Apple is rumored to be working on a secret car project, at the moment we don’t know whether it’s going to be a self-driving vehicle or an electric one. What is pretty obvious is that it’s definitely going to be a smart car, which could disrupt the entire industry.
Samsung and Apple are huge rivals, both at the forefront of the mobile technology industry, but it’s still quite hard to imagine Samsung producing a smart car right now. Samsung building a car may not actually happen, but the South Korean company has announced that it will set up a special team to develop components for autonomous driving technology and entertainment systems.
Reuters reports that one of the reasons Samsung is looking to develop an automotive-related businesses is because it’s currently struggling in the mobile market, so it’s seeking for new profit channels.
Samsung looking for new ways to drive profit
Executive Kwon Oh-hyun, a vice chairman who was responsible for the company’s electronics component business, will be heading the new team. The teams purpose is to produce entertainment and satellite navigation in conjunction with autonomous driving technologies.
Auto manufacturers are always seeking the latest and greatest technology for their cars, with Samsung’s market expertise in the development of chips and displays, the company could profit massively.
Another South Korean company, and the country’s largest auto maker, Hyundai, said it’s looking into the possibility of building its own chips and sensors to be used in smart cars. Hyundai also said it expects fully autonomous vehicles to be available by 2030.
A self-driving car is laden with technology , making it similar to a smartphone in ways. Self driving cars will need things like batteries, GPS, mobile computing, wireless chips and touch screens, seeing as Samsung is a leader in supplying these for smartphones, there’s a big chance for them to get in early on self driving car bandwagon.
On a side note, if you recall, Samsung actually used to make cars in the ’90s, having launched the Samsung Motors division in 1994, but the 1997 Asian financial crisis ended pretty much all of this endeavor.