March 09, 1998 in Social Responsibility News

SAMSUNG Electronics, Lexmark International form Strategic Alliance for Printers

SEOUL, Korea - March 09 1998 - Samsung Electronics Co., Ltd., announced that it has established a strategic alliance with Lexmark International, Inc. for the inkjet printer business; the US-based Lexmark is a leader in the world printer market.

Hee-Joon Park, the President of the Information & Communications Business of Samsung Electronics, and Bernard Masson, the President of Lexmark International Inc., signed a contract covering high-end inkjet production and related issues at Samsung's corporate headquarters.

The main contents of the agreement are the following:
(1) Samsung Electronics will produce and export US$150 million inkjet printers on an OEM basis. (2) Both companies will share inkjet printer manufacturing technology with one another.

The first time that a single export of Korean-made printers have exceeded US$100 million, Samsung Electronics can gain cutting-edge inkjet printer technology from Lexmark International, and at the same time, obtain opportunities to expand its own printer exports. Lexmark on the other hand, can take advantage of Samsung's sophisticated printer manufacturing technology and experience.

The strategic alliance between the two companies, came as a result of Samsung*s well received recognition for its quality and performance from the Business Equipment Users Association(BEUA) of the UK, and at the CeBIT consumer electronics show.

Samsung concluded a US$40 million laser printer export contract with Xerox in January, and coupled with the Lexmark agreement, Samsung will have reached a total of US$190 million in exports (obtained in printers) this year; now company official are confident that Samsung will exceed its US$500 million target for printer exports during 1998.

Lexmark has been pursuing the printer business with Samsung Electronics since 1995. Also for several years, Samsung has also cooperated with Hewlett-Packard and Xerox in printer technology and production.

Based on its current exportt agreements with Xerox and Lexmark, Samsung has a good chance in making printers one of its major product lines. The company's printer-related technology can also be applied to plain paper fax machines and multi-purpose electronics products, boosting the international competitiveness of a wide range of products with printing capabilities.

Samsung Electronics Co., Ltd., a US $19 billion flagship company of Korean-based the Samsung Group, is a world leader in electronics, with operations in more than 60 countries.

CONTACT:Jean Youn / Assistant Manager
Corporate Communications
Samsung Electronics Co., Ltd.
Tel. (82-2-727-7838/7823)

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