Samsung sees strong growth at auto electronics industry
Samsung Electronics expects strong growth at its audio and auto electronics unit Harman, which has put the company “firmly in the picture of the automotive industry as it eyes the autonomous car market", said during an intervention at the Web Summit Conference in Lisbon, Young Sohn, Samsung's Chief Strategy Officer.
The world's largest semiconductor manufacturer bought Harman last year for 8 billion dollars. "Two years have not yet passed since I bought it, but I would say the honeymoon is over. Now we're in business," said Sohn, who explained that he expects double-digit growth for the division, and Harman, known primarily for its audio speakers, has a wide range of products for the automotive industry that includes navigation services, on-board entertainment systems and vehicle networks.
In this last sector, Sohn said that Samsung is working hard: while the autonomous car technology is developing, the company collaborates with some of the major car manufacturers on the development of 5G networks, necessary for autonomous driving.