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Samsung Electronics will focus on Internet of Things (IoT) in 2015 as one of new growth engines along with business-to-business (B2B) sector, software contents and service platform.
Samsung chief executive Kwon Oh-hyun said in his New Year's remarks to employees that the company should actively push for a new business of the IoT, including smart health and smart home, to secure future competitive edge.
Kwon said the company should continue its growth of B2B business by creating new demand, stressing the need for stronger service platform to enhance the company's competitiveness of contents and services.
The IoT is a technology that links everyday things, such as mobile devices and home appliances, to the Internet. For example, you can start the engine of your car by handling smartphone buttons and can raise the temperature of your home by controlling the Internet-connected heater outside of your home.
It is expected to boost revenue of Samsung Electronics, which makes almost everything from mobile phones and televisions to washers and refrigerators.
Samsung, best known as the world's No.1 smartphone maker, saw its revenue fall sharply last year as smarphone sales reduced, partly on the rise of Chinese manufacturers armed with low-end models.
Samsung's global market share in smartphones declined 7.7 percentage points from a year earlier to 24.4 percent in the third quarter of 2014, according to IT information provider Gartner.
Combined market share of three major Chinese brands, including Huawei, Xiaomi and Lenovo, was 15.5 percent in the third quarter, up 4.1 percentage points from a year ago.
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