Samsung confirms acquisition of Harman for $8 billion
Mobile giant Samsung has confirmed that it will be acquiring Harman – the designer and maker of connection products for automakers, also known for it’s headphones and speakers, for around $8 billion. With more than 30 million cars equipped with Harman connected car equipment and deals with vehicle makers including Chrysler, Jeep, BMW, Mercedes-Benz, Mini and Volvo, it’s safe to say the acquisition will provide Samsung with a strong foundation for growing it’s automotive platform.
“The vehicle of tomorrow will be transformed by smart technology and connectivity in the same way that simple feature phones have become sophisticated smart devices over the past decade,” – Young Sohn, President & Chief Strategy Officer of Samsung Electronics
More and more tech companies are taking interest in the automotive market, Google for example is currently working on building prototype vehicles that are ‘self-driving’ and has already successfully achieved more than 2 million ‘self-driven’ miles. Apple on the other hand may have had less luck building their electric car also known as ‘Project Titan‘, with rumours suggesting a change of course to instead work on delivering automotive software – potentially giving Samsung some direct competition.
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