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Samsung denies it plans to sell its PC unit but is planning a split

Posted on Monday, November 28 2016 @ 14:05:41 CET by

Samsung logo
Last week there were rumors that Samsung was in talks with Lenovo to sell its PC unit to the Chinese computer giant. According to the source, the two firms had been in talks for months but the negotiation was not going well as the companies failed to reach an agreement that could satisfy both parties.

In a response to ZD Net, Samsung denied the deal and said rumors about a potential sale of its PC division are not true. So even though Samsung already axed its European PC unit in 2014 due to profitability issues, they aren't willing to give up the PC market just yet.

This morning another Samsung rumor is making the rounds. Korean newspaper Seoul Economic Daily claims Samsung is going to give in to pressure from U.S. fund Elliott Management to split the company in two and provide more in payouts. The split would involve separating Samsung Electronics into a holding company and an entity that houses all the operational activities.

Analysts seem to agree this move would give Samsung Electronics a simpler structure, with the potential to return more value to shareholders:
"It's difficult to argue with the logic of Elliott’s proposals," said David Smith, head of corporate governance at Aberdeen Asset Management Asia. "A simpler structure is certainly preferable, and yes most would agree they can afford to pay out more.

"What is important is that these changes should benefit all involved, including family, group, and minority shareholders,” he said.
Samsung said it will hold a conference call on Tuesday to discuss its plan. Samsung Electronics is the flagship of the Samsung Group, it houses various activities including TVs, PCs, tablets, smartphones, printers, SSDs, consumer appliances, and Samsung's semiconductor units.



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