Samsung Introduces Cloud Monetization System for Hardware Makers, Service Providers

Samsung announced the Artik Cloud Monetization system in a Monday news release as a way for connected device makers and service providers to monetize IoT data. Artik allows manufacturers to shift their operating model from selling hardware to selling products connected to digital applications, enabling new business models such as hardware as a service, Samsung said. The system gives device makers a way to recoup costs of an ecosystem of third-party devices, apps and services, which to date they had to absorb themselves or factor into products’ retail cost, it said. Artik includes a brokering, metering and payments system and is part of a long-term Samsung strategy to develop secure IoT products and services, wide-scale interoperability and a platform “for an entire IoT ecosystem to thrive,” said James Stansberry, Samsung global head-Artik. Stansberry compared the model to the smartphone market that’s driven by open systems, interoperability and “support from innovative applications.”