Samsung may not be able to include Harman audio in 2018 devices
Some Harman International shareholders have filed a class suit against a planned $8 billion merger with Samsung Electronics. The unhappy shareholders have stated their intention to vote against the deal, citing serious concerns with the terms and conditions of the contract, which they described as "flawed." They also stated that the offer was a clear devaluation of the company.
Samsung announced its intention to acquire Harman for $112 per share in November, a 28 percent premium over the company's November 11th closing price. The South Korean tech conglomerate hoped to use this acquisition to transition into the automobile market, capitalizing on the growth potential of the driverless car industry.
Shortly after the merger announcement in November, Jonghwan Park, executive vice president and head of Samsung’s car components division, said that Samsung could launch their first smartphone using Harman audio technology as early as 2018. Harman has worked with other smartphone makers in the past such as HTC and Huawei.
Though Samsung originally hoped to finalize the deal by November 2017, the lawsuit could throw a spanner in the works and delay any plans to include Harman audio technology in Samsung devices.
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