By launching a division to produce components for other vehicle companies like Apple, Samsung will build its own business, which will manufacture car parts for other companies, begenning with in-car infotainment gear. Although, Apple has its own plans in designing a self-driving car and Google’s are already cruising the streets and today another giant from South Korea wants to jump into the self-driving car bandwagon by building a new division focused on car-related projects. Details on this have been placed below.
According to the release, Samsung’s eventual aim is to branch out into the components necessary to build autonomous vehicles for other companies. This move follows that of its local rival LG, which formed a vehicle components division in 2013 and is now gearing up to produce components for car companies.
How that it happened? This move from Samsung into the automotive components business comes at a time when its smartphone arm is suffering. It doesn’t sound like the company has plans to release a Galaxy Car any time soon. No necessarily, the team will focus on individual features like autonomous driving, satellite navigation and in-car entertainment, whatever.
First and foremost goal is to achieve the target by securing a place in the auto industry and establish a new source of revenue. The team will work outside of existing divisions to increase car components sales, but it will also cooperate with other technology units in the Samsung Group on these products. Self-driving cars share more than a few components with smartphones, so it makes sense that Samsung’s know-how would transfer across.
In addition, Samsung by producing the components for other automobile companies, still have a smaller element of risk factor, and that is if it attempted to go it alone straight out of the gate. Expertise in battery technology, GPS, mobile computing, wireless chips, touch screens and similar tech are all found in autonomous vehicles, so it should be fairly simple.
It was in 90’s when Samsung used to actually make cars, but the project was ill-fated, and the company launched Samsung Motors in 1994, and on time it had begun to produce vehicles, the 1997 Asian financial crisis forced it into a sale. That division was picked up by Renault, although Samsung maintains a 19.9% stake in the firm, as well as control over use of the same Samsung.
This is it! Whether the South Korean giant can compete with Google, Apple and Tesla along with more established car makers remains to be seen. Selfie, please.