HP in Talks to Buy Samsung Venture

Hewlett-Packard Co. said it is in talks to buy all or part of its joint venture with Samsung Group, the troubled South Korean conglomerate that is selling some of its businesses to reduce debt. The HP Korea venture sells computers and printers, and makes power-supply devices for electronic equipment. Samsung said it is also in negotiations with General Electric Co. to sell its medical equipment joint venture in South Korea. HP Chairman Lewis Platt said in March that the company plans to invest about $300 million in South Korea this year. The world’s second-largest computer company is taking advantage of the weak South Korean currency to invest cheaply in a part of the world that is one of the fastest-growing technology markets in Asia and is expected to rebound. The talks between Palo Alto-based HP and Samsung are in an “advanced” stage, said HP spokesman Brad Whitworth. He declined to comment on when an announcement might come regarding a purchase. Samsung owns Irvine computer maker AST Research, which has undergone a substantial downsizing in recent years. It isn’t clear if Samsung is planning to unload AST. Shares of HP fell 94 cents to close at $74.38 on the NYSE.