to release the Metaverse device soon.

Recently, Samsung has been under fire for various reasons, the most prominent ones being the drop in-app sales and stock prices. The South Korean electronics firm is now considering using Metaverse to help it recover.

The company’s decision to follow the metaverse route was revealed during a general meeting of shareholders earlier this month. A number of acquisitions and mergers will be made and the entrance into the area of artificial intelligence, 5G mobile telecom technology, and robot production.

Metaverse is a virtual world that exists on blockchain technology. It is often compared to the Matrix movies. Samsung plans to use Metaverse to create a virtual ecosystem in which it can promote the advancement of robots and metaverse enterprises.

Samsung announced the decision, noting that the “Game Optimizing Service” (GOS) issue had slowed down the workability of thousands of its gaming apps on Galaxy S22 phones, causing its stock price to plummet.

This would be a major shift for the South Korean company, as it would not only rely on physical products but also focus on virtual ones. It is expected that the Metaverse initiative will be released soon.

This move by Samsung could have a major impact on its business, as it would signal a shift towards a more digital and virtual future.

Samsung considers Metaverse, AI

According to Hankyung, the reason for Samsung’s share price drop is that the firm doesn’t have a new growth engine. Now, it’s time for Metaverse, AI, and robots to become the engine that propels Samsung’s business forward. This is an interesting move, as it would seem to indicate that it believes that the future lies in virtual realities and not physical products. Only time will tell if this proves to be a wise decision.

Since it acquired Harman Electronics, Samsung has not purchased any more firms, and there have been no comparisons between Samsung and its competitors. As a result, Vice Chairman Han decided to invest in Metaverse as a strategy to expand the firm at the shareholder meeting.

Robots person has frequently been regarded by the electronics elephantine as a caller maturation motor for the past two years, aside from Metaverse. At the end of 2020, Samsung created a task unit dedicated to robot commercialization. According to experts, the South Korean company will be the world’s apparent leader in consumer electronics for at least another decade. After a year of trying, this sector expects the company to begin significant operations in this area.

At the meeting, Vice President Han made it clear that it aspires to be a world-class robot technology company in several areas so that future generations of people may live with robots as “companions of life.”

The next-big trend: Metaverse

At the Mobile World Congress in Barcelona earlier in February, Samsung’s Vice Chairman Han said that Metaverse is gaining a lot of attention in business settings these days, so the firm will release a Metaverse product. He did not give any hints about a possible release date. However, it is expected that the device will be released soon. This move by Samsung could have a major impact on the global economy, as it would signal a shift towards a more digital and virtual future.