HP officially buys Samsung’s printer business

You know here in Nigeria, Wizkid barely gets to feature Davido, thus we may feel these top dogs are waging total war against each other digging trenches in the studio to fire album after album at each other. But in the tech market, the top shots are not always in heated rage as their products locks arms and wrestle for sales. Thus it is not some total war, the tech companies despite all wanting to take the other as a colony still do business among themselves.

HP officially buys Samsung's printer business

One of such transactions is Samsung officially selling its printer business to HP at a whooping fee of $1.05 billion. The South Korean giant nourishes the target of “concentrating on its major business areas,” where as HP views this deal as a means “to disrupt and reinvent the $55 billion copier industry, a segment that has lacked innovation in decades.”

Thus when these arrangements are officially put in place, Samsung’s printer division will now assume the working status of an autonomous company by November 1, from there it will be sold to HP. As of now, Samsung’s printer division boasts an employment number of 6,000 people parading a revenue of $1.8 billion for last year.

In addition to this , HP will take on Samsung’s over 6,500 printer-related patents which cuts across its 1,300 engineers and researchers. This way, Samsung will not desist from selling printers bearing its own brand in South Korea, but will now have such manufactured by HP.

Over 50,000 + Readers

Get fresh content from JustNaira

Leave a Reply