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General

HYUNDAI SELLS DVD BUSINESS TO DVS

Monday 18 May 1998 | 00:00 CET | News
Hyundai Electronics Industries has seen Digital Video Systems (DVS) acquire its DVD business for an undisclosed sum. DVS has established DVS Korea as part of the deal. DVS plans to acquire Hyundai's DVD manufacturing capabilities, R&D team and management team. Sung Hee Lee, a senior executive at Hyundai, will join DVS Korea as managing director. The acquisition will allow DVS to produce DVD-ROM products almost entirely, requiring only optics components to be sourced from elsewhere. The current monetary situation in S Korea has forced Hyundai to concentrate on its core memory chip business.

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Categories: General
Countries: Korea, Republic of
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