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[Alpha Biz=(Chicago) Reporter Kim Jisun] Samsung Electronics and LG Electronics will participate side by side in the international motor show "iAA Mobility 2023" to be held in Munich, Germany on September 5∼10.
The global market for future mobility is growing rapidly. According to U.S. market researcher Strategy Analytics (SA) on the 6th, the global automotive parts market is expected to reach $181 billion this year, surpassing the smartphone parts market ($178 billion). SA predicts that the electric device market will reach $ 323 billion in 2028 and grow at an annual average rate of more than 14% by 2029.
Samsung Electronics' device solution (DS) division in charge of semiconductors, electronics and audio subsidiaries Harman, Samsung Display, and Samsung SDI will participate in the motor show.
Harman posted sales of 3.5 trillion won and operating profit of 250 billion won in the second quarter of this year, up 17.4% and 150%, respectively, from a year earlier. Last year, it recorded the highest annual sales of 13.21 trillion won and operating profit of 88 billion won.
Samsung Electronics has been consigned to produce high-performance autonomous semiconductors for Tesla electric vehicles since 2019. In June, the company joined hands with Hyundai Motor to supply the Exynos Auto V920’, a premium infotainment processor, in 2025.
Cho Joo-wan, president of LG Electronics, said in a recent press conference, "We will grow into a top global company in the future mobility market with sales of more than 20 trillion won by 2030."
It is predicted that LG Electronics' order backlog will reach 100 trillion won at the end of this year. In the second quarter of this year, VS business headquarters posted an operating loss of 61.2 billion won, but it reached a record high in the second quarter with sales of 2.6645 trillion won and operating profit of 89.8 billion won, except for General Motors' Chevrolet Volt EV recall material cost increase of 151 billion won.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
