Samsung Reportedly Considers Sale of Printer Business to HP.

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Samsung Reportedly Considers Sale of Printer Business to HP...

Samsung Electronics is considering selling its printer business to HP Inc in a deal worth around $1.8 billion as the South Korean company shifts focus to its core businesses, the Seoul Economic Daily reported on Friday.
The paper, citing an unnamed senior Samsung source, said the Korean firm will likely announce a decision on the potential sale by next week.
A Samsung spokesman said the company does not comment on rumours or speculation. HP's office in Seoul could not be reached immediately for comment.
Samsung Electronics and the broader Samsung Group have been divesting from or exiting non-core businesses as part of a broader restructuring process for South Korea's top family-run conglomerate under the stewardship of de facto leader Jay Y. Lee.
Though Samsung is the world's top maker of smartphones, televisions and memory chips, the company has lagged rivals such as HP, Canon Inc and Epson in the global printer market.
Samsung does not disclose its printer sales separately, but researcher IDC said Samsung was ranked fifth with a 4.0 percent share in global hardcopy peripherals market in the second quarter.
Samsung Electronics in 2014 decided to end its LED lighting business outside South Korea, while the broader Samsung Group announced a deal to sell its defense and chemical assets to local conglomerate Hanwha Group in 2014 and another deal to sell more chemical assets to Lotte Group in 2015.

Samsung Reportedly Considers Sale of Printer Business to HP | NDTV Gadgets360.com

 

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HP to Buy Samsung's Printing Business for $1 Billion...

Samsung Electronics will sell its printer business to US computer maker HP, the companies said Monday, as the South Korean giant accelerates restructuring efforts amid a generational power transfer in the founding Lee family.
HP said it will buy the unit for $1.05 billion (roughly Rs. 7,026 crores) and that the deal will boost growth opportunities in the copier segment, while Samsung made clear the transaction was "part of the company's efforts to concentrate on its core business areas".
Samsung's printing unit has 6,000 employees and posted total revenue of KRW 2 trillion (roughly Rs. 11,982 crores) in 2015, the company said in its statement Monday.
Samsung Electronics - the world's largest smartphone maker that also produces home appliances and memory chips - is a flagship unit of the Samsung Group.
The group, currently chaired by Lee Kun-Hee, has merged, broken out or newly listed some of its key units in recent years as Lee prepares to hand over the reins to his son and company vice chairman J.Y. Lee.
Recent health problems concerning the senior Lee, currently bedridden after suffering a heart attack in 2014, have prompted the business to step up these efforts.
The Samsung Electronics board proposed a plan Monday to nominate J.Y. Lee as a new board member.
"More than two years after the hospitalization of Chairman Lee... the board of Samsung... believes that the time is now right to nominate Jay Y. Lee as a member of the board to allow him to take a more active role in the Company's strategic decision-making," the statement said.
The sale of the printing business and Lee's nomination were approved by the board Monday but remain subject to shareholder approval in October.
Despite effectively controlling the Samsung Group in recent years, the younger Lee has so far not taken any official board seat, maintaining a relatively low profile.
The group, comprised of dozens of units ranging from electronics to hotels, posted total revenue of $287.8 billion (roughly Rs. 1,92,554 crores) in 2014, making it South Korea's largest business group.

HP to Buy Samsung's Printing Business for http://m.gadgets.ndtv.com/laptops/news/hp-to-buy-samsungs-printing-business-for-1-billion-1457651 Billion | NDTV Gadgets360.com