Don’t miss the latest developments in business and finance.

Samsung Electronics buys AI tech firm Zhilabs to boost 5G capabilities

Samsung did not disclose financial terms of the deal

Samsung
The logo of Samsung Electronics is seen at its office building in Seoul | Photo: Reuters
Reuters Seoul
Last Updated : Oct 17 2018 | 1:36 PM IST
Samsung Electronics Co Ltd said on Wednesday it had acquired artificial intelligence technology firm Zhilabs to enhance its 5G capabilities, marking a major push into the 5G market.

Zhilabs will continue to operate independently under its own management, Samsung said in a statement.

Samsung did not disclose financial terms of the deal.