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Samsung bought Harman, not M/M

by David Zatz on

Earlier this year, rumors flew that Samsung was planning to spend billions of dollars on Magneti Marelli’s telematics business. The South Korean company is instead buying long-time Chrysler partner Harman, based on Stamford, Connecticut.

Magneti-Marelli-FSBO-Web

Harman International Industries has revenue of $7 billion per year in automotive, making touch screens and automotive sound systems, and programming in security measure and “over the air” software updates. Its brand names include Infinity, JBL, Mark Levinson, and Harman Kardon, and its products are in 30 million cars.

Samsung also makes displays and computer processors, and may find it easier to conquer the automotive market using the familiar Harman brands. The company reportedly plans to keep Harman intact and relatively independent, with American branding.

Samsung appears to be trying to follow Apple, moving from computer and processor parts by buying the original creators of Siri, a cloud company, phone payments company, and connected-home company; and has been moving into autonomous cars.

The move suggests that FCA isn’t planning to sell Magneti Marelli after all.


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