Samsung wants to get into the self-driving car business

9 Dec 2015 | Author: | No comments yet »

Samsung Electronics to form auto team in search of growth driver.

SEOUL— Samsung SSNHZ 0.00 % Electronics Co. said Wednesday it will establish a new team for developing next-generation auto parts, joining global technology heavyweights in betting on the automotive market to drive growth.SEOUL: Samsung Electronics Co Ltd said it will create a team to develop automotive-related businesses, as it searches for a new profit driver while struggles at its smartphone division deepen. The new team will be separate from the company’s existing three business units and will focus on making components used in self-driving and Internet-connected cars, the South Korean company said.

Samsung, in a statement, said the team will work outside of existing divisions to grow sales of car components, with initial focus on in-car entertainment, satellite navigation and autonomous driving technologies. Samsung, the world’s largest maker of smartphones, currently has a mobile unit, a components unit that makes chips and displays, and a consumer-electronics unit for televisions and washing machines. Electronics makers from Apple Inc. to Panasonic Corp., LG and Samsung are vying for slices of an automobile industry that expects to put autonomous, or driverless, vehicles packed with electronic sensors and displays on the road in this decade.

Executive Vice President Park Jong Hwan is going to lead this team, acting as intermediary between battery maker unit Samsung SDI Co., and software servicer Samsung SDS Co. The announcement is the company’s first official acknowledgment of its interest in the automotive business where information technology is expected to play an increasing role in the gradual shift toward next-generation cars including electric vehicles and self-driving cars. Meanwhile, market estimates suggest profit from smartphones – Samsung’s former cash cow – is set to fall in 2015 for the second consecutive year, putting pressure on the manufacturer to find new profit drivers. For Samsung, the effort is also a way to help make up for declining growth in televisions and a mainstay smartphone business that’s been battered by lower-cost rivals in China and India. “Samsung just can’t leave this huge market untapped,” said Greg Roh, an analyst at HMC Investment Securities Co. in Seoul.

US patent filings data compiled by Thomson Reuters IP & Sciences showed increasing efforts by the world’s top smartphone maker and its affiliates to push into the rapidly growing market for automotive components, software and services that is worth around US$500bil (RM2.13tril). Samsung formed an alliance with Volkswagen AG’s Audi unit to provide memory chips for the company’s dashboard, infotainment and advanced driver assistance applications, the South Korea-based company said Nov. 23.

LG is supplying 11 systems for the new Bolt, General Motors Co.’s electric car, including the electric-drive motor, charger, batteries, the companies said in October. SK Securities analyst Kim Young-woo said while Samsung Electronics is moving in the right direction, Samsung Group as a whole needs to combine key component-making operations under a single umbrella in order to succeed.

CEO Elon Musk tweet on November 20, 2015 said that Tesla is “ramping up the Autopilot software team at Tesla to achieve generalized full autonomy.” The automaker is expanding its auto-pilot engineers team for the fully autonomous cars. No prior experience with cars required.” Southwest Airlines Co (NYSE:LUV) stock is losing value today because the company has gone back on its passenger revenue per available seat miles (PRASM) growth forecast.

Within year-to-date (YTD) statistics until November 2015, the company revealed 107.5 billion RPM against 98.8 billion RPM flown during the same period last year. The company had proposed, among other things, increased wages and retirement contribution, improved flying schedules and work rules, pilot subsets changes for international and 737-MAX flying. The Railway Labor act, which now covers US airlines states unions may not call for strike unless the US National Mediation Board (NMB) rules talks have reached a stalemate.

Here you can write a commentary on the recording "Samsung wants to get into the self-driving car business".

* Required fields
All the reviews are moderated.
Twitter-news
Our partners
Follow us
Contact us
Our contacts

dima911@gmail.com

ICQ: 423360519

About this site