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Samsung Electronics Denies Rumors about Its Automobile Manufacturing
Clearing Off Rumors?
Samsung Electronics Denies Rumors about Its Automobile Manufacturing
  • By Kim Eun-jin
  • August 22, 2018, 12:26
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Samsung Electronics denied the speculation that it might resume the automobile manufacturing business.

Samsung Electronics has denied rumors that it would build vehicles. “There are some rumors that we will manufacture fully built vehicles such as electric vehicles and self-driving cars, but the rumors are not true at all,” it said on its intranet.

Earlier, on August 8, Samsung Electronics selected artificial intelligence (AI), 5G communications, biotechnology, and semiconductor-centered automotive electronics as its new growth drivers. According to its plan, the company is going to develop its automotive electronics technology by means of systems-on-chip (SoCs) for autonomous driving so that its semiconductor, information and communications, and display technologies can be further applied to automobiles. After the announcement, some speculated that the company might return to the fully built vehicle market.

More recently, however, Samsung Electronics denied the speculation, saying that it would neither acquire an automaker nor manufacture fully built vehicles. “We will move ahead with our automotive electronics business based on semiconductor technology so that our future competitiveness can be further enhanced and the local ecosystem for innovation can be further enriched,” it added.

The company said the announcement was intended to prevent its executives and staff members from being misled by the ill-founded rumors.