Home
News
You are here

Shin: Samsung on the cusp of announcing the acquisition of a mobile-related tech firm

By Alan Friedman

Published: May 04, 2012, 1:11 PM

21comments

Samsung

New features for smartphones like Smart Stay can come from M&A

As part of a bigger shopping list containing specialist software and R&D firms, Samsung is about to announce the acquisition of a mobile-related tech firm. That comes directly from Samsung Mobile president J.K. Shin who opened up to the Wall Street Journal. While Shin confessed that an acquisition is in the works, he also said that Samsung had no plans to buy ailing handset manufacturer RIM. Rumors of such a deal had been making the rounds. Shin did say that the company is looking at several software firms.

While Shin would not name the target company that Samsung is close to purchasing, he made a point of discussing the new Smart Stay function on the just unwrapped Samsung Galaxy S III as an example of what these acquisitions can lead to. The Smart Stay function uses the front-facing camera on the Samsung Galaxy S III to see if you are looking at the screen so that the display won't time out.

Shin didn't give any precise date when the deal would be announced although it is believed to be imminent. Samsung is now the world's leading smartphone manufacturer and Shin's mobile division accounted for 75% of the Korean company's $4.5 billion profit in the first quarter.

"The technology industry is growing very quickly and it is too much of a burden to try to do everything in-house. There are many qualified workers from India that are very skilled in software. And there are small companies that we can acquire that have good research and development capabilities … If the opportunity allows, we will do [mergers & acquisitions].-Samsung Mobile president J.K. Shin

source: WSJ via SlashGear

Secure your connection now at a bargain price!

We may earn a commission if you make a purchase

Check Out The Offer

View Full Bio

Alan, an ardent smartphone enthusiast and a veteran writer at PhoneArena since 2009, has witnessed and chronicled the transformative years of mobile technology. Owning iconic phones from the original iPhone to the iPhone 15 Pro Max, he has seen smartphones evolve into a global phenomenon. Beyond smartphones, Alan has covered the emergence of tablets, smartwatches, and smart speakers.

Read the latest from Alan Friedman