In-Car Stuff Beckons Samsung
Samsung is said to be in advanced talks to buy some or all of the operations of auto-parts maker Magneti Marelli from Fiat Chrysler.
The bits that interest Samsung are believed to include Magneti Marelli’s lighting, in-car entertainment and telematics businesses.
The deal could be worth more than US$3 billion (A$4 billion), with a goal of closing this year. That would make it Samsung’s biggest-ever acquisition outside South Korea.
A move into automobile components would help decrease Samsung’s reliance on consumer electronics. Vice-chairman Lee Jae Yong, 48 is trying to restructure the company as he takes on more responsibilities once held by his father. He has sold off assets and narrowed the conglomerate’s scope as he seeks to have the company bounce back from a downturn in the smartphone business.