1. Samsung Electro-Mechanics says exiting more non-core businesses

Samsung Electro-Mechanics says exiting more non-core businesses

South Korea's Samsung Electro-Mechanics Co Ltd said on Tuesday that it will exit more non-core businesses, such as the manufacturing of modules to regulate supply of power to electronics devices, as it seeks to narrow the company's focus.

By: | Published: July 14, 2015 10:06 AM

South Korea’s Samsung Electro-Mechanics Co Ltd said on Tuesday that it will exit more non-core businesses, such as the manufacturing of modules to regulate supply of power to electronics devices, as it seeks to narrow the company’s focus.

Samsung Electro-Mechanics, in a regulatory filing, said staff working in the respective product lines – including tuner modules that receive broadcast signals for TVs and set top boxes, and electronic tags displaying product information and pricing – will become shareholders of a new holding firm and take control of operations.

Samsung Electro-Mechanics, which last month said it will sell its hard disk drive motor assets, will take a minority stake in the new holding firm, a company spokesman said without providing further details.

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