IBM Said to Be Leaving the PC Business
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The company that has been synonymous with the term &quot;PC&quot; since it was first created is getting out of the PC business. According to a report in the New York Times, IBM is in talks with China&#39;s largest maker
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BEIJING: IBM is selling its personal computer making business to China&#39;s largest PC producer, Lenovo Group Ltd, for US$1.25bil, marking the US giant&#39;s retreat from an industry it helped pioneer in 1981.
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IBM, which revolutionised the global computer industry when it launched its first desktop in 1981, has sold its PC business to a Chinese group in a $1.75bn (Â£900m) deal, it was confirmed today.
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IBM, whose first PC in 1981 moved personal computing out of the hobby shop and into the corporate and consumer mainstream, has put the business up for sale, people close to the negotiations said Thursday.
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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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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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IBM IBM.N is looking to sell  its personal computer business in a deal that could be worth up  to $2 billion, The New York Times reported on Friday, capping a  gradual withdrawal from the business it pioneered.
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Following days of rumors, IBM late Tuesday made it official: the company said it was spinning off its personal computer business with the Lenovo Group, China&#39;s biggest maker of personal computers.
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IBM (NYSE: IBM) is selling its PC business, marking the end of an era for the personal computing pioneer, according to a story published today in the New York Times. The report was not verified by IBM, which could not be reached for comment this morning.
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Company discontinues many consumer electronics lines to focus on PCs--and profitability.
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IBM is selling its PC-making business to China's largest personal computer maker, Lenovo Group Ltd., for &#36;1.25 billion, marking the U.S. giant's retreat from an industry it helped 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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International Business Machines&#39; possible exit from the personal computer business would be the latest step in what amounts to a long goodbye from a field it pioneered and revolutionized.
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BEIJING/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.  company's retreat from an industry it helped pioneer in 1981.
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IBM is discussing selling its PC business to Lenovo Group Ltd., China's largest maker of personal computers, and at least one other potential buyer, according to The New York Times.
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IBM has gained a crucial foothold in China by selling its PC business to Lenovo, the countryâs biggest computer maker, for $1.75 billion (Â£900 million) in cash, shares and debt.
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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.