Samsung car? Don’t worry yet!! The company is not made its intentions clear about making a car neither have snoopy eyes caught anything of that sort. Samsung is buffing up its technologies game to spread its business in the automotive electronics segment. Samsung invests in developing car technology.
Data compiled by Thomson Reuters IP & Science shows the world’s top smartphone maker and other Samsung Group tech affiliates are ramping up research and development for auto technology, with two-thirds of their combined 1,804 U.S. patent filings related to electric vehicles and electric components for cars coming since 2010.
The car of future will have less of mechanicals and more of electrical and electronic gizmos. The company is lured by the future of electronics in this segment and is trying to beat rivals at this game. The company though has not landed any business as of now.
Cross-town rival LG Electronics announced a major supply agreement with General Motors in October, sending LG’s shares surging while U.S. chipmaker Nvidia Corp, known for graphics processors that power games consoles and laptops, says its chips will be in more than 30 million cars in the next three to four years.
Samsung Electro-Mechanics recently formed a dedicated team to sell components such as camera modules to new auto clients and says it would consider acquisitions to boost car-related businesses. Samsung patent filings show a wide range of technologies including a drowsy-driving detection system, an alert system for break-in attempts and a transparent display for directions and traffic information. Samsung Display has also cited the auto industry as a potential growth area and has been testing its organic light-emitting diode (OLED) displays with BMW and auto parts maker Continental.
Product development cycles in the auto industry are far longer than in consumer electronics, and carmakers are cautious about adding suppliers without a track record and cracking the nut would be tough even for a global giant like Samsung.