Samsung subsidiary Samsung Electro-Mechanics could sell its wireless business as early as November, according to the latest report from South Korea. A total of nine companies are said to have expressed an interest in the purchase, but now only two are said to be in the game.
The report does not name specific potential buyers, but the preferred bidder could be revealed to the public before the end of the month. According to analysts at one of South Korea's largest investment banks, KB Securities, Samsung Electro-Mechanics is asking for more than 100 billion won (approximately 2 billion crowns) for its Wi-Fi division.
As the report notes, the selected buyer will not only acquire the Samsung subsidiary's Wi-Fi division, but also more than 100 of its current employees. In addition, the transaction will likely allow potential buyers to then sell Wi-Fi modules to the South Korean tech giant's own mobile business, which could be a particularly tempting prospect for them.
The reasons why Samsung Electro-Mechanics wants to sell the wireless communication division are not entirely clear, according to the report, but they could be related to the fact that the company was unable to report a profit from the sale of Wi-Fi modules to its sister company. Be that as it may, this business only accounts for around 10% of the subsidiary's sales, so a large part of it will remain untouched after the "deal".
