Samsung focuses on vehicle market

SamsungGiant South Korean company Samsung will invest in so-called connected vehicles as it attempts to diversify its business lines.

According to the Korea Times, a Samsung official said it is looking for businesses that match its own manufacturing and components and one of those markets is connected vehicles.

Samsung believes that connected vehicles, offices, and home appliance are the coming wave.

It has already started discussions with possible partners working on this type of technology in Silicon Valley.

Samsung doesn’t intend to build the vehicles themselves but thinks that as the electric vehicle market develops, it will be able to supply manufacturers with a number of important components. The company faces increased competition in markets that were cash cows, such as smartphones.