Samsung Electronics Sells Shares in Four Overseas Tech Firms

South Korean tech giant Samsung Electronics Co. said Sunday it has sold shares in four overseas technology firms to focus on its core businesses, adding the sales will not affect its existing partnership with the companies. 
The world's biggest smartphone maker said it has sold half of its 3% share in Dutch semiconductor company ASML Holding NV, a deal estimated at 766.4 billion won (US$681 million). 
Based in the Netherlands, ASML is the world's largest manufacturer by sales of lithography systems, which are used to print circuit patterns on silicon wafers. Samsung is a major client and investor in the company. 
In addition, the Korean firm sold a 4.2% stake in Seagate Technology Plc., an American hard drive manufacturer, and a 4.5% share in Rambus Inc., US-based semiconductor and Internet protocol producer. It also disposed a 0.6% share of Japan's Sharp Corp., which has provided LCD panels for Samsung. 
The company did not disclose the financial terms of the deals, but analysts estimate the recent stock sales to fetch about 1 trillion won for the company grappling with a massive recall of its newest Galaxy Note 7 over faulty batteries. 
"(The share sales) are aimed at focusing on the core businesses," Samsung Electronics said in a statement. "It is part of the customary management activities, which is not related to the partnership with the companies". 
Last week, Samsung Electronics approved the sale of its printer business unit to US personal computer maker HP Inc. as part of its efforts to focus on its mainstay businesses. 
Under an agreement with HP, Samsung said it will source printers from HP and continue to market them in Korea under the Samsung brand.

Source : QNA