EditorialsPH Digital and Tech

Samsung Announces Its Acquisition of Harman

digital-handshake

That will be $8 Billion, Please.

Samsung may not be having the best of luck this year — having had to recall what was one of the strong contenders for 2016’s smartphone of the year, the Galaxy Note 7, and a recall for their top loading washing machines that managed to break someone’s jaw — but that doesn’t mean they aren’t moving forward with their chins held high.

Yes, they have some work to do in terms of earning back their customers trust and, in a press release detailing their dip in profits for the third quarter of 2016, said that they would do so by “focus on expanding sales of new flagship products with differentiated design and innovative features.” Perhaps this latest bit of news contributes to that statement, as Samsung has just come into an agreement to acquire Harman, makers of audio systems: Harman Kardon, JBL, AKG, and many others, for $112 per share that ultimately amounts to $8 Billion in total.

Harman is also known for being an industry leader for connected car technology and while the headline of the press release by the Korean company states that they wish to grow their automotive and connected car technology through this deal, they also mention that the brands under Harman’s belt would greatly enhance Samsung’s mobile, display, VR, and wearable divisions as well. Who knows, Harman Kardon audio tech may just make it onto the spec sheet of the Samsung Galaxy S8.

Read: More Samsung Galaxy S8 Rumors: A Powerhouse with 4K Display, Exynos 8895, 8GB RAM?

Read: Uh oh… Samsung Issues Recall for 2.8M Top-Loading Washing Machines

Read: Samsung Profits Down by 30% Due to Note 7 Snafu

Source: Samsung

Jamie Inocian

A self-confessed geek. Jamie started out helping out on the Unbox Podcast and became the Digital Sales Manager when he joined the team full time. He has since then transitioned into one of our Senior Editors and Head Video Producer.

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