Seoul, December 30, : .Hanwha Solutions is a South Korean chemical and energy unit.
It announced on Thursday that it will acquire the Samsung Electro-Mechanics telecommunications module business in an attempt to diversify its electronic component sector.Hanwha Solutions and Samsung signed an agreement earlier today.
Hanwha Solutions will now take over the 5G WiFi module and high-speed fifth generation (5G) milimeter-wave (mmWave antenna module divisions, according to a statement.
According to Yonhap news agency, the deal will allow Hanwha Solutions to expand its modules business.
This includes components for connected devices that are used in cars like infotainment systems and advanced driver assistance systems.
Hanwha Solutions stated that it would also be looking to expand its reach into rapidly-growing markets like wireless earbuds, components for virtual reality and artificial realities devices.
Hanwha reports that the two sides intend to conclude the takeover by March 2020.
na/
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