Rainbow Robotics has been on a six-trading-day winning streak. This is interpreted as Samsung Electronics' announcement to fully focus its capabilities on expanding in the robotics field highlighting that Samsung Electronics is the second-largest shareholder of Rainbow Robotics.
As of 10:08 AM on the 22nd, Rainbow Robotics is trading at 133,900 KRW, up 1.59% from the previous day. It has been rising for six consecutive trading days since the 15th.
According to industry sources, the day before, Han Jong-hee, Vice Chairman of Samsung Electronics (Head of DX Division), said at the Samsung Electronics Bespoke Life Media Day event held at Community House Masil in Jung-gu, Seoul, "I mentioned at the general meeting of shareholders that robots are another new growth engine," adding, "We are moving forward step by step in that direction."
He emphasized, "Samsung Research is working to create a Samsung robot platform, and the robot business team in DX is active," and "We are preparing the EX1 product to be released this year."
He continued, "Many areas are being replaced by robots," and added, "We plan to concentrate all our capabilities in the robotics field to find new business opportunities."
Earlier, Samsung Electronics participated in a third-party allotment capital increase of Rainbow Robotics, holding a 10.2% stake, and on the 15th, executed an additional equity investment, increasing its stake to 14.99%. Samsung also holds a call option on shares held by special related parties, which could increase its stake to 59.94% if exercised. Accordingly, the securities industry expects that Samsung could acquire Rainbow Robotics through a merger and acquisition (M&A).
Rainbow Robotics was spun off in 2011 from Hubo Lab, a research institute within the Korea Advanced Institute of Science and Technology (KAIST), and developed 'Hubo,' Korea's first humanoid bipedal walking robot. Hubo is regarded as one of the world's top three bipedal walking robots alongside Japan's Honda ASIMO and Boston Dynamics' Atlas.
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