Samsung buying stake in Chinese car makerJuly 18, 2016 - 14:47 AMT PanARMENIAN.Net - Now that the smartphone market is cooling off, Samsung needs another way to keep raking in cash... and it's going in an unusual direction to make that happen, Engadget said. The tech giant is buying a stake in Chinese automaker BYD that, at least at first, will help boost the two companies' businesses in parts for electric cars and smartphones. What's next may be more important, however. Samsung says that the two will talk about possible partnerships in "various businesses" -- don't be surprised if they work closely together, Engadget said. Samsung has yet to reveal the size of the stake (BYD shot down rumors that it was 4 percent), so it's not certain just how much of a commitment it's making. Suffice it to say that the company stands to profit if everything goes to plan, though. The electric car market is quickly heating up, and Samsung could ride the bandwagon by supplying BYD with everything from batteries to processors. As it stands, Samsung might not want to sit on the sidelines when its big rival Apple is reportedly designing an EV of its own, Engadget said. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |