SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

News For You
News For You
Notifications

Samsung drops plans to sell its home network business

Business
By 

Last updated: May 25th, 2017 at 11:40 UTC+02:00

Samsung SDS, the South Korean chaebol's IT Solutions arm, was in talks with Ireland-based Allegion to sell off its home network business. However, the company has now announced that it has decided not to go forward with its decision, hinting at failed negotiations. Currently, Samsung Group companies Samsung Electronics (22.58 percent) and Samsung C&T (17.08 percent) as well as Lee Jae-yong (9.20 percent) own a majority of shares in the company.

Allegion had showed interest in acquiring Samsung's home network business thinking about its brand name and sales channel in South Korea's soaring home security market. The company's smart door locks business makes up for less than 2 percent (US$143.10 million) of the revenue. Samsung SDS had been trying to sell off less profitable businesses under its umbrella such as logistics and home security amid the ongoing leadership shuffle at Samsung Group.

Source Business Samsung C&TSamsung ElectronicsSamsung SDS
Galaxy AI summarized

Scroll for more related content
News For You

You might also like

Samsung now sells JBL audio products straight from its e-shop

Samsung now sells JBL audio products straight from its e-shop

Eight years have passed since Samsung bought Harman International Industries for $8 billion and became the parent company of audio brands like Harman Kardon, AKG, JBL, and others. Recently, Samsung's e-shop fully embraced the JBL brand. Although Samsung's online stores in various regions have had a shortcut to JBL audio products for many years, prospective […]

  • By Mihai Matei
  • 2 days ago
All the Cyber Week 2024 deals Samsung doesn’t want you to miss

All the Cyber Week 2024 deals Samsung doesn’t want you to miss

Samsung's Cyber Week sales event, which traditionally follows the Black Friday weekend, kicked off yesterday. For this Cyber Week, Samsung has refreshed some of its Black Friday deals and launched a bunch of new ones. The following list contains all the Samsung Cyber Week deals everyone should know about. Just a heads-up, the company says […]

  • By Mihai Matei
  • 1 week ago
Samsung trademarks ‘Moderate Bass’ for TVs and soundbars

Samsung trademarks ‘Moderate Bass’ for TVs and soundbars

We discovered a new trademark application Samsung filed with the UK Intellectual Property Office last week. The trademark concerns something Samsung calls “Moderate Bass.” In a broad sense, this new trademark applies to TVs, soundbars, speakers, and downloadable software for controlling TVs. Whatever it is, it seems like an audio technology or a setting that […]

  • By Mihai Matei
  • 1 week ago
The ultimate Samsung Holiday Gift Guide for 2024

The ultimate Samsung Holiday Gift Guide for 2024

The end of 2024 is over the horizon, and Black Friday has kicked off the holiday shopping season. For many, the time has come to prepare gifts for family and friends or to renew themselves with some of the latest tech available. If you're looking for a bit of inspiration for Samsung gift ideas, you've […]

  • By Mihai Matei
  • 2 weeks ago
All the Samsung Black Friday 2024 deals you don’t want to miss

All the Samsung Black Friday 2024 deals you don’t want to miss

Black Friday is here, and Samsung has launched a bunch of fantastic deals everyone should at least check out. Some of them are really quite incredible, like that Galaxy Z Fold 6 deal that shaves $800 off the phone's price with no trade-in. But there's more good stuff on Samsung's e-shop for Black Friday, so […]

  • By Mihai Matei
  • 2 weeks ago
This Samsung Jet stick vacuum deal is actually awesome

This Samsung Jet stick vacuum deal is actually awesome

Samsung offers several Jet Stick cordless vacuum cleaner models, but one that we've had our eyes on for some time is the Jet 75+. It's powerful, has an extra battery, and might be the best vacuum cleaner that can double as a car vacuum. It's also relatively affordable. Speaking of which, Samsung has launched a […]

  • By Mihai Matei
  • 2 weeks ago