In 2011 Samsung became the world’s largest phone manufacturer, in 2014 they had more employees than Google, Apple and Microsoft combined, and in 2017 they outperformed Apple in profits as they raked in over $50B compared to Apple’s $48.4B. However, it doesn’t look like the company are going to slow down any time soon as they announced plans to invest $22B into a variety of new ventures in hopes to increase the diversity of their portfolios.
Specifically, the world’s leading electronics manufacturer is going to spread the $22B budget over the course of three years while focusing in on the artificial intelligence, biopharmaceuticals, automotive electronics and 5G industries. As for the scale and applications of this, in the AI sector alone Samsung plans to hire 1,000 new researchers and hope to implement the technology’s capabilities in its devices by 2020 so we should hopefully be seeing big strides from the company in the not too distant future.
