#Samsung Electronics is one of the largest smartphone makers in the world. Samsung is also well-known because of its impressive tablets and television screens. The company does not produce vehicles yet, but it acquired licenses to operate and test its upcoming autonomous driving vehicles in South Korea and California. According to a report from Venture Beat, Samsung Electronics is seeking to diversify into the growing autonomous driving industry. The company is investing a $300 million fund in creating an establishment that will specialize in developing self-driving cars.

Harman Company acquired

Earlier this year, Samsung acquired Harman, an American company that produces car navigation systems and car technology that will allow multiple vehicles to communicate with each other.

Samsung bought Harman for $8 billion. Samsung also announced that it had created a business unit within Harman to oversee autonomous driving. Harman is well known for its audio speakers, which derives 65 percent of sales from its automotive business. Harman also supplies navigation services, onboard entertainment systems and vehicle networks that put it at the intersection of connected cars and mobile networks.

$90m investment to TTTech

The Samsung Automotive Innovation Fund will also develop related technologies such as machine vision, sensors, and safety features. The company has already made its first $90m investment into TTTech (Automotive Industry Company). TTTech is a global leader in advanced driver assistance systems, more widely known as ADAS. It also creates safety controls for the automotive industry.

Top Videos of the Day

According to Reuters, Young Sohn, Samsung’s President, and Chief Strategy Officer, announced that the company is confident in its ability to enter an increasingly crowded automotive industry.

Upcoming Galaxy Note devices are foldable and bendable

In other news, Apple has announced its latest flagship smartphones which include the #iPhone X. The iPhone X features an all-screen display with wireless charging and 3D recognition sensors. A lot of people have been talking about the iPhone X, but it seems like Dongjin Koh, Samsung’s president of mobile, might have stolen Apple’s spotlight after he announced that the company is planning to create a foldable #Galaxy Note smartphone next year.

It is pretty obvious that Samsung is still perfecting the infinity display technology, but the company is already planning to achieve more. Dongjin Koh claims that the upcoming Galaxy Note smartphones will use flexible OLED screens which will make the device bendable.