Samsung gets in on internet-connected cars

The electronics giant Samsung is buying US-based Harmon International Industries, a producer of automotive electronics, in what the company says is a sign that it wants to enter the market of providing technology for connecting automobiles to the internet. The BBC said on Monday that Samsung had purchased the the company for USD 8 billion, as part of its push to feature more prominently in the so-called Internet of Things. The deal represented the largest overseas purchase in history by a South Korean company. The report said that Samsung hopes to recover from the cancellation of its Galaxy Note 7 smartphone, which was plagued by safety problems after several of its models caught on fire. “The vehicle of tomorrow will be transformed by smart technology and connectivity in the same way that simple feature phones have become sophisticated smart devices over the past decade,” Young Sohn, Samsung's president and chief strategy officer, said in a statement. Internet-connected cars will improve in-car entertainment, and will help with diagnosing engine problems and other safety-related concerns. The deal will be completed mid-2017, the report stated.