Samsung plans increased investment in software
The company says that it will invest heavily in software, where it believes it can address "region-specific needs."
Samsung might be best known for its hardware, but the company is moving more of its money into software.
Speaking at Samsung's Analyst Day in Seoul, Korea, Wednesday, Samsung CFO Lee Sang-hoon said that the company is modifying its investment strategy, "shifting from hardware to software," according to the Wall Street Journal, which was in attendance at the event. The decision follows industry-wide movement from hardware to software, according to Lee.
Samsung's goal in software is to "reinforce our competitiveness," he said, adding that the company will specifically focus on "software platform, design, and IT."
A key component in building out software, however, is finding the right people. On that front, Lee says Samsung has been recruiting more software engineers and has set up R&D facilities across the world "to address region-specific needs."
Lee didn't say what its software investment might deliver to the market.