Samsung Electronic today dismissed the notion that it's working on a Facebook-like service.
To make sure there wasn't any confusion, the company posted the denial on its official global blog, calling the speculation and rumor "groundless."
The Korea Times was the first to stir up the rumor, reporting that the technology giant would make its first foray into social networking next year. The report was subsequently picked up by other media outlets.
Running a social network, which relies on advertising, would make little sense for a consumer electronics company accustomed to selling hardware. Despite Samsung's size and reach, it's unclear whether it could attract the droves of users that a Facebook can.
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The company has been successful at selling televisions, and is a dominant player in the smartphone arena. But the company hasn't shown a willingness or ability to offer social networking services.
Much of the speculation was based on the belief that Samsung would turn its "Family Story" service into a social network. Samsung noted the service has been around since February, and is meant to tie together its television, smartphones, and tablets with the Internet. The service is focused on the family and allows members to share files and pictures.
Samsung said it was working to upgrade Family Story, but denied that the upgrades would turn it into a "Samsung Facebook."