Samsung is creating its own metaverse

The tech conglomerate, Samsung is investing heavily into its research and development of metaverse focus technologies. Last year, Facebook made its earth-shattering announcement of shifting toward the metaverse and even changing the company to Meta. This marks another titan of the industry showing interest and seeing real viable future business opportunities.

Samsung Electronics, which translates from Korean Tristar Electronic and is also sometimes shortened to SEC, is a South Korean global expanding electronic company that makes everything smartphones, TVs, batteries, home appliances, and even military hardware. Samsung has assembly plants and offices in 74 countries with over 290,000 employees. It has a market capitalization of $355.66 billion, making it the 19th largest company by revenue in the world.

Samsung had a humble beginning when it was founded on January 19, 1969, in Suwon, South Korea – formerly named Samsung Group. It was known for specializing in fertilizers and sweeteners. Due to social outcries of anti-Japanese reliance on the technology section, the South Korean government wanted to shift focus on the local companies moving toward technologies. Samsung established joint venture with Sanyo and Sumitomo Corporation with early products of electrical appliances like TVs, calculators, air conditioners, and refrigerators. Over the decades, the company continued to expand in different territories; from semiconductors, mobile phones, memory chips, and even manufacturing partnerships with the likes of Apple and Google.

With all the rumbling of interest in the metaverse and blockchain space, Samsung Vice Chairman, Han Jong-hee announced internally to the staff to develop its own metaverse supported technology. “We will create Samsung’s version of the metaverse. Please come up with many ideas and help materialize them,”

Han believes that robotics and the metaverse are huge growth vehicles for the company- he shared these sentiments in the March annual shareholder’s call- “We will launch metaverse devices and solutions to enable customers to experience the new technology wherever they are,” Some reports shared insight of the development of reality headset under the Galaxy name as one of its first metaverse products.

The Samsung Research and Development sector has been developing “the next-generation display technologies and device prototypes,”

Samsung partnered with Decentraland to create a virtual experience replica of their NYC store.

Samsung’s marketing department has utilized and experimented with creating a virtual 3D replica store in New York, Samsung 837X. This was done in partnership with blockchain experience company Decentraland.