Samsung is promising to build connectivity into everything it makes within the next five years.
The Korean tech giant is promising to sell only smart TVs by 2017 and to invest $100 million in developers this year to help grab a foothold in the surging Internet of Things (IoT) segment, according to Bloomberg.
The IoT market could be poised for explosive growth. IDC predicts the market for IoT solutions will be worth $7.1 trillion by 2020. As Samsung continues to bleed smartphone market share after dominating for so long, the company seems to be betting big on new opportunities with a new focus on connecting everything.
SmartThings, a connected home startup that Samsung bought in 2014, at CES Monday pushed out the next generation of its products and deepened third-party product integration. The company also introduced a new premium subscription service.
The new premium options include text or voice call notifications regarding problems in the home and built-in DVR for installed video cameras.
At CES this year Samsung rolled out new additions to its Milk streaming service including a VR video service to accompany the Gear VR headset. But the spotlight was mostly reserved for the company’s new UHD TVs.
Last week Samsung announced that it would be baking in its homegrown Tizen operating system into all its smart TVs. Tizen has so far showed up in the company’s smartwatches and but smartphones carrying the OS have been continually delayed.