Samsung to invest in startups in 2012

Samsung’s chairman Lee Kun-Hee has hinted that the company is going to make new investments and acquire new start-ups for the development of new products and future technologies. In a report filled by the TheNextWeb, Lee Kun-Hee proclaimed in a New Year’s speech that the company’s existing businesses would stagnate and would struggle to grow amidst the economic downturn but focus on start-ups and future technologies will rekindle the company’s growth.

Lee Kun-Hee stated “Samsung’s future lies in new businesses, new products and new technologies,” stressing the need for “increasing investment and jobs and focusing on exports”.

“We should change our corporate culture in ways that are more open, flexible and innovative. We should only think about something new and breaking all existing rules.”

Samsung is currently the world’s largest technology company in terms of revenue and has seen considerable success in the smartphone, tablet and television markets, but is stuck in a heated patent battle with Apple over the design of certain products.

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