Samsung Electronics on Friday underlined the importance of the Internet of Things (IoT) and announced increased investmemnts in the sector. "We will strengthen our future competitiveness by aggressively pursuing new businesses like IoT including smart health and smart homes," Samsung Electronics Vice Chairman Kwon Oh-hyun said in a New Year message to employees Friday.

"It's fair to say that Samsung is feeling a sense of crisis amid changing market conditions. Our corporate sustainability will depend on our efforts to find new business opportunities and to generate profits."

With IoT, the Samsung's executive identified home appliances, networks, printing and devices for corporate clients as potential revenue sources.

"Samsung faces unfavorable market conditions and fiercer competition. Investors and shareholders are calling for us to strengthen our competitiveness in traditionally-strong businesses, while we should keep an eye on what's next," he said.

"Our DNA was based on manufacturing. However, we need new DNA. We believe that we will be able to build an environment in which more creative talent will be able to freely participate," he said.