It shouldn't come as a surprise to many people that the smartphone market has been cooling off considerably in the last few years. For companies that made most of their money in the smartphone industry, they have to find other ways to catch up. Apple has done a phenomenal job of working with the music industry, app creators, television, and there are many rumors about a smart car. It looks like Samsung is following their lead on that one.
Samsung is going to buy a stake in a Chinese automaker named BYD. The goal, at least at first, according to Engadget, is to boost the business relationship between the two companies, working to create better electric cars and smartphones. However, Samsung says that the two companies are also looking to partner up for "various businesses" that will go hand in hand with what both companies already do.
Samsung hasn't revealed what size of the stake they are taking, nor have they said what those projects will be. It isn't clear if they will be focusing a lot of their attention on BYD or whether they will take a backseat and provide technological assistance when needed.
Whatever the end result is, the electric car market is going to heat up very quickly with all of these companies coming forward to try to make a truly "smart" car. Samsung could provide a lot of information and supplies to BYD, including batteries and processors, which are some of the most challenging parts of a car.
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The question will be - who will create the better car: Apple or Samsung?