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HP sells laser printer business to Foxconn?

HP sells laser printer business to Foxconn?

May 10, 2021

HP is to reportedly sell its Chinese laser printer business to the Taiwanese company Foxconn. In the process upsetting 20 South Korean suppliers in the process.

According to local sources, HP recently signed a contract with Foxconn to sell its laser printer manufacturing subsidiary in Weihai that HP acquired four years ago when it bought the Samsung printer business. Foxconn is supposed to purchase the plant and produce products for supply to HP.

The contract includes component production by Foxconn. Specifically, Foxconn will produce the four components, including PBA and assembly on its own.

Twenty or more HP suppliers that have ramped up supplies by 40% in recent years were shocked by the news and issued a joint statement asking HP to maintain the current supply chain. HP is reported to have asked the companies to work well together with Foxconn.

In April, news emerged of HPs plans to move its laser printer production from its Weihai, China base. The report says that production will be undertaken by Foxconn Electronics (Hon Hai) from the fourth quarter in 2022.

Categories : City News

Tags : China South Korea Foxconn HP Samsung

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