Market Chatter: Samsung Electronics to Establish Robotics Division to Drive Future Growth

MT Newswires Live
07/21

Samsung Electronics (KRX:005930) will establish a robotics division to accelerate the development and commercialization of robotics technologies as it looks to make it a part of its future growth engine, Reuters reported Tuesday, citing a company statement.

The South Korea-based technology company said that the new RX, or 'Robotics eXperience,' division will be headed by its chief executive, while its Executive Vice President, Lee Dongkun, will head the Robotics Strategy Team, the report said.

The new division will oversee the company's mid-to-long-term robotics strategy, core technology development and commercialization, and expand its research capabilities, with plans to open new robotics research hubs in the US, China, ​and Japan to strengthen its competitiveness, the report said.

Samsung Electronics did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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