SEOUL (Reuters) -Samsung Electronics ( SSNLF ) said on Wednesday its unit Harman International signed a deal to acquire U.S. firm Masimo's audio business for $350 million.

It plans to combine Masimo's audio business with Harman to strengthen its global leading position in the consumer audio market, which is expected to grow from $60.8 billion in 2025 to $70 billion in 2029, Samsung said in a statement.