If you visit to Samsung printer support webpage now, you will find yourself eventually landing in HP website!
This is the indication of the completion of HP acquisition of Samsung printer business.
In 2016, HP is the largest player in the worldwide printer market, while Samsung was the 10th.
In September last year (2016), the two companies announced this acquisition plan valued at US$1.05 billion. HP had explained the reason of this acquisition, being able to expand its portfolio and help to disrupt the US$55 billion A3 copier market with multi-function printers that are simple to use but have the same high performance level as that of copiers.
For Samsung investors:
- Samsung had made the decision to dispose their printer business as they opined that this business is gradually declining.
- As part of the agreement, Samsung will make a US$100~300 million equity investment in HP through open market purchases.
For HP investors:
- HP will gain access to more than 6,500 print patents from Samsung and a workforce of nearly 1,300 researchers and engineers that are experts in laser technology, imaging electronics and supplies and accessories.
For Samsung printers customers:
- Samsung printers' customer support service will continue under HP.
- All of Samsung’s existing printer products will continue to be sold under Samsung brand until the second half of 2019.
- Samsung will keep on providing toners, parts and supplies for existing printers for another 5 years.
- All discounts and programmes previously agreed between Samsung and customers will now be honoured by HP, and these will remain in effect through to all previously agreed end dates.