Report: IBM Exiting PC Business
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IBM (IBM:NYSE - news - research) is reportedly ready to exit the PC business, having long lost its dominance in the arena. The report said Lenovo Group, China&#39;s top PC company, is among the interested bidders.
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The immediate future of the computer industry -- and its biggest players -- took center stage Tuesday after IBM announced it is selling its PC business to a Chinese technology giant.
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IBM (IBM.N: Quote, Profile, Research) is reportedly in talks to sell its personal computer business in a deal that could be worth up to $2 billion and would cap a
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This week, IBM said it is selling off most of its PC division to Lenovo, China's No. 1 PC maker. The news is likely to rattle IBM customers - but it may end up benefiting them long term. USA TODAY reporter Michelle Kessler answers some questions many IBM customers are asking:
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IBM appears close to signing a deal to turn its PC business over to Lenovo Group of China. Industry experts say it makes sense for IBM to get out of the low-margin PC business, but caution that
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IBM may need to do some creative deal making in order to sell PC business to China&#39;s Lenovo. By Robert Cyran, Breakingviews. LONDON (Breakingviews) - It&#39;s no surprise IBM is in talks to sell its PC business
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San Francisco, December 4: IBM is reportedly in talks to sell its personal computer business in a deal that could be worth up to $2 billion and would cap a gradual withdrawal from the business it helped to pioneer in 1981.
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IBM&#39;s possible exit from the personal-computer business would be the latest move in what amounts to a long goodbye from a field it pioneered and revolutionized.
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HONG KONG/SAN FRANCISCO  - IBM is selling its  PC-making business to China's largest personal computer  company, Lenovo Group Ltd., for $1.25 billion, marking the U.S.  firm's retreat from an industry it helped pioneer in 1981.
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IBM Corp. and LG Electronics Inc. will end their eight-year joint venture company, LG IBM PC Co., by the year&#39;s end, according to an Associated Press report.
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IBM yesterday sold its personal computer business to China&#39;s leading manufacturer, Lenovo, in a deal that reflects the profound changes taking place in the economic world order and marks the end of an era for one of America&#39;s most iconic companies.
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Two weeks ago Reuters released an article suggesting that the PC industry was on the decline. The story referenced a report from technology research company Gartner, which had previously
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Late Tuesday, IBM announced that it&#39;s selling its PC business to Lenovo Group Limited, the leading PC brand in China. IBM&#39;s current PC business ranks a distant third behind Dell and HP
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IBM has sold its computer making business to Lenovo Group, the Chinese technology company, in a $1.75 billion (Â£900 million) deal, signalling an exit from the PC market it helped create in the 1980s.
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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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(InfoWorld) - IBM sold off a chunk of its stake in Lenovo Group, leading the world's third-largest PC vendor to temporarily suspend trading of its shares in Hong Kong on Tuesday. Lenovo spokeswoman Angela Lee said IBM had informed the company it planned to sell a large block of shares but had not provided specific details of the transaction. IBM did not immediately respond to a request for comment. "The trading of Lenovo's shares has been suspended at our request, pending the release of an announcement ... relating to the placing of Lenovo's shares by IBM," Lee said. At 2:40pm local time Tuesday afternoon, trading of the company's shares remained suspended. IBM did not respond to a request for comment. Lenovo's shares were trading at HK$3.20 (US$0.41) per share when they were suspended, a drop of 7 percent from the previous day's close. That price matches the reported selling price IBM received for its shares, which were offered to investors at a discount, according to several press reports Tuesday. Citing information offered to investors, those reports said IBM sold 300 million shares in Lenovo Group in a sale worth HK$960 million (US$123 million). IBM, whichÂ sold its PC division to LenovoÂ in 2005, has gradually reduced its stake in Lenovo since that deal. A further sale of shares would be in keeping with the company's stated plan to sell down its stake in Lenovo. Prior to the reported sale, IBM held a 13.2 percent stake in Lenovo, making it the company's second-largest shareholder. The sale of shares -- estimated at 3.5 percent of Lenovo's total shares -- will reduce IBM's holdings to 9.7 percent of the company. While IBM reduces its stake in Lenovo, the two companies remain close partners. Lenovo Tuesday announced the signing of a five-year agreement forÂ IBM to provide technical support, installation, deployment and other PC-related services to its customers. The deal could be worth up to US$245 million to IBM, Lenovo said in a filing to the Hong Kong stock exchange. Â
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US technology giant IBM is selling its personal computing business to China&#39;s biggest PC maker. The deal highlights China&#39;s growing economic clout and global reach.