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Samsung Sees "Fiat chrysler" As Its Way Into Automobiles | Mobile phone latest news Google+ Follow Smartfonefreaks on Twitter


Samsung considers venturing into automobiles.According to Bloomberg's report Samsung is to buy some or all of the operations of auto-parts maker Magneti Marelli from Fiat Chrysler Automobiles NV.which provides lighting, in-car entertainment and telematics to OEMs for use in their vehicles.

The deal could be worth more than $3 billion with a goal of closing this year making it the biggest deal for fiat since october 2014.

This is a profitable idea from samsung as it will help them gain more ground in the tech world,not just having a reputation of making smartphones and electronics.

Vice Chairman Lee Jae Yong, 48, is reshaping South Korea’s biggest company,Lee, who has been a director of Fiat Chrysler’s controlling shareholder Exor SpA since 2012, would also position his company to benefit from the rising interest in cars from technology companny.

Lets see this as a progress from samsung as a step  into grater technology advancement.

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