Samsung Electronics Mulls Sale of Printer Business to HP For $1.82 Bln (NYSE:HPQ)


Samsung Electronics is considering the sale of its non-core printer business to HP (NYSE:HPQ) in a transaction valued at approximately KRW2 trillion ($1.82 billion), according to the Seoul Economic Daily. A senior Samsung official said the South Korean electronics giant will provide additional details regarding its plans for the printer business next week. Samsung has decided to divest the business as its investments over the past 10 years in the unit did not generate as much growth as the company expected, the report said.

About 8.90M shares traded hands. HP Inc (NYSE:HPQ) has risen 54.64% since February 8, 2016 and is uptrending. It has outperformed by 38.15% the S&P500.

HP Inc., formerly Hewlett-Packard Company, is a well-known provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The company has a market cap of $25.08 billion. The Firm operates in seven business divisions: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments. It has a 6.89 P/E ratio.

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