Samsung to develop self-driving car components

Samsung is the latest tech company to join the automotive industry. The South Korean tech giant has announced that it will set up a new division of its business that will focus on autonomous driving technology and entertainment systems used in self driving cars, reports WSJ.

The newly established automotive division will create a team that will develop auto components focusing on various aspects related to the smart car including infotainment, autonomous driving and satellite navigation component. The new team will work with other Samsung teams to develop technologies that could be used in self-driving cars in the near future.

The automotive division will be headed by Executive Vice President Jonghwan Park and overseen by Vice Chairman & CEO Kwon oh-hyun.

Samsung the world's larget smartphone manufacturer currently has a mobile unit, a component unit that makes chips and displays, and a consumer electronics unit for television and washing machines. Samsung is under pressure as its smartphone division has been struggling, and the company may see the auto industry as an opportunity to cover the loses. In the 90s Samsung had an auto manufacturing business, but the venture went bankrupt in the aftermath of the 1997 Asian financial crisis

Technology companies have been showing their interest in auto technology and some have even formed partnership with automakers to make components for them. Google has been testing self-driving cars for six years and has now started testing it. In May, the company unveiled a self driving car prototype without steering wheel and brake. Apple is also reportedly working on self-driving cars, but the company already develops software for automakers called CarPlay that lets drivers to operate an entertainment system.