Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News

Hanwha Acquires Samsung Electro-mechanics’ Telecom Module Biz

Meet the voice behind Indo-Asian News Service (IANS), a storyteller navigating the currents of global events with precision and depth. Crafting narratives that bridge cultures, IANS brings you the pulse of the world in every word

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

Hanwha Solutions, a chemical and energy unit of South Korean conglomerate Hanwha Group, said on Thursday it is acquiring the telecommunication module business of Samsung Electro-Mechanics in a bid to diversify its electronics component sector.

Under the agreement signed between the two companies earlier in the day, Hanwha Solutions will take over the WiFi module and the high-speed fifth-generation (5G) millimeter wave (mmWave) antenna module divisions from the Samsung unit, it said in a statement.

The deal is expected to help Hanwha Solutions further expand into the modules business, especially the components for connected devices used in automobiles, such as infotainment and advanced driver-assistance systems, reports Yonhap news agency.

With the acquisition, Hanwha Solutions said it will also seek to tap into fast-growing markets such as wireless earbuds and components for virtual reality and artificial reality devices.

According to Hanwha, the two sides plan to complete the takeover by the end of March next year.


Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic