Current Issue : July - August 2022
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Articles July-Aug 2022

PALM AV-ICN Conference & SeminarNew!

Curated by PALM AV-ICN magazine, the PALM Conference & Seminar was the optimum learning and networking platform for attendees, where the best talent and top-notch professionals from the country shared their expertise, skills and knowledge. read more

Articles July-Aug 2022

High Quality Attendance At Palm & Av-Icn Expo 2022New!

The professional sound, professional display, professional lighting and integration market of importers, distributors, dealers and actual users congregated in full strength at the BEC, Mumbai, to witness the largest display of product range from top global brands, sourcing millions of dollars inventory for distribution and rental.... read more

Articles July-Aug 2022

IRAA strikes an energetic progress path with new chiefNew!

K.J. Singh recording engineer of brave new-gen albums is a spirited veteran deeply involved with Indian recording arts and professionals. The entire jury of IRAA after years is now entirely fresh, newly appointed by KJ... read more

Articles July-Aug 2022

Attendees to PALM & AV-ICN Expo 2022New!

PALM AV-ICN 2022 proved to be far busier and well attended than expected. Who exactly attends and exhibits at India's foremost audio, lighting, and audiovisual technology expo? Read on for detailed breakdown of the attendee figures... read more

Articles July-Aug 2022

Chopra's Keynote Pushes For Indian Manufacturing, Indian BrandsNew!

The 20th PALM Convention Keynote address by Founding Director Anil Chopra gave a clarion call for major investment into manufacturing pro audio, pro lighting and pro AV hardware in India... read more

Articles July-Aug 2022

What to expect from NEC at InfoComm India 2022New!

Joining PALM AV-ICN for a quick interview is Krishna Tripathi, General Manager, Display Solutions, NEC Corporation India Private Limited, wherein he elaborates on the exciting products attendees will be able to witness at the NEC Booth E20 at InfoComm India... read more


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Samsung Electronics Acquires HARMAN


Samsung Electronics and Harman International Industries, Incorporated announced that they have entered into a definitive agreement under which Samsung will acquire Harman for $112.00 per share in cash or total equity value of approximately $8.0 billion.

The transaction will give Samsung a significant presence in the large and rapidly growing market for connected technologies, particularly automotive electronics which has been a strategic priority for Samsung; and is expected to grow to more than $100 billion by 2025. Harman is the market leader in connected car solutions with more than 30 million vehicles currently equipped with its connected car and audio systems including embedded infotainment, telematics, connected safety and security. Approximately 65% of Harman’s $7.0 billion of reported sales during the 12 months ended September 30, 2016 are automotive-related and its order backlog for this market at June 30, 2016 was approximately $24 billion.

Harman’s experience in designing and integrating sophisticated in-vehicle technologies as well as its long-term relationships with most of the world’s largest automakers will create significant growth opportunities for the combined business by enabling it to leverage Samsung’s expertise in connected mobility, semiconductors, user experience, displays and its global distribution channels. In addition, the combination of Harman’s brands and audio capabilities and Samsung’s expertise in consumer electronics will deliver enhanced customer benefits and elevate user experiences across Samsung’s complete portfolio of consumer and professional products and systems.

Oh-Hyun Kwon, Vice Chairman and Chief Executive Officer, Samsung Electronics said, “Harman perfectly complements Samsung in terms of technologies, products and solutions; and joining forces is a natural extension of the automotive strategy we have been pursuing for some time.”

“As a Tier 1 automotive supplier with deep customer relationships, strong brands, leading technology and a recognized portfolio of best-in-class products; Harman immediately establishes a strong foundation for Samsung to grow our automotive platform. Harman’s sustained track record of rapid growth fueled by technology leadership and an unmatched automotive order pipeline reflects its commitment to innovation and customers,” he added.

Young Sohn, President and Chief Strategy Officer, Samsung Electronics said, “The vehicle of tomorrow will be transformed by smart technology and connectivity in the same way that simple feature phones have become sophisticated smart devices over the past decade. We see substantial long-term growth opportunities in the auto technology market as demand for Samsung’s specialized electronic components and solutions continues to grow. Working together, we are confident that Harman can become a new kind of Tier 1 provider to the OEMs by delivering end-to-end solutions across the connected ecosystem.”

Dinesh Paliwal, Chairman, President and CEO, Harman stated, “This compelling all-cash transaction will deliver significant and immediate value to our shareholders and provide new opportunities for our employees as part of a larger, more diversified company. Today’s announcement is a testament to what we have achieved and the value that we have created for shareholders. Samsung is an ideal partner for Harman and this transaction will provide tremendous benefits to our automotive customers and consumers around the world. Combining Samsung’s strengths in leading-edge displays, connectivity and processing solutions with Harman’s technology leadership and long-standing customer relationships will enable OEMs to provide new offerings for their customers. Partnerships and scale are essential to winning over the long term in automotive as demand for robust connected car and autonomous driving solutions increases at a rapid pace. This transaction will bring Harman and Samsung’s complementary strengths together to accelerate innovation in this space. More broadly, this investment underscores the strength of Harman’s employees, as well as our success and leadership across our markets. We look forward to working together with Samsung to elevate experiences for consumers worldwide.”


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