Samsung Electronics Co. is a leader in the semiconductor industry. Moving forward, the South Korean tech giant seems to be working on semiconductor chips for home appliances such as refrigerators, washing machines, and cleaners.
Samsung, the world’s largest memory chipmaker also working on solutions for the EV industry. According to the latest report by the Korean Economic Daily, the company will start to develop the so-called home appliance chips by year-end to put semiconductors that can store data and control household gadgets on a small, thin silicon wafer chip, people familiar with the matter said on Thursday.
“Developing home appliance chips is a challenge even for major chipmakers like Samsung, which has been the top memory player for decades. Samsung wants to take the lead in the newly emerging market for homes on self-driving cars,” said one of the sources.
According to German market research firm Statista, the global home appliance market is forecast to grow to $538.6 billion by 2024 from $448 billion in 2021.
“Competition among electronics makers is becoming fiercer with the imminent arrival of the autonomous driving era. Having a new technology is a matter of life and death for them now more than ever,” said an industry official.