On April 11th, Samsung Display announced that it will supply cutting-edge organic light-emitting diode (OLED) panels to Ferrari's next-generation models, a world-renowned supercar brand. This is significant as Samsung Display recently revealed a 4.1 trillion won investment plan for OLEDs and securing a promising partner in the automotive display field is a major development.
In particular, Samsung Display and Ferrari highlighted the strategic cooperation as a win-win partnership where Ferrari can maximize the value and completeness of their next-generation products, while Samsung Display can leverage its long-standing OLED technology to introduce state-of-the-art display solutions through Ferrari, which is expected to boost its automotive and military businesses.
Samsung Display has announced that CEO of Ferrari, Benedetto Vigna, visited their Asan Campus in Chungnam and signed a memorandum of understanding (MOU) with President Choi Joo-sun regarding the development of display solutions for vehicles. Going forward, Samsung Display plans to develop display solutions for Ferrari's next-generation models and support their digital transformation.
At the CES 2023, held earlier this year in Las Vegas, the "New Digital Cockpit" was introduced for the first time. The 34-inch display installed in the New Digital Cockpit features a bendable technology that curves at a 700R angle on both sides, providing the driver with the optimal viewing distance and increasing their concentration.
According to a Samsung Display official, "Samsung OLED is a technology that can satisfy the needs of car manufacturers who want innovative and high-end designs, thanks to its lightweight and slim structure, thin bezel design flexibility, and the ability to express perfect blacks and deep contrasts." They added, "Especially, OLED's low-power characteristics will increase the efficiency of cars and act as even more attractive elements."
Samsung Electronics' recent moves in the automotive industry are not new. Last month, they met with key executives including Oliver Zipse, Chairman of BMW, at the BMW Driving Center on Yeongjong Island in Incheon to discuss plans to strengthen cooperation between the two companies. Samsung Electronics Chairman Lee Jae-yong has consistently emphasized the company's focus on the next-generation mobility sector as a new growth engine to lead Samsung's future.
Not only Samsung Electronics, but also its affiliates such as Samsung Display, Samsung Electro-Mechanics, and Harman are all focusing on the automotive and electric vehicle business as a vertical integration model. In particular, Samsung SDI, which is responsible for the existing mobile phone battery business, is strengthening its production of electric vehicle batteries, focusing on long-term business model diversification and profitability growth for the company.
It has been reported that the current Chairman of Stellantis & Ferrari, John Elkann, is also visiting South Korea and his meeting with Chairman Lee Jae-yong is receiving attention. In the past, Chairman Elkann had proposed that Chairman Lee Jae-yong serve as an outside director at Exor Group (2012-2017).
Stellantis is building a cooperative relationship with Samsung SDI, starting with the construction of a joint electric vehicle battery factory. With Stellantis owning as many as 18 brands including Jeep and Chrysler, it is expected that Samsung will emerge as a major customer for OLED supply.
While LG has been enhancing its electric vehicle and mobility businesses, led by LG Innotek with its motor and camera technology, Samsung is focusing on the car and mobility sectors where it can perform well, anticipating healthy competition in the rapidly changing global vehicle market.
*This article was written based on articles from news outlets such as Yonhap News, JoongAng Daily, and The Korea Economic Daily.
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