Samsung refutes claims it’s going into car manufacturing

Aug 24, 2018

Samsung has addressed recent rumors which suggested that the company might enter the automotive business as a player.

It currently makes technological components for cars that are used by many manufacturers.

The rumors suggested that Samsung would actually get into the business of making cars by acquiring a manufacturer.

The company has denied it, saying it has no plans to do something like that.

The rumors stemmed from a recent announcement by the company that it would invest over $160 billion in four key future growth areas.

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