Hyundai Mobis, Samsung LED tie up in LED headlamp business

SEOUL, April 30 (Yonhap) -- Hyundai Mobis Co., South Korea's top auto-parts
maker, and Samsung LED Co., a unit of Samsung Group, said Thursday they will
co-develop headlamps using light-emitting diodes (LED) as a light source.
The tie-up between Hyundai Mobis, a unit of Hyundai Motor Co., and Samsung LED
underlines the intensifying competition among the world's leading firms with the
advent of LED headlamps.
"LED headlamps to be jointly developed by Samsung will outpace those of foreign
rivals in terms of quality and price," said Hyundai Mobis Chief Executive Office
Jeong Seok-soo in a statement.
Experts say LED presents many advantages over traditional light sources,
including reduced energy consumption and longer lifespan.
The global market for LED-related auto parts is expected to rise to one trillion
won (US$759 million) this year, compared with an estimated 900 billion won last
year, according to Hyundai Mobis.
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