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Samsung to invest $100m to advance Internet of Things

Samsung CEO Boo Keun Yoon has pledged $100m to make an open system for its hardware in a bid to hasten the impending Internet of Things revolution

Speaking about the Internet of Everything, Samsung CEO Boo Keun Yoon said "We have to make it clear that the IoT can achieve much more....It has the potential to transform our economy, our society and how we live our lives"

The Korean smartphone giant unveiled its plans to launch further into the IoT market at the Las Vegas Consumer Electronics Show 2015 (CES). The company declared that 90 percent of its devices would be connected to the internet by 2017 and that they would all be smart by 2019.

Yoon added that the industry must overcome potential fears concerning the security of smart

Samsung plans to produce an open system that will allow its devices to connect with any software, paving the way for increased automation as devices effectively talk to one another. CEO “We have said that other companies need to follow suite in terms of open systems, if IoT is to move forward. “I’ve heard people say they want to create a single operating system for IoT, but these people only work with their own devices. We can deliver the benefits of IoT only if all sensors can talk to each other”, he said at the show, The Guardian reports. “I’m making a promise that our IoT devices and products will be open. We will ensure that others can easily connect to our devices.”

Yoon added that the industry must overcome potential fears concerning the security of smart, connected systems, and convince consumers of the importance of IoT. As a means of addressing such concerns, users of Samsung’s SmartThings devices will be able to subscribe to a service that promises additional monitoring and security measures.

Prior to the show, Samsung unveiled new products including washing machines and its latest high-definition TVs. The move marks a bid to branch out beyond the smartphones and tablets for which the company is renowned, in order to reverse the decline in profits seen in 2014; Samsung saw a 60 percent year-on-year drop in the third quarter as it felt the effects of rivals such as Chinese company Lenovo.

Yoon was optimistic that open connectivity could hail important change. “We have to make it clear that the IoT can achieve much more”, he said, according to the FT. “It has the potential to transform our economy, our society and how we live our lives.”