Samsung Enters Metaverse Race; development of a virtual reality headset, Marketing & Advertising News, ET BrandEquity

Samsung is reportedly developing a virtual reality headset under the name Galaxy as the first Metaverse-related product. (Courtesy of iStock)

Samsung Electronics is accelerating its research and development of metaverse-related technologies in a bid to nurture its new growth engines, joining the growing list of global tech companies betting big on the new realm.

Samsung VP Han Jong-hee recently discussed the topic with a number of employees and reaffirmed the company’s plan to roll out “Samsung’s version of the metaverse,” the sources say.

“We will create the Samsung version of the metaverse. Please come up with lots of ideas and help bring them to life,” Han said, Yonhap News Agency reports.

It wasn’t the first time the top executive mentioned the need to delve into emerging technology, seen as the next big thing in the global tech industry.

Facebook officially changed its name to Meta in November, calling the Metaverse “the next evolution of social connection,” with plans to invest $10 billion in the new technology.

Han singled out the metaverse and robotics as the tech giant’s new growth areas at the annual shareholder meeting in March.

“We will launch metaverse devices and solutions to allow customers to experience new technology wherever they are,” he said at the time.

Han also made similar remarks during MWC 2022 in Barcelona, ​​Spain in February.

Samsung, the world’s largest maker of memory chips and mobile phones, recently set up a dedicated task force on the subject, which reports directly to Han, and is said to be developing a virtual reality headset under the name Galaxy as the first metaverse related product.

Samsung Research, the R&D center of the company’s Device eXperience (DX) unit, is studying “next-generation display technologies aSamsung Research, the R&D center of the company’s Device eXperience (DX) unit, is studying” next-generation display technologies and device prototypes,” as well as various usage scenarios, according to the company. and device prototypes,” as well as various usage scenarios, according to the company.

Samsung also used the metaverse for marketing and entertainment purposes.

The company has built a virtual store, Samsung 837X, which is a replica of its real-life New York flagship store, on the Decentraland blockchain-powered virtual world to showcase its latest flagship Galaxy S22 series.

With prices for new flagship smartphones remaining at the high end, a greater share of consumers have considered buying refurbished models from popular brands like Apple and Samsung, according to Counterpoint Research’s “Global Refurb Smartphone Tracker.” ..

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