Las Vegas, Jan. 6, 2015: Electronics giant Samsung, battling losses from its smartphone business, has announced it would invest over US $100m this year to encourage companies to develop services that will make homes more connected.
Delivering the keynote address at the CES 2015 show in Las Vegas on Monday, Samsung’s Chief Executive Officer (CEO) Boo-Keun-Yoon said all the company’s devices would be open to developers in the future. Mobile is the biggest business driver for Samsung but following a 60% drop in profit in its latest quarter, the company needs to do something drastic to improve its bottomline.
The company thus plans to plough millions of dollars into startups. Already, it has announced a tie-up with auto major BMW to exploit the trend with the car maker integrating Samsung’s Tablets into its connected car investments.
At the 2015 International Consumer Electronics Show, Samsung also announced the expansion of its Samsung Milk suite of entertainment services, including new platforms beyond mobile for Milk Music and Milk Video as well as the official debut of Milk VR (Virtual Reality).
Streaming services Milk Music and Milk Video will be available as a Samsung Smart TV app, bringing users’ customised music preferences and premium video content to the comfort of their own home. Samsung’s Milk Music TV app is available now while Samsung Milk Video TV app is coming this spring. Milk Music will also be available via Web player this quarter.
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Image Credit: Samsung
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