Korea’s Samsung moving into mobile healthcare

wearables

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According to the business portal BusinessKorea, Samsung Electronics has opted for a hearing aid as its first product in mobile healthcare

The Korean giant Samsung, which has activities in areas as diverse as advanced technology, semiconductors, skyscraper and industrial plant construction, petrochemicals, fashion, finance, and the hospitality industry, is reported to be planning to join the hearing aids market.

The company is interested in developing this area as a new growth driver. The global hearing aids market will be worth in the region of USD 8.5 billion this year, and is expected to grow by more than 8% annually. According to a Samsung official, “This project started as part of strengthening the healthcare business that Vice Chairman Lee Jae-yong leads.” This strategy seems to be part of a plan to use the hearing aids business as a stepping stone to move into mobile healthcare and wearable devices.

This development project will be led by the medical appliance business division of the company, within the Consumer Electronics department. The division was launched recently before Samsung Electronics took over Samsung Medison in 2011, a manufacturer of diagnostic ultrasound equipment.

According to the business portal, Samsung Electronics will aim to develop a hearing device that is convenient and that has an improved system which directly connects a receiver wirelessly by mounting a repeater on a smartphone, which is generally worn near the waist of a person with hearing impairment.

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Source: BusinessKorea

C.S.