Samsung-keeps-diversifying
Courtesy of Samsung Electronics

Tech giant lays eyes on automotive components

Samsung Electronics continues to try to diversify its revenue sources to reduce its high dependence on memory chips. Samsung is the world’s largest maker of memory chips and smartphones.

The Seoul-based company said May 13 that it has received the ISO 26262 certification for functional safety in automotive components from TUV Rheinland, an authoritative third-party certification company.

The accreditation seems to help the tech giant strengthen its competitiveness in automotive semiconductors such as processors, image sensors, memory and LED solutions.

Samsung Electronics has put out all the stops to find new cash cows other than memory chips whose global demands are highly volatile. For one, it vows to shell out big bucks to develop non-memory chip businesses.

TUV Rheinland provides independent testing and inspection services that stand by quality and safety,” TUV Rheinland manager Manuel Diaz said.

Samsung has successfully built its management system that will provide semiconductor solutions meeting the functional safety requirements for today’s automakers.”

Samsung Vice President Kenny Han also welcomed the news.

Safety is a top priority, especially when it comes to tomorrow’s automotive vehicles, and our ISO 26262 certification is an exciting stem that secures functional safety in Samsung’s advanced automotive semiconductor solutions,” he said.

We expect that the new ISO 26262 certification will drive momentum for our comprehensive lineup of innovative semiconductor solutions in the automotive market.”

The ISO 26262 for automotive functional safety was set up in 2011 in order to minimize risks from electric or electronic system malfunction in cars.

In a related move, Samsung spent $8 billion to take over Harman International Industries, a U.S. automotive part supplier, two years ago.

Founded in 1925, the firm has gained fame as a manufacturer of premium audio products before advancing into the automotive parts business. Now, more than 60 percent of its turnover comes from the automobile business.

 

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