Samsung Electronics and Harman International Industries are developing new technological solutions aimed at the entertainment and signage business, with the two firms already showcasing a number of their products and services to potential clients last month, industry sources with knowledge of the situation said on Friday. The technologies demonstrated by the companies were likely in development since late 2016, shortly after the South Korean conglomerate announced its $8 billion purchase of the Stamford, Connecticut-based electronics manufacturer, its largest foreign acquisition in history.
One of the highlights of Samsung and Harman's present collaboration is a new hotel system allowing for easy control of various facilities and devices through a combination of Harman's voice recognition technology and Samsung's motion-detecting sensors. The solution is said to enable easy management of everything from TVs to curtains, though specifics regarding its implementation remain unclear. The two tech giants are also said to have developed a theater entertainment system that will be offered to clients later this month, industry sources said, without providing a more concrete timeframe for its launch. Samsung and its subsidiary are now turning to other segments including retail, education, and transportation, with the companies being adamant to increase their presence in a wide variety of industries, subsequently diversifying their revenue streams and making their businesses even more sustainable and resistant to sudden trend shifts in individual industries by not being overly reliant on any particular one.
Some industry analysts expect Samsung's Q2 2017 financials to detail Harman's market performance and provide a more thorough breakdown of the U.S. firm's operations. While the company's business results were already included in Samsung's first-quarter financials, they weren't reported individually due to the fact that the acquisition itself was only officially concluded in March. Samsung's new subsidiary is meant to collaborate with its parent firm on numerous fronts in the future, with the company initially being acquired to bolster the Korean tech giant's offerings in the automotive electronics segment. The acquisition is also likely to reflect on Samsung's Internet of Things (IoT) business, though Harman is still operating as an independent entity that collaborates with Samsung through joint projects and isn't micromanaged by the Seoul-based conglomerate.