A new and improved e-Book service from Samsung is under preparation and will be available soon.
There's not much to go on here, but it looks like Samsung has noticed the revenue slipping through their fingers and decided to do something about it. They're going to be getting their ebooks from elsewhere, and they might even be going for a richer format like Blio. But we'll have to wait and see about that.
I wasn't aware that Samsung had an Android app tied to the Kobo ebookstore, but I did know that early last year Samsung launched their own reading app on their WP7 smartphones. That app was also tied to the Kobo ebookstore. IMO the WP7 is the much more interesting story today. You see, there's no Kobo app for WP7, so if Samsung drops that ebookstore then all the users of the WP7 app are going to be in a world of hurt.
The last I heard was that Kobo didn't plan to develop a WP7 app, but that info is old. Now that Kobo belongs to Rakuten they can probably afford to expand their development efforts.