Samsung also mulling automotive revenue – though a little late to the “party”

#hashtags: #Samsung Electronics #Reuters #Samsung

Samsung Electronics, the well known manufacturer of smartphones and electronic devices, as well as its group subsidiaries are now looking to expand their business in the field of technology for automakers. The belated push comes after main rivals have already nailed highly lucrative partnerships or deals with the industry forces. According to data gathered by Reuters, the world’s top smartphone maker and other Samsung technology affiliates are now increasingly researching and developing automotive technology – two-thirds of their tally of 1,804 patent fillings in the US being linked to electric vehicles and electronic components for cars introduced after 2010. And the data is only available before 2013 due to a time difference between filing and publication. It also appears the drive has not yet spewed any significant business deals, but the direction is obvious. Automakers are already increasingly dependent on technologies developed in house or by third parties designed to lift safety and deliver smartphone connectivity or better infotainment systems. According to ABI Research, the market for software, services and components in the auto industry is worth around $500 billion. The trend is to morph the vehicle into a software connected device – with implications towards car communication and autonomous driving as well as comfort and experience enhancement. South Korean rival LG Electronics is already in a major supply partnership with General Motors and US chipmaker Nvidia (best known for graphics processors) says its silicon chips will reach out to at least 30 million vehicles during the upcoming three or four years. Via Reuters