Is Apple Headhunting Samsung's Best?
According to an article published Monday in The Korea Times, officials at Korean Samsung Electronics Co. Ltd. (OTCMKTS: SSNLF) are saying that Apple Inc. (NASDAQ: AAPL) is “luring away Samsung Electronics’ experts in next-generation technology.”
Apparently, the largest company in the world (in terms of market cap) continues to head-hunt Samsung's “experienced technicians and engineers engaged in signal- and visual-processing management.” An official at the Korean company said Apple is offering very attractive benefits and high salaries, and has, already, effectively hired some of its personnel.
Another official at Samsung explained the migration: “Those former Samsung workers are given greater independence to proceed with their tasks. Apple prefers to use Samsung's chip experts because they are very diligent, mission-oriented and are prepared to acquire new knowledge."
However, it is not only chipmakers that Apple is targeting. Reportedly developing an electric car of its own, the company needs battery experts. And, being a late-comer to the electric vehicle race, the iPhone-maker doesn’t have experts of its own, so it is also looking for them within Samsung, the report explained.
Samsung's batteries are already used in several electric cars, including BMWs.
Related Link: 4 Reasons The Car Is Crucial To Apple
Worth noting, Apple was also accused of poaching employees from Tesla Motors Inc (NASDAQ: TSLA), Mercedes Benz and other electric car manufacturers.
The Korean official explained in greater detail:
“As the electric vehicle business is a new one, Apple needs patents and experts in battery technology. Top human resources firms have been approaching Samsung's battery experts, individually, and I think such human exchange moves are a win-win for both.”
According to The Korea Times, “Apple is still involved in patent disputes with Samsung in the United States. But the two companies are on a full track to normalize their business partnership, as Apple can't completely divorce Samsung given the latter's advantages."
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.