Apple is yet to confirm its Titan car project, but there’s plenty of evidence that suggests the iPhone maker is eying the car industry for some sort of disruption in the future. Apple isn’t the only tech company looking to create smarter cars, with Google already testing self-driving technology on its own car.
While Apple has not announced anything regarding its car platform, Samsung on Wednesday confirmed it plans to enter the car business in the future. Many would rightly say that Samsung is also ready to go where Apple is heading, as the South Korean giant has been a close Apple follower in the past few years, ever since Apple revolutionized the mobile landscape with the iPhone.
But Samsung’s decision to attack the car business makes plenty of sense, as the company is struggling to find a new growth driver now that its mobile division isn’t performing as well as in the past few years.
According to Reuters, Samsung is eying the rapidly growing market for automotive components, software and connected services that’s worth around $500 billion.
The company will create a team that will develop automotive-related businesses, focusing on various aspects related to the smart car, including infotainment, satellite navigation and autonomous driving.
The team will work outside of existing divisions to increase car components sales, but it will also cooperate with other technology units in the Samsung Group on these products.
It’s too early to tell when a Samsung car will hit the road, but Samsung will initially provide components to carmakers that are also working on smarter cars. Investors and analysts believe that Samsung can become a major force in the car business, thanks to its various divisions that can provide advanced chips, displays and batteries to carmakers. Samsung could use the same tech to create its own smart car in the future.