Samsung raises stake in Rainbow Robotics: Tech giant strengthens its robotics position

user avatar

by Giorgi Kostiuk

2 years ago

Samsung Electronics is making significant moves to enhance its influence in South Korea and the tech industry by becoming the largest shareholder in South Korean robotics manufacturer Rainbow Robotics.

The Deal with Rainbow Robotics

Samsung has increased its stake in Rainbow Robotics to 35% for KRW 267 billion, approximately $181 billion. Initially, the corporation acquired a 14.7% stake in 2023 for KRW 86.8 billion. The transaction is expected to be finalized in February 2025, incorporating Rainbow Robotics as a Samsung subsidiary.

Samsung's Robotics Initiative

Samsung plans to accelerate the development of humanoid robots by creating a Future Robotics Office within the company, directly accountable to the CEO. Alongside Rainbow Robotics, a synergy council will also be established to focus on the advancement of advanced robotics technologies. According to a Samsung representative, significant synergy between the companies is anticipated.

Competition and Samsung's Future

While Samsung expands its influence in robotics, other Korean corporations are also actively engaged in this field. Hyundai, for instance, acquired Boston Dynamics in 2020. Additionally, international companies like Microsoft, OpenAI, and Tesla are making strides in this direction by developing their own technologies and products.

Samsung's current initiatives demonstrate its ambition to lead in innovative technologies. The company continues to expand its global presence, focusing on robotics, AI, and IoT.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Meta Platforms' Shares Surge Following AI Assistant Launch

chest

Meta Platforms' shares rose over 6% after the launch of its AI assistant, Muse, which helps users manage tasks and goals.

user avatarTomas Novak

Galaxy Announces $5 Million Funding for Bitcoin Quantum Security Research

chest

Galaxy announced up to $5 million in funding for Bitcoin quantum-security work, including developer grants, research, and an advisory council.

user avatarMaya Lundqvist

IonQ Launches Superion 256 Quantum Computer with Orders Open for 2027 Delivery

chest

IonQ has launched its Superion 256 quantum computer, opening orders for delivery in 2027.

user avatarKaterina Papadopoulou

Prediction Markets Show Shifts in Oil Price Expectations

chest

Prediction markets are reacting to oil price fluctuations, with traders speculating on whether crude will reach $120 or fall to $55 first.

user avatarAisha Farooq

Record Diesel Prices Hit Ahead of Midterm Elections

chest

Record diesel prices reached a high of 594 a gallon, raising concerns about consumer affordability ahead of the midterm elections.

user avatarLi Weicheng

Brent Crude Surpasses $100 Amid Geopolitical Tensions

chest

Brent crude oil prices rose above $100 for the first time in six weeks due to geopolitical tensions, including attacks on Saudi oil facilities and US military responses.

user avatarLeo van der Veen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.