SEOUL, Mar. 15 (Korea Bizwire) — U.S. automotive electronics firm Harman International Industries Inc. has made major progress since being acquired by Samsung Electronics Co. last year, industry watchers said Thursday.
Earlier this month, Harman International clinched an agreement with Groupe PSA, a major French carmaker, to roll out joint research on cybersecurity solutions at the 2018 Geneva Motor Show.
Harman International also said it was recognized at the 2018 Daimler Supplier Awards for its “outstanding technology and innovation to realize the all-new Mercedes-Benz User Experience infotainment system.”
Other updates from Harman International include its supply of a “digital cockpit” based on artificial intelligence to a major global carmaker, a technology jointly developed with Samsung. Harman did not specify the buyer.
Industry watchers said Harman’s latest achievements after becoming a wholly-owned subsidiary of Samsung Electronics are presumed to have improved its corporate value and potential.
Samsung bought full stake of Harman, a major maker of in-car entertainment systems and car audio equipment, for US$8 billion.
“When Samsung purchased Harman a year earlier, it bought shares with a premium of 28 percent,” an industry watcher said. “But considering the latest rise of automotive firms’ share prices, along with the sharp expansion of the market, the gains will hover above the premiums.”
The global automotive electronics market is expected to grow 13 percent annually through 2025.
“Our devotion to deliver a future which seamlessly connects consumers and enterprises across automotive, the home, mobile and office is unstoppable. The past year has seen considerable progress and innovation across all markets, and the coming years promise even more cutting-edge developments,” Harman International said on its website earlier this week.