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

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.source: WSJ via SlashGear