Samsung Elec considers $1.8 bln printer business sale to HP -report (updated)

Canon Electronics

09/09/2016 11:32

* Samsung could announce decision on sale next week -paper 
    * Samsung Group has been divesting from non-core businesses 
 
 (Updates with background on Samsung, printer market) 
    SEOUL, Sept 9 (Reuters) - Samsung Electronics  005930.KS  is 
considering selling its printer business to HP Inc  HPQ.N  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  SAGR.UL  
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  7751.T  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.   
($1 = 1,100.0600 won) 
 
 (Reporting by Se Young Lee, Hyunjoo Jin; and Jane Chung; 
Editing by Muralikumar Anantharaman) 
 ((hyunjoo.jin@thomsonreuters.com; 82-2-3704-5685; Reuters 
Messaging: hyunjoo.jin.thomsonreuters.com@reuters.net)) 
 
Keywords: SAMSUNG ELEC PRINTERS/HP