Samsung CEO to present IOT strategy at CES

Yoon Boo-keun Samsung Electronics CEO

By Kim Yoo-chul

Yoon Boo-keun, one of three CEOs at Samsung Electronics, will present the company's plans for new revenue streams mostly focused on the Internet of Things (IoT) at a technology exhibition in the United States.

Yoon will deliver a keynote speech at the 2015 International Consumer Electronics Show (ICES) in Las Vegas, which runs from Jan. 6 to Jan. 9, according to the company.

The top executive identified "possibilities" as the key word for his speech because Samsung will tap new business opportunities by making the most of its competitiveness in hardware manufacturing.

Yoon believes that IoT is the area that the company will be able to manage well as a means to ride over weakening margins in the smartphone segment.

IoT allows home appliances and all digital devices to be operated within the Web. For example, you can control fridges and cars byb clicking buttons on your smartphones or with the help of sensors.

"There is no doubt that IoT will lead the next wave of consumer technology, and Samsung is committed to contributing to this revolution and providing consumers with a variety of IoT experiences. Together with the entire industry, Samsung will continue to drive innovation and work together with others to realize the IoT era," Yoon said in a recent interview with the Consumer Electronics Association (CEA), the organizer for the annual ICES.

Yoon said that as a new order prevails in the tech industry with IoT leading the wave, daily life of ordinary people has been changing in a positive way.

"What’s unique with IoT is that it engages every facet of our daily lives. It reduces the time, cost and resources we will normally spend throughout a day," he said.

"Imagine, for instance, a driverless car that understands where and how fast you want to go. It will not only save you time and effort but also allow you to pursue other important things such as meaningful time with your family. Thanks to the IoT and the expanded value of things, we will be able to achieve more efficient and enjoyable lives."

The executive said Samsung will lead initiatives in an era of IoT by expanding overseas alliances and stressed the company will also take a crucial role in helping the industry establish a new standard and ecosystem.

"It is already shaping a new ecosystem within and outside of the tech industry, bringing infinite new opportunities. The convergence of technologies will accelerate, and collaborations will multiply to fill the needs of consumers. We at Samsung are committed to working with others to build the IoT," Yoon said.

Samsung recently dismantled its media solution center and its IoT business strategies will be managed by its offices in Silicon Valley, the United States.

Samsung plans to set up a common platform for connected home applications, which the company believes is a starting point to further power up its moves on IoT.

Samsung earlier bought U.S.-based IoT firm SmartThings for an estimated $200 million. SmartThings has patents in phone-oriented home device controllers.

"As more and more of these devices and appliances connect to one another, and with other objects, we will begin to see an even greater transformation. It’s what I’m most excited about ― the infinite possibilities that the IoT will bring to our daily lives," said Yoon.