In response to recent news from South Korean media about Samsung Electronics’ consideration of the acquisition of NXP, Samsung Electronics has publicly stated that it has not discussed the acquisition of NXP.

On March 7, according to the financial media “Invest Chosun” of the Korea Daily, Samsung Electronics recently prepared an internal report on the acquisition of NXP Semiconductors, the project was reviewed by a team led by President Chung Hyun-ho and Vice President Ahn Joong-hy. In addition, Sohn Young-Kwon, president of Samsung Electronics’ strategic planning department, met with NXP CEO Rick Cleemer last month.

Samsung Electronics responded that the news of the acquisition of NXP was not true and there was no internal discussion for the acquisition. Samsung emphasizes that Sohn Young-Kwon and Rick Cleemer used to work in a company, they are friends and often meet in person. The meeting has nothing to do with mergers and acquisitions.