The vice chairman of South Korean consumer electronics giant Samsung says the firm will seek to collaborate with platform companies on the development of blockchain, artificial intelligence and sixth-generation mobile networks. The news was reported by Bloomberg on June 16.
The vice chairman, Jay Y. Lee — who reportedly serves as the firm’s de facto leader — held discussions with Samsung executives to discuss the potential collaborations last week, according to a company statement cited by Bloomberg. A platform company is an initial acquisition by a private equity firm for the purpose of making further acquisitions within a certain sector.
Per Bloomberg, the move to pursue bleeding-edge technologies such as blockchain and 6G comes amid a rapidly changing business climate and structural changes in the technology industry, which ostensibly presents new challenges for major firms. In the statement, Lee noted:
“We should challenge ourselves with a resolution to make new foundations, moving beyond the scope of protecting our past achievements.”