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Samsung is globally popular for its wide varieties of electronic products and the leader of the mobile and smartphone market. Recently the company announced that it is going to invest a sum of $35 million in metaverse related programs.
Samsung announced that the company is planning to invest $35 million in metaverse initiatives directed at latam customers.
Anita Caerols, director of marketing and corporate citizenship of Samsung Electronics Chile explained the motive behind this virtual reality push for the company.
Anita stated “ At Samsung we believe that the metaverse is a concrete commitment to connect with young consumers. That is why we are investing more than US$35 million in initiatives that cover all of Latam.”
Although Anita assumes that fully immersive platforms are an element of the future of marketing and that for digital natives, the current metaverse is a natural extension of social media platforms, making it a sensible field for Samsung to explore.
The reason why Samsung is focusing and is investing such a huge amount on metaverse are justified by the marketing vision presented by the company.
Anita explained “If a business needs to speak and connect with young audiences, prospect current and future potential consumers, and engage with new influencers, it is imperative that it be in the metaverse starting now.”
Samsung released its third quarter 2022 results and revealed that “Total consolidated revenue was a record for the third-quarter at KRW 76.78 trillion despite a challenging business environment, while operating profit declined 23% from the previous quarter to KRW 10.85 trillion.”
Samsung Contribution in Crypto
Earlier on August 27 2022 a news outlet in South Korea reported that Samsung is preparing a roadmap to launch its crypto services.
South Korean media underlined that Samsung isn’t the main significant organization in the country that wants to make new strides in the crypto world. Six other significant organisations recorded on the trade, including Mirae Asset Securities, have plans to have crypto exchanging at stage 2023.
Earlier, Samsung was reported to offer benefits on pre-orders of its earlier launched Galaxy S22 and Tab S8 Series. The company also attached New Galaxy NFT offerings with these launched products in South Korea.
Samsung’s targeted audience is between 25-65 years of age and as per recent data Samsung has an active user base of around or more than 992.4 million.
Samsung has been leading in the smartphone industry for the past many years and after analysing the active contribution of the South Korean conglomerate in crypto sector, it can be assumed that the company will become one of the leading companies within the space
After seeing remarkable hardwork of Samsung it is easy to assume that in the upcoming few years the company will establish its new reputation in crypto, web3 and metaverse sector.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
