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Samsung Announces Development of Smartcar

Samsung will be joining the ranks of tech giants in the race for becoming the first company to produce a true smart on the road.

Some of the known names of tech companies who have no history in automotive development and is now heavily invested in the next generation of automobile are Google, Apple, NVidia, Microsoft and Samsung.

Source: Google
The announcement was made during CES today. At CES 2015, Yoon Boo-keun, president of the company's consumer electronics division, spoke on the importance of converging devices and platforms using the IoT.

Samsung is partnering with BMW on smart vehicles. The two held a special event in which a BMW was driven using Samsung's Gear S wearable device while Yoon was giving the speech. He also pledged the company will connect all its smart devices via the IoT by 2020.

A Samsung Electronics spokeswoman said, "We have invested and developed platforms where our apps or wearable devices can be interconnected to vehicles' information services."

A few weeks ago, Samsung also announced a partnership with Volkswagen’s Audi unit to supply memory chips for dashboard, infotainment and advanced driver assistance applications.Keep in mind that according to projections from research firm Gartner, the global automotive semiconductor market is anticipated to mushroom to $32.7 billion by the end of 2016.

Local tech giants are also seeking to play a central role in the next-generation vehicles industry at the tech exhibition.

In particular, LG Electronics has identified the industry as its one of key growth areas. In 2013, the company established a vehicle components division in a strong bid to lead the IoT-converged vehicles industry.

The company is supplying parts to Volkswagen and General Motors. The electronics affiliate of LG Group has also signed a deal with Google to supply battery packs for the Internet company to develop self-driving cars. LG has also forged a technical tie-up with Mercedes Benz.

Other LG affiliates are seeking to join the smart-vehicles industry. LG Chem is the world's leading supplier of batteries for electric vehicles (EV), with LG Display supplying panels for vehicles' smart information systems.

Samsung Announces Development of Smartcar Reviewed by Brandon on 3:43 PM Rating: 5

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