SEOUL, Aug. 23 (Korea Bizwire) – Samsung Electro-Mechanics Co., a major electronics parts maker in South Korea, is seeking to sell its Wi-Fi module business again, a company official said Monday, after its previous deal collapsed in May.
“We are in talks with a potential buyer over the sale of our Wi-Fi module business,” the official said on condition of anonymity. “The Wi-Fi module business is operating normally. So far, nothing has been confirmed about the deal.”
Samsung Electro-Mechanics reportedly put its Wi-Fi module business units in South Korea and Thailand up for sale.
The affiliate of Samsung Electronics Co. in January signed a deal to sell its Wi-Fi module business to local electronics parts maker Wits Inc. for 105.5 billion won (US$89.9 million).
But Wits withdrew from the deal in May, citing market conditions and profitability concerns.
Samsung Electro-Mechanics has been trying to offload its non-mainstay businesses in recent years to focus on multilayer ceramic capacitors and high-value semiconductor package substrates.
The company in 2019 sold its panel level package business to Samsung Electronics and mobile wireless power transfer business to Chemtronics Co.