Samsung is credited with intent to buy an automotive electronics chip supplier

Presumably, the South Korean tech giant will acquire a company like NXP, Texas Instruments, Renesas, or Infineon.

The urgency of this assumption is given by the unprecedented shortage of microcircuits that automakers are now facing. Some of them even had to suspend production.

The chip shortage problem stems from semiconductor manufacturers’ preference for ICs for IT devices and home appliances, resulting in high demand during the pandemic.

An indirect confirmation of Samsung’s plans is the words of the company’s CFO, who recently announced the search for new growth engines. During a press conference on the quarter results, he said that over the past several years, the company has “very carefully assessed the possibilities of mergers and acquisitions and made significant progress in terms of preparation” for such an operation.

It remains to add that Samsung has sufficient financial resources to conclude large merger deals. As of the third quarter of 2020, its assets were estimated at $ 104.3 billion.