Samsung Will Still Acquire Other Companies This Year

Samsung Will Still Acquire Other Companies This Year
Samsung will still acquire other companies this year. This was revealed by one of the company's top brass.

This step is Samsung's attempt to build software and services to make its products more diverse and different from competitors' products.

"We are very confident of finding a company that fits into our strategy," said Peter Koo, senior vice president at Samsung's mobile division, at an investor event in Hong Kong.

But he did not specify a specific target or technology to be acquired. Samsung a leading maker of memory chips, smartphones and televisions has moved aggressively in acquiring companies in recent years.

In addition to acquiring companies such as Viv Labs and LoopPay to strengthen Samsung's efforts to service artificial intelligence and mobile payments, the South Korean technology giant poured some money into a new business.

Earlier this year Samsung completed the acquisition of Harman International Industries for US $ 8 billion, assuming US $ exchange rate. This figure prints history for Samsung as its biggest business deal.

Koo says Samsung's goal of focusing on software and services is to make its products more appealing to consumers. Therefore, the company will seek partnerships and acquisitions to increase its offerings.

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