Monday, November 14, 2016

Samsung Buying Car Tech Company Harman

$8 Billion

Throwing money around for companies that can move them ahead. This is Microvision's space.

Reuters  - More at source

"Harman was missing, in our opinion, a meaningful presence in displays and cockpit electronics; Samsung has these," Baird Equity Research said in a report.

But investors in Samsung had reservations about the purchase price.

"Samsung is using its huge cash pile to pull ahead of rivals in the auto technology market. But it remains to be seen whether Samsung will be able to grow into a company that will be able to compete with the likes of Bosch and Continental," said fund manager Park Jung-hoon of HDC Asset Management, which owns Samsung Electronics shares.

Harman's products, which provide infotainment, telematics, connected safety and security services, are used in more than 30 million vehicles made by automakers such as BMW, Toyota Motor Corp and Volkswagen, according to its website.
Harman earns around two thirds of its revenue from its automotive-related business, and its automotive order backlog as of end-June stood at $24 billion, more than three times annual sales of $6.9 billion in fiscal year 2016.

Microvision in Laser HUD market

Microvision / STM Laser HUD market

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