Samsung's Cheil sells fashion unit to focus on electronics

SEOUL (Reuters) - Cheil Industries Inc, a unit of South Korea's biggest business conglomerate Samsung Group, said it would sell its fashion business to unlisted affiliate Samsung Everland in a strategic shift to focus on electronics materials. The 1.05 trillion won ($968.6 million) asset transfer comes as Samsung Group seeks to tighten its grip on electronics components and materials and ensure easy access to the latest technology as it battles global rivals such as Apple Inc in the rapidly changing mobile industry. ...



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