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HP to Acquire Samsung’s Printer Business For $1.05 Billion

HP is on the verge of closing the deal with Samsung, in which HP has agreed to pay $1.05 in order to acquire Samsung’s printing and copying business. Hence, HP is now going to control the arena, which has a fair amount of competition from some of the key players such as Canon, Xerox, Konica Minolta, and Ricoh.

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It has been just a month since HP reported 18% decline in terms of revenue from toner and ink supplies. The result takes into account the third fiscal quarter from the year-earlier period. On the other hand, printer hardware unit witnessed a 10% fall during the same period.

Meanwhile, HP introduced 16 new all-in-one printers right after the deal with Samsung was revealed. The deal, however, is aimed at strengthening the company’s offering when it comes to high-volume devices that handle copying and printing for office work group.

However, HP’s printer business is not catching up in recent times, due to the fact that there are a lesser number of users printing these days. Nowadays, consumers have adopted a modern-day computing where their interest lies mostly in portability. This gave a huge boost to consumers to adopt smartphones and tablets in huge numbers instead of giving importance to printing in general.

HP’s Dion Weisler has estimated the A3 printer’s business to have an annual revenue of $55 billion, something HP tried to reach with a little bit of success in the past. Once HP finish this deal, it will have a complete control over Samsung’s business of selling A3 machines.

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Tanmay Patange

Associate Editor at Pricebaba, Tanmay is working in the tech writing and content industry since 2011. He closely follows all trends and developments across the Tech world and admires fearless journalism. Follow him on Twitter at @techtsp.

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