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SEOUL, South Korea, Jan. 5, 2022 /PRNewswire/ -- Hanwha Solutions has pledged to make a foray into the fast-growing wireless module and broader System in Package(SiP) market amid the burgeoning demand for wireless earbuds, VR/AR devices and connected vehicles.
The Company announced on Dec. 30 that it signed an agreement with Samsung Electro-Mechanics to acquire its wireless module business unit, which manufactures Wi-Fi and 5G mmWave antenna modules using organic substrate. The deal is expected to be closed by late March in 2022.
Samsung Electro-Mechanics boasts technological prowess for designing advanced Wi-Fi modules with high-density packaging solutions and rigorous testing capabilities. It has accumulated design-to-manufacturing capabilities in coordination with suppliers all over the world.
"Combining Samsung Electro-Mechanics' wireless module design-to-manufacturing capability with Hanwha's global business network will inevitably create significant business opportunities," said Hanwha Solutions' Senior Executive Vice President Jang Se Young.
Jang, who worked at Samsung Electronics before joining Hanwha in April 2021, added, "Incorporating high-growth SiP business into our electronics business portfolio, we are seeking to pursue sustainable growth with prospective businesses and talented workforce."
Hanwha Solutions, which aims to deliver sustainable solutions for the planet through smart energy solutions and customer-focused materials, has been expanding its business horizon by venturing out into fast-growing high-tech industries.
The acquisition is expected to accelerate the Company's expansion into the module business for high-tech devices. Moving beyond traditional smartphone-based wireless modules, it aims to apply them to wireless earbuds, VR/AR devices and automotive electronic devices.
Given the remarkable growth for the internet of vehicles, in-car entertainment and advanced driver assistance system, the demand for wireless modules in the automotive electronics market is expected to grow significantly.
About Hanwha Solutions.
Hanwha Solutions aims to deliver sustainable solutions for the planet through smart energy solutions and customer-focused materials. The Company operates its business through five divisions: Q CELLS, Chemical, Advanced Material, Galleria and City Development. The Q CELLS Division offers total energy solutions from photovoltaic module manufacturing, power plant operation to electricity retailing service. The Chemical Division, the first in Korea to produce polyvinyl chloride (PVC), manufactures various petrochemical products and eco-friendly plasticizers. The Advanced Materials Division produces high-tech materials for automotive, photovoltaic and electronic devices. The Galleria Division, an operator of premium department store chain, provides premium fashion and food services. The City Development Division is a leading real estate developer specializing in industrial complexes. With its innovative technologies for sustainable growth, Hanwha Solutions strives to become a global leader in bringing a better future for humanity.
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