Harman, the premium audio and infotainment group on Wednesday said it will provide a new infotainment system to Volkswagen group in a contract valued at $400m.
The company announced that the new award will include three new programs with the VW Group: the extension of Harman’s next generation infotainment product offering to further car lines in the fiscal year 2015, the extension of the current high infotainment system starting in fiscal year 2014 and offering a new infotainment head unit variant launching in fiscal year 2013.
In addition, the maker of sound and GPS solutions signed a new contract with Changan Motors to provide a branded premium audio system and develop an infotainment platform for the automaker’s new mid-sized luxury sedan.
For the year ending in June 2013, the company expects earnings of $3.75 to $4 a share, compared with previous guidance for earnings of $3 to $4. It expects sales of $4.55 billion to $4.8 billion, up to a 14% increase over its 2012 outlook. The original forecast had been for 7% to 10% growth.
More than 25 million automobiles on the road today are equipped with HARMAN audio and infotainment systems. HARMAN has a workforce of about 12,500 people across the Americas, Europe and Asia
by Mircea Serafim
) - Wednesday, October 26th, 2011 - filed under News
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