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China approves HP's buy of Samsung's printer business

HP expects to close the acquisition in the fourth quarter which ends on December 31

Josephine Mason & Stella Qiu | Reuters  |  Beijing 

China said on Thursday it has approved HP’s $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 $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 ...

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First Published: Sat, October 07 2017. 03:47 IST