Kemtronics Terminates Contract to Acquire Samsung Electro-Mechanics Wi-Fi Module Business
[Asia Economy Reporter Minji Lee] Kemtronics announced on the 28th that its subsidiary Witz has decided to cancel the stock transfer agreement signed to acquire the Wi-Fi module business from Samsung Electro-Mechanics. The business and stock transfer payment amount is approximately 105.5 billion KRW.
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The company stated, "We confirmed that the Wi-Fi module market is rapidly changing, increasing the possibility of profitability deterioration," and added, "Both parties mutually agreed to return the contract deposit already paid."
This content was produced with the assistance of AI translation services.
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