Samsung seeds development of Internet of Things (IoT)

Last summer, Samsung bought IoT startup SmartThings for $200M, and now is committing $100M to seed an eco-system of apps and developers.

Samsung isn’t just funding developers to create an open IoT system but also opening its devices up to the Internet of Things. In two years, 90% of Samsung devices will work within IoT ecosystems, with the remaining 10% coming online by 2020.
Yoon’s keynote matches up with a move Samsung made earlier this year when it teamed up with Intel , General Electric , and others to create the Open Interconnect Consortium (OIC). One of the main goals of OIC is to create standards for IoT devices. On its website, the group says, “This standard will be an open specification that anyone can implement and is easy for developers to use.”

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