Samsung has announced that it will set up a business that will focus on producing parts for the automotive industry. It would mainly concern technology for self-driving cars.
The new division will be part of Samsung Electronics, but will operate separately from the existing business units, which respectively make smartphones and tablets, chips and displays, and consumer electronics such as televisions and washing machines. According to The Wall Street Journal, the new part will mainly work on technology for self-driving cars. Samsung would also like to make other electronic components such as entertainment and navigation systems.
The new business unit will collaborate with other subsidiaries of parent company Samsung. For example, the South Korean company also has a division that makes batteries for electric cars. Samsung even produces its own cars in South Korea, since 2000 in collaboration with Renault. However, the new business unit has no direct link with Renault Samsung Motors, as it falls under Samsung Electronics.
Samsung’s plans fit in with the trend that more and more tech companies are focusing on the automotive market. Google has been working on self-driving cars for years and there have been rumors about an electric car from Apple for a long time. The iPhone maker would like to have it ready in 2019. Samsung has previously partnered with automakers such as Jaguar and Toyota in an effort to bring its operating system Tizen to cars.