Sam­sung ups $8bn tech bet

The Star Late Edition - - BUSINESS REPORT -

SAM­SUNG Elec­tron­ics is up­ping its $8 bil­lion (R104.63bn) bet on au­to­mo­tive tech­nol­ogy, form­ing a sep­a­rate busi­ness unit within Har­man to house au­ton­o­mous driv­ing prod­ucts and plow­ing $300 mil­lion into a new fund in­vest­ing in start-ups in the space. The au­ton­o­mous driv­ing unit will com­pete on ev­ery­thing from driv­ing al­go­rithms to sys­tems in­te­gra­tion, Di­nesh Pali­wal, Har­man’s chief ex­ec­u­tive, said. “Our in­dus­try is lit­er­ally scream­ing: ‘We love Mo­bil­eye, but we need an open plat­form’,” Pali­wal said. “Com­pe­ti­tion is the best thing ever.” – Bloomberg

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