Samsung Electronics being into multi-venture businesses seems continuously expand its wings into various other domains. As recently, the company bought a healthy number of stacks in Rainbow Robotics. It is a local humanoid robotics company, this stack is for the amount of 59 billion won ($47 million). The South Korean giant offers a glimpse into the South Korean tech giant’s robotics ambitions that are still under muffling.
Ahead of this month, Samsung opted for some 1.94 million shares of Rainbow Robotics. This is one of the handfuls of robot companies that have the capability to make bipedal human-like robots. And in this way, the Korean giant became the second-largest stack holder of the company.
Samsung’s co-CEO Han Jong hee perspective
While Samsung’s co-CEO Han Jong hee revealed this during a press conference conducted last week in Las Vegas. “We took over stakes of Rainbow Robotics. There’s nothing more than that.”
“It is true that robotics is one of our future growth drivers. EX1, a human assistant robot, will make its debut this year. We will share more details when we are ready,” he added.
Although the Samsung CEO denies putting too much focus on the recent stake purchase. At the same time, industry experts paying keen attention, since it is visible as a crucial step for Samsung. In order to secure an early edge in the germinal robotics market. An industry expert who is aware of the stake purchase has put their thoughts as:
“Beyond service robots on wheels, two-legged humanoid robots are considered the ultimate key growth drivers for tech companies. Samsung has taken a step to become the first mover.”
“Building robots from scratch is not easy, even for Samsung. Rather than burning cash in setting up the business on its own, it would be better to join hands with a well-established robotics company.”
Also, as added by some sources, Rainbow Robotics makes more than 90 percent of its robot components in-house. Therefore, it helps Samsung to make robots at a lower cost.
“Using its advanced technology, Rainbow Robotics is likely to produce robots specifically designed for Samsung – from service robots and four- or two-legged humanoids to home robots,” said Yang Seung-Yoon, an analyst at Eugene Securities.
Specifically, he pinned high hopes on the synergy between Rainbow Robotics’ sophisticated hardware technology and Samsung’s high level of software and artificial intelligence prowess.
“It may be too early to say, but Samsung-Rainbow Robotics could compete head-on with Hyundai Motor Group-Boston Dynamics. Their rivalry could help expand the industry and spur innovation,” he added.
Notably, in 2021, the South Korean carmaker acquired Boston Dynamics. It is well known for its four-legged robot dog “Spot.” This purchase is in the amount of 1 trillion won and consider to be a big push in the robotics business.
Samsung has not introduced any advanced robot products yet. While it has introduced housekeeping and service robot prototypes, also wearable robots that help disabled people.
On the other hand, sources say its collaboration with Rainbow Robotics predicted that the company comes up with robot launches soon.
Associating with Samsung, also give a response to Rainbow Robotics. As it is looking for an opportunity to grow in overseas markets. Starting this year, the company plans to make a foray into the US and Europe.
“Backed by Samsung, Rainbow Robotics is likely to receive positive feedback from foreign investors,” said Yang, the analyst.
