Samsung Said to Be Exploring Acquisition of Fiat's Automotive Lighting and Electronics Division

In response to a saturated smartphone market and declining sales, Samsung Electronics is looking to acquire Fiat Chrysler Group’s automobile component manufacturer, Magneti Marelli, for around $3 billion. This potential acquisition, aimed at diversifying its market segments into automotive technology, has gathered attention as Samsung focuses on areas like lighting and in-car entertainment. Reports indicate that a deal could be finalized by the end of the year. The automotive sector is rapidly evolving, with significant investments from tech giants like Google and Apple into self-driving cars. Samsung has already taken steps in this direction by forming an auto parts management team and investing in electric vehicle manufacturer BYD. Following the merger news, Fiat Chrysler’s stock rose significantly, while Samsung also reported an increase in its smartphone market share in North America, reclaiming the top position over Apple.

Samsung Said to Be Exploring Acquisition of Fiat’s Automotive Lighting and Electronics Division

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