First reported by Hankyung, Samsung has announced plans to heavily invest in the metaverse in a range of new ways.

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While answering questions at a recent general shareholders’ meeting, Samsung Vice Chairman Han Jong-hee said, "We will develop optimized metaverse devices and solutions so that customers can experience metaverse anytime, anywhere."

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Samsung’s push into the metaverse will include multiple mergers and acquisitions, entering the artificial intelligence sphere, 5G telecommunications technology, and production of robots.

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The move to develop metaverse devices is mainly due to recent issues surrounding Samsung’s 'Game Optimizing Service,’ causing its stock price to plunge. Notably, Hankyung added that the lack of development of a new growth engine for the company’s operations is also to blame for its stock price.

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This isn’t the first time Samsung has shown interest in the metaverse. Earlier this year, Samsung partnered with Decentraland to open a virtual replica of its flagship New York City store in the metaverse.

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