SEOUL Sam­sung sells print­ing unit to HP

The Myanmar Times - - International Business -

SAM­SUNG Elec­tron­ics will sell its printer busi­ness to US com­puter maker HP 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 US$1.05 bil­lion 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 and con­cerns”.

Sam­sung’s print­ing unit has 6000 em­ploy­ees and posted to­tal rev­enue of 2 tril­lion won ($1.8 bil­lion) in 2015.

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 se­nior pre­pares to hand over the reins to his son and com­pany vice chair­man J.Y. Lee. –

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