Lenovo to carve up IBM PC empire
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Healthy or unhealthy, this national dependence on the web has happened in the 10 short years since IBM targeted the domestic consumer with PCs powerful enough to connect with the web.
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Word that IBM is mulling a move to sell its desktop and notebook PC business to China-based Lenovo Group had executives at most of Big Blue&#39;s vendor competitors scurrying to stay out of the limelight until more details of the deal--and final word on
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Lenovo Group Ltd. agreed to pay $1.25 billion for International Business Machines Corp.&#39;s personal computer business, making the Chinese company the world&#39;s third- largest PC maker and giving it a globally recognized brand.
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DECEMBER 07, 2004 (REUTERS) - China&#39;s largest PC maker, Lenovo Group Ltd., could announce as early as today that it is buying control of IBM&#39;s PC-making business for up to $2 billion, a source familiar with the situation said.
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InfoWorld - Lenovo Group has signed a five-year deal with IBM&#160;to provide services and support to its customers. The deal, outlined in a filing with the Hong Kong stock exchange Tuesday, could be worth up to $245 million for IBM over the term of the contract.
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In a highly anticipated announcement, IBM (Quote, Chart) confirmed late Tuesday it is selling its PC division to China&#39;s Lenovo Group.
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Lenovo will pay $1.75 billion for IBM&#39;s PC business unit but will continue to use the IBM brand for five years. By Paul McDougall, and Darrell Dunn.
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Two years ago, I got an inside look at operations at Lenovo Group, the Chinese computing giant that is expected to form a joint venture with IBM to sell PCs worldwide.
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In unloading its personal computer business for $1.75 billion to a Chinese company, IBM managed to keep the division's most profitable pieces -- services and support. The onus is now on buyer Lenovo Group Ltd. to improve the businesses' notoriously thin profit margins, and the skeptics are many.
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US computer giant IBM Corp plans to sell a substantial part of its stake in China's Lenovo, the world's third-largest personal computer group, raising up to 990 million Hong Kong dollars (127 million US).
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Lenovo Group has signed a five-year deal with IBMÂ to provide services and support to its customers. The deal, outlined in a filing with the Hong Kong stock exchange Tuesday, could be worth up to $245 million for IBM over the term of the contract.
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BEIJING - Lenovo Group has agreed to pay US$1.25 billion ($1.75 billion) for IBM&#39;s personal computer business, lifting China&#39;s largest PC maker to third in global rankings and giving it a globally recognised brand.
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Lenovo's acquisition of a business that iconic computer maker IBM pioneered declares China's desire for a place alongside the global corporate elite louder than ever before.
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The landmark PC deal between IBM and the China-based Lenovo Group is expected to lead to a redistribution of OEM desktop- and notebook-PC orders among Taiwan makers, the Chinese-language Economic Daily News (EDN) reported today.
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IBM will sell its once vaunted personal computer business to Lenovo Group Ltd., the leading computer maker in China.-The Washington Post
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HONG KONG/SAN FRANCISCO  - China's largest  personal computer maker, Lenovo Group Ltd., said on Tuesday it  was in acquisition talks with a major technology company, which  a source familiar with the situation said was IBM.
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CHINA&#39;S largest manufacturer of personal computers Lenovo Group has confirmed it is in acquisition negotiations with a major information technology company, widely believed to be IBM.