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SEOUL: Samsung Electronics has been showcasing its 5G technology capabilities to the crown prince of Abu Dhabi who has been in Seoul on a visit.
The Abu Dhabi crown prince this week toured Samsung Electronics’ key manufacturing lines, increasing expectations of their broader cooperation in the IT sector.
Sheikh Mohammed bin Zayed Al-Nahyan visited the facilities in Hwaseong and Suwon, south of Seoul, as part of his two-day visit to South Korea ahead of a summit with President Moon Jae-in on Wednesday.
The visit drew keen attention as Samsung Electronics has placed a top priority on expanding its foothold in the Middle East region to woo deep-pocketed customers amid flagging demand for premium smartphones worldwide.
This is the second meeting in Samsung Electronic Vice Chairman Lee Jae-yong and the crown prince in about two weeks, as the two sides sat together on Feb. 11 in Abu Dhabi.
“Vice Chairman Lee Jae-yong welcomed the UAE crown prince, who was touring our production facilities of semiconductor and 5G mobile broadband equipment,” a Samsung Electronics spokesman told Arab News.
“We showcased our state-of-the-art 5G technology to transmit high-quality videos taken by a drone to a virtual reality equipment worn by the crown prince.”
After the tour, Lee and Al-Nahyan held a meeting to exchange opinions on ways of mutual cooperation in the fields of the 5G mobile communication network, semiconductors and artificial intelligence, he added.
During the meeting, accompanied by key UAE Cabinet members, Al-Nahyan showed great interest in bilateral cooperation, according to Samsung officials.
“I’m deeply impressed in the renovation and up-to-date technology of Samsung Electronics,” the prince was quoted as saying. “The
UAE has strong interest in adopting new technology and supporting companies contributing to society.”
Under the strategy for the Fourth Industrial Revolution adopted in 2017, the UAE aims to increase its contribution to the national economy by means of advancing innovation and future technologies.
The UAE plans to build nationwide 5G infrastructure before Expo 2020 Dubai. Under the plan, Etisalat, the UAE’S largest telecom operator, will construct 300 5G towers and develop 600 5G sites throughout this year.
The new generation of mobile network technology, 5G is believed to be faster over 10 times than 4G networks that have been constrained by capacity, bandwidth and latency limitations of current networks.
“Samsung Electronics is the only company that secures global competitiveness in the fields of network equipment, cellphones and chip set,” said the Samsung spokesman.
“This is why the UAE, considered a global test bed for new technology, shows interest in the 5G technology of Samsung Electronics.”
In recent weeks, there has been speculation about Samsung Electronics’ possible acquisition of GlobalFoundries, an American semiconductor foundry headquartered in California, the US. Abu Dhabi’s Advanced Technology Investment Co. (ATIC) is the foundry’s largest shareholder with a 90 percent holding.
Globalfoundries competes with TaiwanSemiconductor Manufacturing Company — by far the largest player with about
50 percent of the market — with Samsung Electronics in second place with nearly 15 percent.
A Samsung insider, however, dismissed the likelihood of an acquisition.
“For now, there is no advantage in acquiring GlobalFoundries,” the source said, declining to elaborate.
He added the acquisition of the foundry was not a main agenda item for the meeting between the Samsung heir and the UAE crown prince.