Samsung is looking to reorganize its business and focus on its core competencies. At least that’s the explanation the company gave for why it’s selling part of its stake in Samsung Techwin and Samsung General Chemicals.
Both of these, just like Samsung Electronics, are subsidiaries of the South Korean Samsung Group. However some business take precedent over others and it looks like the company’s leaders are in the middle of deciding where their company should focus more.
The combined sales of shares in the defense and chemical subsidiaries will raise $1.72 billion for money that will likely be re-invested in the electronics departments.
Samsung Electronics has seen its profits nosedive in recent quarters due to a general slowdown of the market combined with heavy competition from local manufacturers like Xiaomi and Lenovo in developing markets.
Republished with permission from Neowin. Read full article.
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