Samsung Looks Beyond Smartphones With Plans to Buy AI Makers

Samsung Electronics Co. is "actively looking" to acquire developers of artificial intelligence and other software as the world's biggest smartphone maker tries to overcome flat-lining sales for its devices. Samsung, which has 61 billion in cash and equivalents, wants to morph into more of a software-driven company, Executive Vice President Rhee In Jong said in an interview. The South Korean consumer-electronics giant also is spending more to develop its own services because the global market for gadgets is saturated and can't be counted on for significant revenue growth, he said. "We are actively looking for M&A targets of all sorts in the software area," said Rhee, who runs the mobile division's software research-and-development business. "We are open to all possibilities, including artificial intelligence. Intelligence is no longer an option -- it is a must."