Menu
HP's $1.1B buyout of Samsung's printer business gets green light

HP's $1.1B buyout of Samsung's printer business gets green light

Acquisition approved with some restrictions

Dion Weisler - CEO, HP Inc

Dion Weisler - CEO, HP Inc

China has said it has approved HP Inc's US$1.1 billion purchase of Samsung Electronics' printer business with certain restrictions, citing concerns about the US firm's dominance of the domestic laser printer market.

HP announced the deal in September 2016, hoping to disrupt the US$55 billion copier market by focusing on multifunction printers and more deeply embedding mobile and cloud printing technologies to its product solutions.

It hoped at the time to close the transaction within 12 months, pending regulatory review.

In a statement issued late on Thursday, the Ministry of Commerce said sale of A4 format laser printers by HP in China should be done on "fair and reasonable" terms and the firm must report every six months on their prices and related data to the ministry.

HP must not buy any stakes in other A4 printer manufacturers in China even if they are a minority equity investment, it said.

It must not adapt its printers to restrict compatibility with third-parties or claim in advertising that its printers are not compatible with other suppliers, the ministry said.

HP expects to close the acquisition in the fourth quarter which ends on 31 December, a spokeswoman said in an email. She declined to comment on the regulatory process.

Samsung was not immediately available for comment.

Under the deal, HP would add an intellectual property portfolio of more than 6,500 printing patents and nearly 1,300 researchers and engineers with expertise in laser printer technology, imaging electronics and printer supplies.

(Reporting by Josephine Mason and Stella Qiu; Editing by Muralikumar Anantharaman)


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags HPsamsunghewlett packard

Featured

Slideshows

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

More than 500 channel leaders gathered in Auckland on 21 October at the ​Reseller News Innovation Awards ​2020 to celebrate the achievements of the New Zealand technology industry's top partners, start-ups, vendors, distributors and individuals.

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners
Meet the winners of the 2020 Reseller News Innovation Awards

Meet the winners of the 2020 Reseller News Innovation Awards

Reseller News honoured the standout players of the New Zealand channel in front of more than 500 technology leaders in Auckland on 21 October, recognising the achievements of top partners, start-ups, vendors, distributors and individuals.

Meet the winners of the 2020 Reseller News Innovation Awards
Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Show Comments