As per the general shareholder’s meeting, Samsung Electronics revealed plans to make the metaverse more accessible by developing innovative devices. One of the key reasons Samsung is developing it is that they see it as a new business model, according to South Korean media outlet Hankyung.
Han Jong-hee, the vice chairman of Samsung Electronics, noted:
“We will develop optimized metaverse devices and solutions so that customers can experience Metaverse anytime, anywhere.”
He added that the first step entailed discovering new opportunities in the robot business.
Based on the company’s plunging stock price, Samsung sees the metaverse and robots as the new growth engines.
Furthermore, the electronics giant prioritizes mergers and acquisitions in other areas aswell. They have invested in areas like automotive electronic equipment, fifth-generation (5G) mobile communication, and artificial intelligence (AI) to revamp their revenue. The last Samsung acquisition was that of electronics firm Harman.
The release of metaverse devices might be on the horizon based on sentiments shared by Han Jong-hee during last month’s Mobile World Congress (MWC) 2022 held in Barcelona, Spain. He stated:
The metaverse platform device is a hot topic these days, so please look forward to it.”
Why Brands Like Samsung Electronics is investing in the Metaverse?
The metaverse is gaining traction because more brands continue joining this space. Brands find that it involves shared virtual worlds made more lifelike using technologies like augmented and virtual reality.
For instance, McLaren Automotive recently entered the metaverse. The reason they customers a new level of experience where they can mint and sell non-fungible tokens (NFTs).
Moreover, by entering the metaverse arena, users would have the chance to own McLaren-branded products irrespective of whether they can afford an automobile from the company or not.
Meanwhile, Samsung continues to be involved in the crypto space. Its flagship phone, Galaxy S22 Ultra, is equipped with a crypto wallet, enabling users to store ID documentation and keys in digital format, Blockchain.News reported.
