Samsung buys streaming service

Comment on this story


IO_scitech samsung logo0

REUTERS

If Apple prevails in the current case, the cost to Samsung could reach $2 billion.

San Francisco - Samsung Electronics on Wednesday announced it is buying mSpot to take advantage of the Silicon Valley company's prowess at streaming music and films to smartphones or tablet computers.

The South Korean consumer electronics powerhouse did not reveal what it is paying to acquire mSpot, which is based in the Northern California city of Palo Alto.

“MSpot shares our vision to bring a best-in-class cloud and streaming entertainment experience to consumers and they've backed it up with great technical solutions,” said Samsung media solution centre senior vice president TJ Kang.

Samsung is buying mSpot's technology and team for a price estimated in online reports to be less than $10 million.

Samsung said it will pre-install mSpot music, video and radio services in new mobile devices.

“With our combined resources, we are looking forward to redefining media consumption across the mobile universe with cloud services,” said mSpot chief executive Daren Tsui.

Analysts agree that digital content and fun applications on smartphones is vital to the popularity of smartphones or tablets in the fiercely competitive gadget market and can be more important to consumers than slick hardware.

MSpot was founded in 2004 and its services include digital lockers for storing music in the Internet “cloud” and online streaming of songs and films.

The company faces heavyweight competition from Google and Amazon.com, which have each offer online music storage and streaming services. - Sapa-AFP

Hungry for more scitech news? Sign up for our daily newsletter


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks