Samsung Electronics acquires US cloud contents service provider

Samsung Electronics, the world's largest maker of mobile phones, memory chips and TVs, said Thursday that it acquired the US-based mobile cloud contents service provider mSpot in a bid to strengthen its mobile entertainment business. According to an e-mailed statement, Samsung acquired the full scope of technology, assets and human resources under mSpot that offers music, video and radio services for mobile users. Financial terms of the deal were not disclosed. Samsung said that the acquisition will provide mobile cloud contents for users of Samsung's Galaxy smartphones and table computers, noting that the cloud and streaming solutions of mSpot will reach a broader global market through Samsung devices. "mSpot shares our vision to bring a best-in class cloud and streaming entertainment experience to consumers, and they've backed it up with great technical solutions from a great engineering team,"said TJ Kang, senior vice president of Samsung Electronics' media solution center. Samsung overtook Nokia as the world's largest handset maker for the first time in the first quarter this year. Shipment of Samsung mobile phones was estimated to reach 93.5 million units in the three months ending on March 30, larger than Nokia's 82.7 million units.