KT Corp. and Samsung Electronics to Jointly Develop Digital Music Players with Wi-Fi Connectivity

Seoul, South Korea's biggest fixed-line telephone and broadband Internet operator, KT Corp., has signed a memorandum of understanding with a unit of Samsung Electronics Co. to jointly develop digital music players featuring high-speed wireless Internet access, known as Wi-Fi. The agreement marks a significant step towards KT's goal of leading the world's high-speed wireless Internet market. The digital music players will be equipped with Wi-Fi connectivity for KT's high-speed wireless Internet service, "Nespot," allowing users to surf the Internet on portable electronic devices without wired connections.

Key Takeaways:

• KT Corp. has partnered with Samsung Electronics Co.'s unit, Bluetek Co., to develop digital music players with Wi-Fi connectivity for KT's high-speed wireless Internet service, "Nespot."
• The agreement aims to offer the Nespot service on all possible devices, including laptop computers, mobile phones, and digital music players.
• Samsung Electronics plans to become the world's leading manufacturer of digital music players by 2007, supplanting Apple Computer Inc.
• The partnership between KT and Samsung seeks to increase KT's market share in the global digital music player market.
• Wi-Fi technology allows for high-speed wireless Internet access on portable devices without the need for wired connections.

Statistics:

• KT Corp. is South Korea's biggest fixed-line telephone and broadband Internet operator.
• Samsung Electronics plans to achieve a 10% share of the global MP3 player market by the end of 2006.
• The partnership aims to lead the world's high-speed wireless Internet market.

Sources:

• Yonhap
• Asia Pulse
• KT Corp.
• Samsung Electronics Co.