Samsung Takes Lead as Major Stakeholder in South Korean Robotics Firm
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Seoul, Dec 31 (NationPress) Samsung Electronics revealed on Tuesday its plans to become the predominant shareholder in Rainbow Robotics, a South Korean robotics startup, as part of its initiative to enhance robotics technologies, particularly in humanoid robotics.
The technology leader has elevated its ownership in Rainbow Robotics to 35 percent by utilizing a call option on its previous 14.7 percent stake, according to the company's statement. In 2023, Samsung Electronics invested 86.8 billion won (approximately $59 million) into the startup, as reported by Yonhap news agency.
This stake increase positions Samsung Electronics as the largest shareholder of the startup, which is set to be incorporated as a subsidiary in its consolidated financial reports, the company noted.
Founded in 2011 by researchers from the Korea Advanced Institute of Science & Technology, Rainbow Robotics focuses on humanoid robotics technologies. The founders were responsible for developing Hubo, South Korea's inaugural two-legged walking robot.
Samsung Electronics stated that it plans to merge its artificial intelligence and software strengths with Rainbow Robotics' specialized knowledge to hasten the creation of intelligent, sophisticated humanoid robots.
Additionally, the company has established the Future Robotics Office to foster innovation in robotics and maintain a competitive edge in technologies that can turn robotics into a significant growth driver for the future.
In other news, the company will present its latest line of home appliances featuring artificial intelligence (AI) technology at the upcoming CES next month.
This new lineup, which includes the advanced Bespoke refrigerator, washer, and dryer equipped with AI home solutions, will be displayed at CES 2025, scheduled for January 7-10 at the Las Vegas Convention Center, as per the Korean company's announcement.
The AI home concept refers to Samsung's initiative to integrate all its home appliances with the AI-powered SmartThings connectivity platform, enabling remote monitoring and control of devices, according to Yonhap news agency.
The upgraded AI home technology will allow users to manage the power and settings of all connected home appliances from the touch screen of any product, Samsung elaborated.
