People with knowledge of the matter reported that Samsung Electronics Co. Ltd is considering the launch of a smartphone, based on the companys operating system – the Tizen operating system on the Russian and the Indian market. The planned release of Samsungs smartphone is part of the companys effrots to become a worthy rival of mobile software giants such as Apple Inc. and Google Inc.
The people familiar with the matter revealed that in the upcoming weeks Samsung Electronics is planning an event in Moscow. The company is also said to be preparing itself for a smartphone release in India. One of the people familiar with the process reported that Samsung has now focused on expanding the reach of its operating system in order to include television sets.
The official representatives did not respond immediately when asked to to comment on the rumours.
The news comes at a time when the companys electronics unit has just become the biggest smartphone manufacturer in the world by surpassing the sales of its most serious competitor – Apple Inc. Now Samsung is said to be shifting its focus towards the drug industry. At least 2 billion dollars will be invested by Samsung in biopharmaceuticals following the strategy of its Chief Executive Officer Lee Kun Hee of finding new areas of investments.
The Chief Executive Officer of the companys Bioepis division – Mr. Christopher Hansung Ko, explained in a Bloomberg interview: “We are in an infancy still. We are a Samsung company. Our mandate is to become No. 1 in everything we enter into, so our long-term goal is to become a leading pharmaceutical company in the world.”
It became clear that the company places biosimilars in the centre of its plans to extend its reach in new areas. Samsung is planning to release its first biosimilar version of the arthritis therapy Enbrel of Amgen Inc. in 2016 in Europe. It also plans to sell a version of Remicade autoimmune diseases drug treatment of Johnson & Johnson in 2017.
Samsung Electronics Co. Ltd was losing 1.11% to trade at 1.335.000 South Korean won per share by 7:01 GMT, marking a one year change of -9.55%. The 41 analysts offering 12 month price targets for Samsung Electronics Co. Ltd have a median target of 1,750,000, with a high estimate of 2,000,000 and a low estimate of 175,000. The median estimate represents a 31.09% increase from the last price of 1,335,000.
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