Samsung is again in news with its rumored cryptocurrency phone. One of the biggest names in the smartphone market, Samsung, now might enter a totally new game of cryptocurrency.
At SamMobile, the site revealed the news that Samsung would work on a cold-walled application for crypto. This follows the news of the company’s trademark applications for blockchain and cryptocurrency software.
Samsung’s portfolio is presumed to include a cold wallet for storing cryptocurrency, signing keys, registration key for transactions and a wallet for simple transfers. So far, no name has been given to the software, but it has been suggested that Samsung will make it available in the development of the Galaxy S10 series, which will be the main product of its line.
This news just came after a day or two after the extremely expensive HTC phone, the Exodus 1, finally reached the end users. The Exodus 1 also has blockchain and crypto functions, although the delivery of the device seems to be limited at the moment.
As for Samsung, as expected, no official announcement was made on the rumors. We do not expect it to be faster. But these branded apps suggest that where the smoke is out, there is probably a fire to go happening.
Moreover, recently the company has announced shutting its mobile production plant based in Tianjin, China. The decision came in view of growing competition from rivals that operate on low-cost profits and its declining performance in the most lucrative smartphone market. In the Q1 the company had witnessed 1% drop in the Chinese market and losing its momentum to the local competitors such as Huawei. The production facility presently houses 2,600 employees and will be shut by this year-end.
The Korean smartphone stated that it would compensate the employees with packages and also look for other opportunities in other facilities of the company.