Synopsis
Samsung Electronics has received approval from South Korea's antitrust regulator for its acquisition of Rainbow Robotics, reinforcing its commitment to diversifying its business and enhancing its robotics capabilities.Key Takeaways
- Samsung Electronics acquires Rainbow Robotics.
- Approved by Fair Trade Commission of South Korea.
- Samsung invested 86.8 billion won in 2023.
- Focus on developing intelligent humanoid robots.
- AI is central to Samsung's future strategy.
Seoul, March 5 (NationPress) The antitrust authority of South Korea has given the green light to Samsung Electronics for its acquisition of local robotics company Rainbow Robotics on Wednesday, as part of its strategy for business diversification.
This approval from the Fair Trade Commission (FTC) follows a two-month review period after the tech giant submitted the acquisition proposal.
The regulator indicated that it found minimal risk of a monopoly arising from this transaction, as reported by Yonhap news agency.
In December, Samsung Electronics announced plans to become the largest shareholder in Rainbow Robotics to enhance its capabilities in robotics technologies, including humanoid robots.
The company currently holds a 35 percent stake in Rainbow Robotics and invested 86.8 billion won (approximately US$59 million) in the startup earlier in 2023.
Rainbow Robotics was established in 2011 by researchers from the Korea Advanced Institute of Science & Technology (KAIST), known for creating the nation's first bipedal robot, Hubo.
Samsung Electronics anticipates that merging its artificial intelligence (AI) and software technologies with the robotics firm's specialized knowledge will expedite the creation of sophisticated, intelligent humanoid robots.
In a related note, Han Jong-hee, co-CEO and vice chairman of Samsung Electronics, expressed optimism regarding the company's performance for 2025, fueled by innovations driven by artificial intelligence.
He highlighted the importance of AI-powered solutions for growth, stating, "I believe that AI will act as a catalyst for recovery.” He emphasized that AI plays a crucial role in the future strategy of Samsung Electronics, focusing on the integration of smart technologies across its product ecosystem.
The SmartThings platform is central to this strategy, facilitating seamless connectivity among Samsung devices and establishing a unified, intelligent environment for homes and other settings.
"We offer a diverse range of mobile phones, home appliances, electronic components, and TVs. All of these are consumer goods," he mentioned. "Samsung is the only entity with such an extensive product portfolio. Connectivity is crucial."
