Samsung Wants to Control Your Home

By Eric Bleeker and Max Macaluso – Jul 23, 2014 at 8:00PM

NASDAQ: AAPL

Apple

Market Cap

$2,561B

Today's Change

(0.51%) $0.84

Current Price

$165.84

Price as of April 22, 2024, 4:00 p.m. ET

Samsung is reportedly buying the home-automation company SmartThings for around $200 million.

Samsung is reportedly responding to Google's (GOOG 1.43%) (GOOGL 1.42%) Nest and Apple's (AAPL 0.51%) HomeKit by investing in its own home-automation division. Multiple reports have Samsung closing in on buying SmartThings, which allows you to connect devices in your home -- from thermostats to lights -- to your mobile phone in a centralized app. The deal is said to be around $200 million dollars, though it's not yet official.

In the This Week in Tech video below, The Motley Fool's general manager and senior tech analyst, Eric Bleeker, and tech bureau chief, Max Macaluso, talk about Samsung's latest foray into the Internet of Things and how it might do against products from Google and Apple.

Eric Bleeker, CFA has no position in any stocks mentioned. Max Macaluso, Ph.D. owns shares of Apple. The Motley Fool recommends Apple, Google (A shares), and Google (C shares). The Motley Fool owns shares of Apple, Google (A shares), and Google (C shares). We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.