HP buying Samsung’s printer business for more than $1 billion

northern california fires hewlett packard archive
Ken Wolter / Shitterstock
Worldwide demand for printers may be slipping, but HP Inc. is reaching for a bigger piece of the pie. HP announced an agreement with Samsung to buy the South Korean company’s printer business for $1.05 billion, according to Fortune.

The deal, expected to be finalized within a year, benefits both companies. With the acquisition, HP gains market presence in Asia and access to Samsung printing technology. And by divesting itself of printing, Samsung can focus on its smartphone, television, and memory chip products.

Related: Samsung is in talks to license GPU tech from Nvidia or AMD

Enrique Lores, HP’s president of imaging and printing said, “Korea is going to be a very important site for the HP printing business going forward.”

HP will gain 6,000 employees and about 6,500 printing technology patents. Of Samsung’s printing business employees, almost 2,000 are research and development engineers, 1,000 work in sales and support, and the remainder are in manufacturing and service, according to Lores.

HP’s global general manager of office printing, Tuan Tran, said HP wants to get into the copier market. High-speed printing of multiple copies is key in the copier business, and among Samsung’s many printing patents are key laser printing technology patents HP will be able to use.

As reported by Fortune, an International Data Corporation report in May showed that worldwide printer shipments in the first quarter of 2016 declined by 10.6 percent from the same quarter last year. HP currently has 36 percent of the printer business, with Epson, Brother, and Samsung in second through fourth place, respectively. With the Samsung printing business acquisition, HP will eliminate one competitor while gaining a greater Asian market presence as well as the revenue from Samsung’s business, which has targeted business customers rather than consumers.

Tran said HP is going to introduce a new line of copiers that utilize Samsung laser and toner technologies.

So while the printing business pie is getting smaller as more consumers and business shift to digital rather than printed documents, it’s still a formidable space. Of the 23,114,918 printing devices that shipped in the first quarter 2016, according to the IDC report, HP’s share was 8,385,014.  Adding Samsung’s business will give the Palo Alto-based company a larger share going forward.

Computing

HP’s Omen Mindframe headset keeps your ears chill, but might leave you lukewarm

The Omen Mindframe headset uses HP's FrostCap technology to keep ears cool during long gaming sections. While it delivers on keeping ears cool, it forgets some of the essentials of a quality gaming headset.
Computing

HP spring sale: Save up to 58 percent on laptops, desktops, printers, and more

From now until March 23, the HP spring sale lets you take as much as 58 percent off of a huge range of laptops, desktop PCs, printers, and more, potentially saving you more than $1,000. We’ve rounded up a dozen of the best deals right…
Computing

Make the most of your toner with our five favorite color laser printers

Color laser printers have improved dramatically over the years, and today's models offer both blazing print speeds and great image quality. Here are our favorite color laser printers, from massive all-in-ones to smaller budget options.
Computing

HP’s spring sale cuts prices on the 15-inch Spectre x360 by $270

Looking for a new laptop to start off the spring season? HP has you covered and is currently running a sale that is cutting $270 off the price of the 15-inch touchscreen variant of its Spectre X360 Windows 10 convertible laptop. 
Computing

Get ready to say goodbye to some IFTTT support in Gmail by March 31

If This Then That, the popular automation service, will drop some of its support for Gmail by March 31. The decision comes as a response to security concerns and is aimed to protect user data.
Computing

Get the new Dell XPS 13 for $750 with this limited-time deal

Dell is currently running a limited time deal lasting through Thursday, March 28, where you can bring home a version of this year's new XPS 13 for around $750 with the use of a special coupon code. 
Computing

Nvidia faces attacks from AMD, Intel, and even Google. Should it be worried?

Nvidia announced an expanded array of RTX server solutions designed to leverage the power of ray-tracing at GTC 2019. The effort will help Nvidia take on Google's Stadia in game streaming with GeForce Now, and the company's investments in…
Mobile

This is the easiest way to save your iPhone data to your computer

Living in fear of losing your contacts, photos, messages, and notes on your iPhone? Fear no more -- in this guide, we'll break down exactly how to back up your iPhone to your computer using Apple's iTunes or to the cloud with iCloud.
Mobile

Here are the best iPad Pro keyboard cases to pick up with your new tablet

The iPad Pro range can double as laptops, but they do need proper keyboards to fill in effectively. Thankfully, there are loads to choose from and we rounded up the best iPad Pro keyboard cases right here.
Computing

Microsoft’s Clippy came back from the dead, but didn’t last very long

Before Cortana, Alexa, and Siri even existed, Microsoft Clippy dominated the screens of computers in the 1990s to help assist Microsoft Office users when writing letters. He recently made a bit of a comeback only to die off again.
Computing

How 5G networks will make low-latency game streaming a reality

Faster speeds and more bandwidth are some of the many promises that 5G can deliver, but for gamers, the most important thing is low latency. To achieve low latency, carriers like AT&T and Verizon are exploring hybrid models for game…
Deals

Time to do taxes? Save up to 50 percent on H&R Block tax software this weekend

Tax season is stressful, and with new tax laws in effect this year, it's not a bad idea to get some help. H&R Block has you covered: For two days only, you can save 50 percent on its great software so you can file your taxes online and save…
Computing

Stop dragging windows on your Mac. Here's how to use Split View to multitask

The latest iterations of MacOS offer a native Split View feature that can automatically divide screen space between two applications. Here's how to use Split View on a Mac, adjust it as needed, and how it can help out.
Computing

Breeze through security with these checkpoint-friendly laptop bags

Getting through airport security is a drag, but your laptop bag shouldn’t be. Thankfully, these checkpoint-friendly laptop bags will get you and your gear to your destination with ease.