Posted January 12, 2013 by Sophia.Mark in Technology

iD technology to help retailers says Billionaire Soon-Shiong- AAPL, AMZN, CELG, BBY, JAKK, & DIS


Northern, WI 1/12/2013 (avauncer) - The billionaire Patrick Soon-Shiong announced the existence of his iD technology. It is a software that recognises products in real-time. Soon-Shoing also explained how iPads and iPhones by Apple Inc. (NASDAQ:AAPL) can make use of the iD software via his NantWorks LLC. The decade-old technology that had originally been developed for NASA, can now be used commercially

Not just a showroom

Most people walk into retail stores like Best Buy Co. (NYSE:BBY) only to get a feel of the product. They mostly end up buying the same products at better prices via online stores such as Amazon.com Inc. (NASDAQ:AMZN). This technology can recognize buildings and retail outlets and offer customers coupons. Pointing the device at packaged products can give shoppers discount and nutritional data information. This will help retailers move from being just a showroom to being a theme-park.

A vision beyond vision

Soon-Shiong is worth close to $7.1 billion and ranked at no: 47 in the list of richest persons as per Forbes list. In 2008, his APP Pharmaceuticals Inc. sold for $4.6 billion, to Fresenius SE and in 2010 Abraxis BioScience Inc was sold at $2.9 billion to Celgene Corp. (NASDAQ:CELG). ID technology was initially meant to assist visually-impaired people in that they would be able to hear the names of the product that they held the device to.

A decade old and going strong

NantWorks in conjunction with Jakks Pacific Inc. (NASDAQ:JAKK), the California based DreamPlay Toys giant is using advanced digital cameras and processors with this decade-old technology, in toys, thus bringing it into commercial use. A toy venture with Walt Disney Co. (NYSE:DIS) has been announced this week.

Soon-Shoing holds a $25 million, 9 percent share in Jakks. Real-time images can be internet-linked to objects and applied to Web search. Newspaper articles can be linked to related live-newscasts and it can recognize literally millions of video images and 3-D objects.

Shares of Apple Inc. (NASDAQ:AAPL) were down by 0.61% to close at $520.30

Shares of Best Buy Co. (NYSE:BBY) were up by 16.38% to close at $14.21

Amazon.com Inc. (NASDAQ:AMZN) were up by 0.98% to close at $267.94

Celgene Corp. (NASDAQ:CELG) were up by 0.86% to close at $96.30

Jakks Pacific Inc. (NASDAQ:JAKK) were up by 0.55% to close at $12.77

Walt Disney Co. (NYSE:DIS) were down by 0.41% to close at $50.58.


Sophia Mark is from Moore, Oklahoma. Sophia Mark is a also contributor for majore news media houses. Sophia Mark has a huge interest in the world of technology, home theater, video gaming and sports. Sophia loves writing and enjoys sharing her knowledge on all of these subjects. Sophia is also Experienced international budget traveler, writer and editor. College administrator, MBA and Doctorate,education expert, management and leadership consultant.