Samsung's Million Dollar Loss and its New IoT Consortium


Samsung has received some good and bad news these past few days. So let’s go with the good news first. The company in association with Dell, Intel and other firms has announced a new consortium dedicated to creating a standard for internet-connected device.

Known as the Open Interconnect Consortium, the consortium will focus on creating a standard to improve device-to-device connectivity. Initially, the participating companies will develop a certification program using an open-source code for different home and office scenarios.


Now, on to the bad news. The Brazilian wing of the Korean tech giant recently suffered a massive robbery incident were allegedly 40,000 units of laptops, smartphones and tablets were stolen from its office in Campinas, Brazil.

According to police reports, the robbers were able to enter the site through a hijacked shuttle and taking some of the workers hostage. None of the bandits have been identified and the total amount of goods stolen was reportedly worth $36 million (although Samsung is denying it).

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