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Samsung’s 2024 M&A Plans: What the Company Said—and What Happened

Samsung said it was reviewing major acquisitions in 2024, but no mega-merger emerged. The actual developments centered on AI and robotics capabilities.
From TheFinanceBase Team5 min to read

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Samsung Electronics said in January 2024 that it was reviewing major acquisition opportunities and hoped to outline a larger M&A plan later that year. It did not name a target or announce a mega-merger. The year brought a focused acquisition of UK knowledge-graph company Oxford Semantic Technologies and a plan to take control of robotics firm Rainbow Robotics—not a disclosed deal on the scale of Harman.

What Samsung said about acquisitions in January 2024

At CES 2024, Samsung Electronics co-CEO and Vice Chairman Han Jong-hee said the company was continually reviewing potential M&A targets and was optimistic about producing a larger plan later in the year. He also pointed to difficult conditions, including economic weakness, geopolitical tensions and uncertainty. The stated aim was to reinforce existing businesses and find new engines for growth. Yonhap’s account of Han’s remarks reports the comments; they were an expression of intent, not a signed deal or a promise to buy a particular company.

Some headlines described the prospect as a mega-merger. Samsung’s public comments did not identify a partner, and “large M&A” does not necessarily mean a merger between two large public companies. Samsung Electronics’ January 31 capital-allocation disclosure said its policy could be adjusted in light of factors including M&A activity and cash levels, but it did not establish that a major purchase was imminent. Samsung’s disclosure

Why Samsung was looking beyond its existing businesses

Smartphones, memory chips and consumer electronics expose Samsung to cyclical demand and intense competition. Buying a company can add technology, engineering talent, software expertise or access to a market faster than building those capabilities entirely in-house. The strategic logic is especially relevant in fields where hardware increasingly depends on software and specialized services.

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Samsung’s precedent was Harman, an automotive-electronics and audio company that gave Samsung a foothold in connected vehicles. Samsung announced the roughly $8 billion transaction in 2016 and completed it in 2017. Coverage commonly treats Harman as Samsung Electronics’ last major acquisition before the 2024 expectations. That history helps explain why the prospect of another large purchase attracted attention, but it does not mean a deal of comparable size was already in motion. Korea JoongAng Daily’s January 2024 coverage

Which areas were strategic priorities?

Contemporary coverage associated Samsung’s M&A strategy with five areas. These were strategic categories, not a disclosed list of companies Samsung had committed to acquire. Samsung also used venture investments in these fields; an investment in a startup does not by itself mean Samsung has acquired or controls it. Korea JoongAng Daily and SamMobile’s report identified the broad areas.

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  • Artificial intelligence: Software and knowledge technologies could complement Samsung’s devices and services. The later Oxford Semantic Technologies agreement is a concrete example of a targeted acquisition in this broader capability area.
  • Robotics: Robotics offers a route into automation and future products. Rainbow Robotics became the clearest named strategic investment that moved toward Samsung control.
  • Vehicle components and connected-car technology: This area builds on the kind of automotive-electronics presence Samsung gained through Harman.
  • Digital health: Health platforms were identified as an area of interest, but the January statements did not name a specific health-company target.
  • Fintech: Financial technology was another reported strategic category, not a confirmed acquisition pipeline.

Named possibilities: Rainbow Robotics and Nokia assets

Rainbow Robotics: a strategic investment that advanced toward control

Samsung had acquired a minority stake in Rainbow Robotics in 2023. Contemporary reporting said the stake had risen to approximately 14.99% by early 2024. On December 31, 2024, Samsung announced it would exercise options to raise its holding to 35%, become the largest shareholder and make Rainbow Robotics a subsidiary. Samsung said the companies would combine its AI and software capabilities with Rainbow’s robotics technology. The acquisition procedure was completed on March 12, 2025. Samsung’s control announcement and the transaction completion disclosure document the steps.

Rainbow is meaningful to Samsung’s robotics strategy, but the change in ownership is not a mega-merger comparable to Harman. Its importance is strategic rather than evidence that Samsung bought a company of similar scale.

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Nokia mobile-network assets: reported interest, not a deal

Later in 2024, reports citing people familiar with the matter said Samsung was among parties showing preliminary interest in Nokia’s mobile-network assets. That report concerned a business unit, not Nokia Corporation as a whole. It did not establish a Samsung offer, agreement or completed purchase. The report cited in coverage of the possibility should therefore be read as an unconfirmed lead, not an acquisition announcement.

What Samsung actually announced in 2024

Date Transaction or development Status and significance
July 18, 2024 Oxford Semantic Technologies Samsung announced an agreement to acquire the UK knowledge-graph company. It was a focused AI and knowledge-engineering acquisition, not a mega-deal. Samsung’s announcement
December 31, 2024 Rainbow Robotics Samsung announced it would exercise options to increase its stake to 35% and make Rainbow Robotics a subsidiary. This was an announced intended control transaction at year-end, not a completed 2024 acquisition. Samsung’s announcement
March 12, 2025 Rainbow Robotics The acquisition procedure was completed. This date matters: completion followed the 2024 announcement. Transaction disclosure

Harman’s history provides scale context: Samsung announced that roughly $8 billion acquisition in 2016 and completed it in 2017. Separately, Harman acquired music-streaming platform Roon in November 2023; that subsidiary transaction was not a Samsung mega-merger.

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Why a mega-deal would be hard to execute

A purchase large enough to materially alter Samsung’s business mix would bring more than a price tag. AI, semiconductor and automotive assets can command high valuations; cross-border transactions may face antitrust review, national-security scrutiny or investment restrictions; and integrating a large business into a conglomerate can be complex. These are general deal-making pressures, not evidence that any one of them caused Samsung to abandon a specific proposed transaction.

Smaller, focused purchases can reduce integration exposure and bring specialized intellectual property into a relevant business or research unit. Their trade-off is that they may not quickly transform Samsung’s competitive position or provide the scale investors expect from a major new growth engine. The activity that emerged in 2024 fits a selective capability-building approach more clearly than a single, sweeping corporate expansion.

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Timeline: from Harman to Rainbow Robotics

  • 2016–2017: Samsung announces and completes its roughly $8 billion acquisition of Harman.
  • November 2023: Harman acquires Roon, a smaller transaction by a Samsung subsidiary.
  • January 9–10, 2024: Han Jong-hee says Samsung is reviewing M&A opportunities and hopes to present a larger plan later in the year.
  • July 18, 2024: Samsung announces its Oxford Semantic Technologies acquisition agreement.
  • December 31, 2024: Samsung announces the planned increase in its Rainbow Robotics stake to 35% and subsidiary status.
  • March 12, 2025: Rainbow Robotics transaction procedure is completed.

The record shows a genuine effort to explore acquisitions, but not a disclosed 2024 mega-merger. Samsung’s clearest realized direction was selective investment in AI and robotics capabilities rather than a purchase on Harman’s scale.

Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.

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