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Samsung Electronics is planning to invest US$21 billion in mergers and acquisitions over the next decade to improve its less competitive areas.
Since finding little profit from its takeover of Israeli chip designer TransChip, Samsung is seeking to enter new territory outside of chips and LCDs. The Korean company already maintains a leading edge in the LCD display market, supplying to other electronics leaders like Apple, Sony, Dell and HP, so does not see the need to invest in it further.
The company is also avoiding chips due to failed investment in the past in that area, recently dropping plans to buy memory card manufacturer SanDisk.
“Samsung needs new seeds,” said Samsung Electronics Vice Chairman Choi Gee-sung.
“Samsung Electronics has been in talks with several overseas companies for acquisition deals. As far as I know, the talks are under way for firms that are able to complement in areas where Samsung lacks competitiveness,” said another Samsung executive.
“Overseas companies with core technologies would be our targets,” the executive added.
The company bought a majority shareholding in medical equipment manufacturer Medison. Analysts point this expansion of the company into new territory as a move that parallels General Electric.
Part of Samsung Electric’s large investment will be into green technologies for its future products.
