Samsung today announced that its Gwangju Electronics that makes refrigerators, washing machines, air conditioners, vacuum cleaners etc. will be absorbed by Samsung Electronics. The move is to gain manufacturing competitiveness and increase operational efficiency of the home appliance business.
Samsung Gwangju Electronics will hold a meeting on October 29, 2010 to approve the merger and will be officially merged next year in January.
Early this year, Samsung also merged its Digital Imaging business with Electronics.