News: South Korean firm has co-founded a national IoT strategy with Intel to shape US regulation on IoT.
Samsung Electronics is planning to invest $1.2bn in the US over the next 4 years in Internet of Things (IoT).
The announcement was made at a Samsung-hosted forum in Washington, D.C. Samsung’s research and innovation centres will lead the investment, with a focus on human-centered approach.
The funds would be divided equally between internal R&D as well as investments in other startups.
Samsung Electronics vice chairman and CEO Oh-Hyun Kwon said the investment will move IoT to the centre of the company’s strategy, and will focus on using connected devices for the benefit of society.
Kwon said: "Today, IoT is changing individual lives – helping people to age in their own homes. But tomorrow, using IoT, we can give the same independence to millions of Americans.
"We can keep people out of hospitals and nursing homes. As our populations live longer, these benefits and cost savings for society cannot be ignored."
Samsung pledged to work collaboratively with industry and the US Government to bring IoT to scale and enhance quality of life for people everywhere.
Separately, Samsung and Intel have launched a tech initiative in the US to develop recommendations for a national IoT strategy.
The companies established the National IoT Strategy Dialogue, an initiative under which industry partners and organisations will work together to develop strategic recommendations for US policy makers on IoT.
The initiative will feature Information Technology Industry Council member companies as well as other industry stakeholders.
Samsung has been increasing its focus on IoT, which could serve as a major platform for the sales of its chips.
Earlier this year, the South Korean company beefed up its IoT monopoly with a series of new products and partnership announcements at CES 2016.
Samsung expanded its 30-year-old collaboration with Microsoft, which has mostly focused on its laptops and tablets, to the wider IoT ecosystem.