Aims to become top tier digital camera brand by 2012.
SEOUL, Korea - Samsung Electronics Co., Ltd. announced it is seeking to merge with Samsung Digital Imaging Co., Ltd. as part of a move to become a global leader in the digital camera business. The merger, expected to be signed on Jan. 22, 2010, will go into effect from April 1, 2010, once the transaction is approved at the shareholders meeting, according to a resolution made after a board of directors meeting on Dec. 15.
Under the agreement, the Samsung Digital Imaging will be absorbed into Samsung Electronics, as a business unit responsible for digital cameras, camcorders, and optical devices. The merger ratio of the two companies is to be Samsung Electronics: Samsung Digital Imaging = 1:0.0577663.
“We hope to make Samsung a world-leader in digital imaging, matching the success our brand enjoys today in mobile and digital TVs,“ the company said.
The union will enable the digital imaging business to utilize and maximize the key components, system and software technology, and design competitiveness of Samsung Electronics. By maximizing Samsung Electronics’ global marketing capabilities and sales network, the company aims to become a top-tier brand in digital cameras by 2012, with a market share of 20 percent and sales of 5 trillion won annually.
Samsung Electronics can also benefit by maximizing Samsung Digital Imaging’s optical technology, applying the technology to other businesses such as camera phones, and printer businesses.
About Samsung Electronics
Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2008 consolidated sales of US$96 billion. Employing approximately 164,600 people in 179 offices across 61 countries, the company is recognized as one of the fastest growing global brands. Samsung Electronics is a leading producer of digital TVs, memory chips, mobile phones and TFT-LCDs. For more information, please visit www.samsung.com.
About Samsung Digital Imaging
Samsung Digital Imaging Co. Ltd. is a leader in photo imaging technology, digital cameras and optical devices. The company offers a range of high-performance digital compact and DSLR cameras, introducing cutting-edge features to meet consumer needs. Samsung began developing film cameras in 1979 and has led the growth of the digital imaging market through its advanced technology and innovation. For more information, please visit www.samsungcamera.com
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