Samsung to establish auto components business

In the first official announcement of its interest in the automotive business, Samsung Electronics has said it will set up a team to develop next-generation auto parts for
making components used in self-driving and Internet-connected cars.

The new team will be separate from the company’s existing three business units, the South Korean company said in a statement, with initial focus on in-car entertainment, satellite navigation and autonomous driving technologies. The team will also work with other technology arms of the Samsung Group.

Samsung is the world’s largest maker of smartphones, and currently has a mobile unit, a components unit that makes chips and displays, and a consumer-electronics unit for televisions and washing machines.

The move follows efforts by Google Inc. and Apple Inc. to develop futuristic cars of their own.