Samsung buys $8bn car tech maker Harman in its biggest ever deal

Samsung has agreed to buy the car electronics company Harman for $8bn (£6.4bn), the biggest acquisition in the Korean group’s history and a bold move into automotive industry.
The deal marks an attempt by Samsung to move on from the crisis that has surrounded it since it was forced to recall millions of potentially dangerous smartphones last month.
Harman, headquartered in Connecticut, is an electronics giant whose products range from speakers to guitar pedals, but the majority of its sales are in the “connected car” - music systems, satellite navigation and security features.

It typically sells directly to car makers including Land Rover and Mercedes, which install the electronics in their vehicles before they are sold.
Samsung said the market was a “strategic priority” that would be worth $100bn by 2025. The company has made previous strides into connected cars, setting up a division focused on the market last year and recently investing in BYD, a Chinese electric vehicle company.
Many electronics companies see the car as an opportunity for the next consumer electronics boom, as vehicles receive the same internet connections and high-powered processors that have made it into smartphones.