Sberbank , Russia's dominant lender, is planning one of the biggest reinventions in its 179-year history as it seeks to join the likes of Apple and Google in the global pantheon of Big Tech.
"It's a huge investment, not a big investment. Even for a successful company, it's a huge investment," he said about the new range of gadgets and tech services, a potentially risky bet in an increasingly competitive market of domestic and foreign players. He declined to disclose the specific amount. Sberbank announced the logo change and is unveiling the range of devices and services on Thursday at SberConf, a virtual event modelled on product launches by global technology firms.Among Sberbank's new gadgets are SberBox, a TV streaming device, and SberPortal, a smart speaker with a screen attached which provides gesture and voice recognition.
The company's SmartMarket, meanwhile, will have coding tools available for businesses and entrepreneurs to produce their own apps and a revenue-share model where Sberbank will only take money from apps that charge money. Amazon does not have a big presence in Russia, whose sheer geographical size makes logistics daunting, Microsoft's LinkedIn is blocked after a court found it breached the data storage rule, while domestic players dominate web searches and social networks.
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