Samsung Electronics Co., Ltd.
and Apple Inc. will merge as a $9 billion joint venture, according to a regulatory filing with the U.S. Securities and Exchange Commission.
The filing with a California state regulator on Monday said Samsung will acquire Apple Inc.’s handset and camera business and the other business, including digital signage, video production, and retail.
It did not say how much the deal will cost.
The move by Samsung is a potential milestone for the smartphone and tablet business, which has been among Apple’s biggest growth areas in recent years.
The company is expected to report quarterly earnings in March that beat analysts’ estimates by a year.
The merger is likely to be approved by a California court, which is expected later this year.
Apple is expected also to file for a trademark for “Samsung” and the Samsung name in California, the filing said.
