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December 10, 2015 09:03 am GMT

Samsung joins the self-driving car race

Samsung

SEOUL, South Korea — Samsung Electronics said Wednesday it will set up a team to develop an auto components business focusing on autonomous driving technology and entertainment systems.

Kwon Oh-hyun, a vice chairman who has long managed Samsung's electronics component business, will oversee the new team.

See also: Samsung surprises, but its Galaxy is still shrinking

The announcement comes as Samsung is under pressure to find new businesses to offset sagging profit from its smartphone sales.

Technology companies have been expanding into aspects of auto technology and some have formed partnership with automakers. Read more...

More about Samsung, Tech, and Self Driving Cars

Original Link: http://feeds.mashable.com/~r/mashable/tech/~3/_kAP6Z69qlo/

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