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Biz News Korea(Eng)
Samsung Elec’s spun-off printer S-Printing Solution launched
- Collected
- 2016.11.02
- Distributed
- 2016.11.03
- Source
- Go Direct
S-Printing Solution will remain independent until physical merger with U.S.-based HP Inc. is completed in the second half of 2017. In September, the board of Samsung Electronics endorsed the plan of starbursting printer operation by selling 100 percent stake and related offshore assets to HP. The services and products offered at home and abroad also are unchanged.
S-Printing Solution’s Chief Executive Officer Kim Ki-ho who previously headed the Printing Solutions division at Samsung Electronics pledged to upgrade the firm’s expertise in printer business and secure leadership in the industry. The merger with HP is anticipated to help the firm to seek new growth engine through integration of product lineups and expanded investment, said Kim.
The printer company with main office in Korea and manufacturing base in China operates about 50 sales offices across the world and posted 2 trillion won ($1.8 billion) in sales last year. Its approximately 6,000 employees will continue working at current posts for now.
Meanwhile, the acquisition of Samsung’s printer business is expected to further solidify HP’s leadership in global printer market. HP had been a strategic partner of Samsung Electronics when the Korean tech giant first started the printer business.
By Lee Dong-in
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]