Home News Samsung Executives Discuss Investing In 6G, AI And Blockchain Technology

Samsung Executives Discuss Investing In 6G, AI And Blockchain Technology

samsung

We just started taking the first steps of what will be a long walk to get global 5G networks up and running. That is the reason why U.S. President Donald Trump was ridiculed in February when he called for the U.S. to start implementing 6G technology as soon as possible. 5G networks will offer speeds up to 10 times faster than 4G LTE and it will eventually lead to the development of new industries and businesses.

trump and 6g

For now, 6G standards are not even close to being defined yet. As it is likely that Donald Trump has clearly no idea what 5G and 6G actually mean, one man who does is Jay Y. Lee who is the Samsung Vice Chairman.

As per the report by Bloomberg, an email spread today by Samsung states that Lee met with other Samsung executives last week and discussed partnering up with private equity firms for the development of 6G mobile networking equipment, artificial intelligence (AI) and blockchain technologies.

What exactly Blockchain is? Blockchain is a secure method to secure transactional data and was specifically devised to keep track of the dealings of Bitcoin. Many smartphone owners are familiar with AI because of the virtual personal assistant on their phones such as Siri and Google Assistant. And some smartphones use specifically AI to learn how bright users like the screen under some certain conditions and make the appropriate change that depends on ambient lighting.

Samsung has a great opportunity now to expand its presence in networking equipment

galaxy fold

In February, news circulated that Samsung is looking for ways to invest more money on its networking equipment, and most probably, this would be a perfect time for the Korean tech giant to do so. Currently, Huawei is the largest supplier of networking gear in the world, but with no ability to buy supplies from U.S. outfits, now it might not be able to produce the base stations that are part of the equipment it sells. Back in 2018, Huawei had a leading 29% of this market globally while the share of Samsung was less than 5%.

“We should challenge ourselves with a resolution to make new foundations, moving beyond the scope of protecting our past achievements.” Jay Y. Lee-Vice Chairman, Samsung

During the meeting between Lee and other executives of Samsung, the company discussed the need to set up a risk-response plan in the case that the company becomes embroiled in a crisis like Huawei is in right now and loses access to some certain parts of its supply chain. The email sent from Samsung didn’t mention two of the major clouds overhanging the tech industry today; those definitely would be the U.S.-China trade war and the ban that prevents Huawei from sourcing software and other parts from the U.S.

While Samsung states that the Galaxy S10 line had strong sales in the first half of the ongoing year, its mobile division saw operating profits decline 40% every year.  The current quarter needs to get a boost on the strength of the new Galaxy A mid-range line phones.

In the first 70 days of the launch of the series in March, Samsung sold more than 5 million units and generates sales in excess of $1 billion. But the cost behind the delay and revise of the Galaxy Fold is still not known.

The Samsung Galaxy Fold from a major manufacturer was first scheduled to be released on April 26th. But some influencers intentionally ignored warnings from Samsung and peeled off a plastic film from the internal screen that damaged the device. There are some issues that also surfaced, including at least one situation when debris entered the device through a gap in the hinge resulting in a bulge in the screen. Samsung has yet to announce a new release date as it has made some changes in the protective film to prevent users from peeling it off and has narrowed the opening at the top as well as at the bottom of the hinge to keep out dust, dirt and other debris. Best Buy and AT&T have canceled their pre-orders for the first foldable phone and Samsung has also canceled pre-orders unless expressly told not to by customers.

(Via: Bloomberg)

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