Samsung Electronics (OTCPK:SSNLF) said it will become the largest shareholder in Rainbow Robotics to accelerate future robot development, such as humanoid robots. The South Korean tech giant said ...

Samsung Electronics is growing its influence in South Korea and the tech industry. The company announced that it had achieved the status of the largest shareholder in Rainbow Robotics, a South ...

SEOUL, Dec 31 (Reuters) - Samsung Electronics (005930.KS) became the largest shareholder of South Korea's Rainbow Robotics (277810.KQ), the robotics company said in a regulatory filing on Tuesday.

The deal is expected to close on February 17 following government approval. Samsung Electronics first bought into Rainbow Robotics in January 2023, acquiring a 10.22% stake for some 59 billion won.

Samsung first invested in Rainbow Robotics recently in 2023. It seems that the South Korean giant is happy with the results, as they have now increased their stake in the firm to 35%.