Crime Today News
Many people know Samsung and Xiaomi primarily for their smartphones and tablets. However, both companies are huge conglomerates with a presence in multiple segments of the technology industry—especially Samsung. Xiaomi recently launched into the electric vehicle (EV) market with great success. Now, Xiaomi is reportedly in talks with Samsung to collaborate on the development of electric cars.
Samsung and Xiaomi could work together in the electric car segment
Jay Y. Lee, Samsung Electronics Chairman, and Lei Jun, Xiaomi CEO, held a meeting in Beijing, according to South Korean outlets. The meeting reportedly focused on working together to further grow the Chinese giant’s electric vehicle business. The fact that the meeting took place at Xiaomi’s EV manufacturing plant reinforces these claims.
It’s noteworthy that the two executives are meeting for the first time in seven years. So, it’s a pretty significant development for both the future of Xiaomi’s electric car business and Samsung Electronics’ businesses.
If you’re not aware, Samsung also supplies key components for electric cars. Exynos chips for EVs are among the most important on the list. In fact, this is one of the reasons why there are voices within Samsung against the company’s planned internal restructuring of its semiconductor segment. According to reports, the South Korean giant wants to move the Exynos chip design process to Samsung MX. This would help optimize them better for Galaxy mobile devices. However, it could complicate the sale of Exynos chips to third parties.
Anyway, Samsung also supplies batteries, displays, and other key components. The two firms already have a successful history of collaboration, with Xiaomi consistently turning to Samsung’s AMOLED displays, memory, and storage chips for its mobile devices. This good relationship could help drive a deal in the EV segment.
Xiaomi made a successful entry into the electric vehicle market. The Xiaomi SU7, its first model, sold a whopping nearly 137,000 units in its first year. As a result, the company’s EV business generated approximately $4.5 billion. The company is ambitious and wants to increase the number of vehicles sold to 350,000 by 2025. Xiaomi also reportedly seeks to expand its EVs to international markets by 2027.
A potentially mutually beneficial collaboration
An electric car-related deal between Xiaomi and Samsung could be beneficial for both parties. It could allow Xiaomi access to key components from one of the world’s leading suppliers. On the other hand, Samsung could gain a new major client, something they have been seeking for some time amid a difficult situation.
📰 Crime Today News is proudly sponsored by DRYFRUIT.CO – A Brand by eFabby Global LLC
Design & Developed by Yes Mom Hosting
