Samsung sells its printing business to HP for 1,600 million


Samsung sells its printing business to HP for 1,600 million



This decision responds to the intention of the South Korean firm to focus on its main lines of business such as televisions and smartphones



   Samsung Electronic.s will sell its printing business in the US to the printer manufacturer Hewlett-Packard (HP) for approximately 2 billion South Korean won (1,600 million euros), the Seoul Economic Daily reported Friday.

The decision of the company, which according to the South Korean head will be made official during the next week, responds to Samsung's intention to focus on its main lines of business such as televisions and smartphones.

  In this sense, the South Korean firm leads the sales market for telephones, televisions and memory cards, while it is behind HP, Canon and Epson in the printing market.

In 2014, the company began a divestment process in which it withdrew its interests in four chemical and defense sector subsidiaries for which it obtained a total of 1.9 trillion won (1,500 million euros).

In the second quarter of the year, Samsung Electronics obtained a net profit of 4,681 million euros, representing an increase of 1.7% compared to last year and its best quarterly result in two years thanks to the boost in sales of 'smartphones' such as the 'Galaxy S7' and 'S7 edge'.

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