|14 November 2016|
Samsung Electronics has bought Harman International Industries in an $8 billion deal which will accelerate the development of connected technology in the car industry.
More than 30 million vehicles are currently equipped with connected car and audio systems designed and engineering by Harman, including embedded infotainment, telematics, connected safety and security. By harnessing Samsung’s expertise in connected mobility, semiconductors, user experience, displays and its global distribution channels – the pair will be able to develop exciting and innovative new products.
Young Sohn, President and Chief Strategy Officer of Samsung Electronics said: “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.”
Dinesh Paliwal, Harman Chairman, President and CEO, added: “Combining Samsung’s strengths in leading-edge displays, connectivity and processing solutions with HARMAN’s technology leadership and long-standing customer relationships will enable OEMs to provide new offerings for their customers.”