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Samsung to buy American car parts maker for US$8b

Korea firm says deal will give it significant presence in global market for online-connected car parts

Published Tue, Nov 15, 2016 · 09:50 PM
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Seoul

SAMSUNG Electronics said on Monday it would buy US car parts maker Harman International Industries for US$8 billion in a bid to enter the growing market for automotive technology to produce "connected" cars.

The deal, the biggest in the South Korean firm's history, will provide a chance for the tech titan to move past the exploding Galaxy Note 7 crisis that is expected to cost it billions of dollars as well as its cherished reputation.

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