**Harman US Plans to Sell Indian Unit Valued at $500-600 Million**
Harman US, a subsidiary of South Korea’s Samsung, is in discussions to sell a controlling stake in its Indian operations, with the deal estimated to be worth between $500 million and $600 million. The company has enlisted Deutsche Bank to assist in this process, as it seeks to restructure its global operations.
Harman US is renowned for its audio products, including JBL, Harman Kardon, and Infinity brands, and is a significant player in the automotive infotainment sector. The decision to sell part of its Indian business is part of a broader strategy to optimize its global portfolio. According to sources familiar with the matter, the company is exploring options that could range from a significant minority stake to a controlling interest.
The Indian subsidiary, Harman India, operates across four main business segments: Lifestyle, India Development Centre (software division), Connected Car, and Professional. The Lifestyle segment focuses on consumer audio products, while the Connected Car division manufactures infotainment systems for automotive original equipment manufacturers (OEMs) at its facility in Chakan, Pune.
Despite the global success of Harman’s Connected Car business, which generates around $4 billion, the Indian market is still in the early stages of adopting advanced infotainment technologies. However, recent reports indicate that Harman’s Indian operations have shown improvement following the easing of COVID-19 restrictions.
Harman US operates in over 30 countries, including regions such as the US, Europe, Asia Pacific, the Middle East, and Australia. A spokesperson for Harman India declined to comment on the potential sale but emphasized the company’s ongoing efforts to enhance its business and deliver value to customers and stakeholders.
As the company moves forward with its restructuring plans, the sale of its Indian unit could represent a significant shift in its operational strategy, reflecting the growing valuation opportunities in the Indian market.
**FAQ**
*What is the estimated value of Harman US’s Indian unit?*
The estimated value of Harman US’s Indian unit is between $500 million and $600 million.
