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Samsung May Pull The Plug On Deal With Fiat Chrysler Photo:
 
 
Brad Leach | Oct, 18 2016 | 2 Comments

The current crisis with the Galaxy Note 7 smartphone is so hot that Samsung’s planned deal with Fiat Chrysler may be in jeopardy.

At stake is the planned purchase by the Korean giant of Fiat’s Magneti Marelli electronics arm.

According to American media reports, production of the Galaxy Note 7 has ended and Samsung has cut its projected third quarter operating profit by $US 2.3-billion.

And there are claims the two giants have yet to settle on details of the proposed Magneti Marelli purchase.

A man in the US claims a Galaxy Note 7 smartphone caused this fire in his Jeep - photo via Fox News
A man in the US claims a Galaxy Note 7 smartphone caused this fire in his Jeep - photo via Fox News

While Fiat Chrysler already has a partnership with Google for driverless car development, the sale of Magneti Marelli is seen as a vital component in eradicating its €5.5-billion net industrial debt – a stated target of CEO Sergio Marchionne.

For Samsung, broadening operations into vehicle components would reduce its reliance on consumer electronics – the Korean giant keen on Magnet Marelli’s lighting, in-car entertainment and Telematics technology.

MORE: Toyota And Suzuki Join Forces With New R&D Partnership
MORE News & Reviews:
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