HP acquires Samsung's printer business for $1.05 billion

HP gets serious about the $55 billion printer industry, acquires Samsung's printer division for $1.05 billion.

@anthony256
Published Mon, Sep 12 2016 9:51 PM CDT   |   Updated Tue, Nov 3 2020 11:58 AM CST

Samsung has just exited the printer business, selling its printer division to HP for $1.05 billion, where HP says the purchase is intended to "disrupt and reinvent" the $55 billion printing industry, something that "hasn't innovated in decades".

HP acquires Samsung's printer business for $1.05 billion | TweakTown.com

HP said in a statement: "Copiers are outdated, complicated machines with dozens of replaceable parts requiring inefficient service and maintenance agreements". Samsung will spin its printing business into a separate company that will be sold to HP, with 6000 employees included. Samsung will continue selling printers branded as Samsung on its home turf in South Korea, but it will source them from HP.

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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