[Asia Economy Reporter Hyungsoo Park] Everybot is showing strong performance. It appears that the news of Samsung Electronics Vice Chairman Han Jong-hee mentioning ‘robots’ and ‘metaverse’ as new growth fostering businesses at the Samsung Electronics regular shareholders' meeting held on the 16th is influencing the stock price. The fact that Only Robotics, a newly listed robot stock, surged 160% compared to its IPO price also seems to have played a role in attracting attention to robot-related stocks.
At 9:50 AM on the 18th, Everybot was trading at 47,500 KRW, up 9.45% from the previous day.
Yoonjung Kim, a researcher at Ebest Investment & Securities, explained, "He stated that the first step of the new business would be the robot business," adding, "Earlier, Samsung Electronics showed its willingness to actively foster robots as a new business by establishing a robot commercialization TF organization at the end of last year."
She continued, "This created expectations for the growth of the domestic robot industry," emphasizing, "However, Samsung Electronics’ Life Companion robot belongs to the smart home (AI) and service robot sectors, focusing on interaction with customer lifestyles based on a connection platform among Samsung home appliances."
She advised, "Since the areas where domestic listed robot companies mainly operate are industrial robots, it is difficult to expect Samsung’s new business promotion to directly benefit domestic companies."
However, she emphasized, "As the global economy has entered a low-growth phase, demand for automation and unmanned systems is increasing across manufacturing and service industries," and "The scope of robot applications based on technological development is expanding."
She analyzed, "I believe there is significant potential for expanding demand for robotics technologies and products," and "In terms of scalability, I rate the growth potential in service robots relatively higher than in industrial robots." Additionally, she added, "Samsung Electronics’ new business blueprint can also be seen as a plan that gauges the high scalability and demand of the robot market."
Everybot is a manufacturer of mop robot vacuum cleaners. It launched the world’s first wheel-less robot vacuum cleaner that simultaneously performs driving and cleaning through the rotational force of the mop itself. The Edge model is sold under the Everybot brand, and since January 2020, it has also been supplied as an ODM product to Samsung Electronics, with all units exported. It is steadily increasing volume through its presence on Amazon.
Sehoon Son, a researcher at NH Investment & Securities, said, "As Samsung Electronics is expected to officially enter the robot business recently, Everybot is expected to benefit as it supplies products to Samsung Electronics as an ODM."
Everybot signed a development contract with Samsung Electronics in 2020 and supplied robot vacuum cleaners applying Robospin technology to Samsung Electronics. Through Samsung Electronics’ development projects, it filed two domestic patents and three overseas patents. Through continuous joint development with Samsung Electronics for over two years, it developed numerous core technologies and maintains a collaborative relationship. Everybot is also intensively collaborating with major telecommunications companies to implement IoT home service robots. It will accelerate the development of robots that improve human life.
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