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Samsung will use Metaverse to address its recent app issues and stock price drop

Samsung Electronics has spread the word that it aims to dip its toes properly into the Metaverse, according to South Korean news portal Hankyung.

The decision was just announced during a general meeting of shareholders. This strategy will entail many mergers and acquisitions, as well as forays into artificial intelligence, 5G telecommunications, and robot manufacturing.

The decision was made in response to the “Game Optimizing Service” (GOS) issue, which has caused hundreds of gaming apps on Galaxy S22 handsets to slow down, as well as a drop in the company’s stock price.

According to Hankyung, the lack of a fresh growth engine for Samsung’s business is the cause of the company’s stock price decrease. Metaverse, AI, and robotics will now serve as the engine that propels the electronics behemoth ahead.

Samsung has not purchased any more companies since acquiring Harman Electronics. Then, and there have been no reviews that compare Samsung to its competitors. As a result, at the shareholders’ meeting, Vice Chairman Han chose Metaverse as a means to build the company.

Aside from Metaverse, the electronics behemoth has been considering robotics as a potential growth engine for the past two years. Samsung was on the verge of forming a task force for robot commercialization by the end of 2020.

This almost-completed task force became a robot business team in late 2021. After a year of testing, the industry expects Samsung to launch major activities in this sector.

During the meeting, Vice Chairman Han stated that Samsung aspires to be a leading firm in the robot technology area in a variety of fields. Thereby, enabling future generations of people to live with robots as “life companions.”

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