Samsung has announced plans to invest $1.2 billion (R18 billion) in so-called internet of things (IoT) techologies, reports Reuters.
“Tech companies around the world are looking to IoT technologies, which enables everyday objects such as mobile phones and vehicles to communicate with each other, as a new source of revenue as growth for mainstay products such as smartphones slows.”
“Samsung has been acquiring companies while developing new products and services in recent years in hopes that such efforts will eventually yield a new profit engine.”
In addition, the company announced the Information Technology Industry Council, a group that would help guide policymakers and prevent regulation that might hinder the ability of devices to talk to each other.
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