By Min-Jeong Lee
SEOUL-- Samsung Electronics Co. said Tuesday it will sell its
fiber optics business to U.S. specialty glass manufacturer Corning
Inc., as the company bids to streamline operations to focus on core
business areas.
The terms of the deal, including the value, weren't disclosed.
Optical fibers can be used for making network cables.
The sale includes Samsung's manufacturing base for optical fiber
materials in Korea and China, said a company spokesman. The deal
will be completed by the first quarter of 2015 following necessary
regulatory approvals, he said.
Samsung is the world's largest maker of smartphones, TVs and
memory chips.
South Korea's Samsung Group has been restructuring its business
units in recent months ahead of an expected leadership
succession.
Last week Samsung said it would sell controlling stakes in its
chemical and defense units to another Korean conglomerate, Hanwha
Group, for 1.9 trillion won ($1.7 billion).
Write to Min-Jeong Lee at min-jeong.lee@wsj.com
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