The following appears on venturebeat.com
Following the Q3 earnings announcement yesterday, Samsung held an extraordinary general meeting of shareholders, as scheduled, seeking shareholder approval for two key decisions.
Last month, Samsung announced that it planned to divest its printing business to HP for around $1 billion, and shareholders have now given their approval ahead of the planned spin-off on November 1, according to the Korea Herald.
“The decision was made in the context of Samsung Electronics’ commitment to an on-going reorganization of business units in order to further concentrate on core competencies and to maximize competitiveness,” said Samsung CEO Oh-Hyun Kwon, in a statement. “Going forward, the Company will continue along this path of focusing on what it does best.”