Samsung Introduces Cloud Monetization System for Hardware Makers, Service Providers
Samsung announced the Artik Cloud Monetization system in a Monday news release as a way for connected device makers and service providers to monetize IoT data. Artik allows manufacturers to shift their operating model from selling hardware to selling products…
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connected to digital applications, enabling new business models such as hardware as a service, Samsung said. The system gives device makers a way to recoup costs of an ecosystem of third-party devices, apps and services, which to date they had to absorb themselves or factor into products’ retail cost, it said. Artik includes a brokering, metering and payments system and is part of a long-term Samsung strategy to develop secure IoT products and services, wide-scale interoperability and a platform “for an entire IoT ecosystem to thrive,” said James Stansberry, Samsung global head-Artik. Stansberry compared the model to the smartphone market that’s driven by open systems, interoperability and “support from innovative applications.”