September 27, 2012

News: Samsung Sets Sights On Digital Music Industry

Samsung electronics wants in. If their is a 9 billion dollar global digital music market, they want in. According to Reuters, a senior executive from the company stated Samsung is planning to go out and buy mobile content providers to compete with other industry giants.

SEOUL (Reuters) – Samsung Electronics, which has vaulted the value chain on the strength of its hardware, will go out and buy mobile content providers, a senior executive told Reuters, to compete with Apple, Google and Amazon.com in a global digital music market worth nearly $9 billion.

The South Korean electronics giant has muscled its way to global leadership in TVs, smartphones, chips and display screens – packing internally sourced state-of-the-art components into consumer gadgets – but software remains a weak link.

“The message we’re getting from the top is to raise software capability, and buy rather than build, if needed,” Kang Tae-jin, senior vice president of Samsung’s Media Solution Center, said in an interview. “Our focus on software is primarily aimed at driving hardware sales, rather than making money. We have a full range of handsets in so many countries, and, to better market our products, we thought it’s better to start our own software business.”

Apple’s potential launch of an online streaming music service is prompting rivals to counter the iPod maker, which pioneered and still leads the digital music market. Success in today’s mobile market means integrating products to seamlessly connect hardware and software.

In May, Samsung bought online music service mSpot and has built its own Music Hub service to compete against Android’s Music Player, Apple’s iTunes and Amazon’s Cloud Player. Kang says Samsung is ready to do more deals.”

Read full article on Huffington Post

Related posts:

News: @TheWeekndXO Cancels Show In NYC
News: Weekly Album Sales Chart
News: Michael Jackson and Elvis Top Forbes 2013 "Top-Earning Dead Celebrities" List

Post a Comment

Your email is never published nor shared. Required fields are marked *

*
*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>