Days are not far away when we use to find robots contributing and working hand-to-hand with humans. Even leading humans in many places, as we saw futuristic applications of a robotic era depicted by several tech giants. Since robots are fastly emerging because of their vast usage in multiple domains. Now, reportedly, it is being observed that tech giants like Samsung Electronics and LG Electronics, are competing with each other for this next-generation tech artifact.
As per Han Jong-hee, the head of Samsung Electronics Device Experience (DX) division. As he speak on the occasion of the 54th Samsung Electronics regular shareholders’ meeting conducted on March 15.
“We will strengthen preemptive responses to the robot era that will begin in earnest in the future”
Noticeably, on the same day, Samsung Electronics made the purchase of 913,936 common shares of Rainbow Robotics. This is basically a KOSDAQ-listed company, that have their expertise in collaborative robots, at 30,400 won per share. While Samsung Electronics’ stake in Rainbow Robotics raised from 10.22 percent (1,940,200 shares) to 14.99 percent (2,854,136 shares). Thus, by seeing this move, industry analysts expect the possibility of Samsung Electronics’ acquisition of Rainbow Robotics.
Apparently, after Chairman Lee Jae-Yong’s statement in August 2021, the Korean giant tighten its control on the robot business. He disclosed that he will be going to invest 240 trillion won in the area of futuristic business over the next three years. Notably, in the same year, the robot commercialization task force was upgraded to a robot business team. Stepping ahead, in February, Samsung Research recruited a former software engineer manager of Nvidia as an executive.
LG Electronics robot share increase at a rapid pace
On the other hand, at the regular shareholders’ meeting, LG Electronics will add the telecom business to its business areas, targeting the development of an alliance with the robot business. Since 5G dedicated networks are used by companies to create separate frequencies in specific areas. While this can be used in order to link with advanced techs such as robots, AI, and cloud computing technologies.
Some experts also believe that LG Electronics will also bring a business solution that provides a 5G specialized network establish along with robots. Earlier, LG Electronics are tend to create robots by acquiring the management rights to Robostar in 2018. Further, in 2020, LG Electronics relocated the Robot Business Center to the Business Solution Division. This is intended to prepare for robot commercialization.
As per the stock market analysts, LG Electronics robot sales are predicted to approx double every year. That subsequently increased from 30 billion won in 2023 to drastically 130 billion won in 2025.