IBM Sells PC Unit to China's Lenovo
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China's largest personal computer maker, Lenovo Group Ltd. (0992.HK), said on Wednesday it is buying control of IBM's PC-making business for &#36;1.25 billion, capping the U.S. tech giant's gradual withdrawal from the business it helped pioneer in 1981.
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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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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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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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IBM's personal computer business, which it is selling to Lenovo Group of China, has lost money for the past 3 1/2 years.
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IBM&#39;s decision this past week to sell a majority stake in its personal computer business to Lenovo Group, a vendor based in China, for $1.75 billion in cash, stock, and debt assumption, is
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Lenovo Group, China&#39;s personal computer giant, Wednesday signed a definitive agreement with IBM to acquire Big Blue&#39;s personal computer
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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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Hong Kong, December 7: China&#39;s largest personal computer maker, Lenovo Group Ltd, could announce as early as Tuesday that it is buying control of IBM&#39;s PC-making business for up to US$2 billion, a source familiar with the situation said.
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IBM reportedly is selling its personal computer business for some $2 billion, possibly to China&#39;s Lenovo. Big Blue currently ranks a distant third in PC sales with a 6 percent market share, trailing
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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&#39;s (IBM.N: Quote, Profile, Research) PC unit piled up nearly $1 billion in cumulative losses in recent years, the company said in a filing on Thursday detailing the planned sale of the business to China&#39;s Lenovo Group.
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IBM Corp. is selling its personal computer business to China&#39;s largest PC maker in a $1.25 billion deal that marks the end of an era for the company that made &quot;PC&quot; a household word.
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This week, IBM said it is selling off most of its PC division to Lenovo, China&#39;s No. 1 PC maker. The news is likely to rattle IBM customers - but it may end up benefiting them long term.
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BEIJING/SAN FRANCISCO  - China's largest personal  computer maker, Lenovo Group Ltd. 0992.HK, said on Wednesday  it is buying control of IBM's PC-making business for $1.25  billion, capping the U.S. tech giant's gradual withdrawal from  the business it helped pioneer in 1981.
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IBM's decision to sell its PC business to China's Lenovo Group Ltd. underscores the challenges manufacturers face in the modern PC business, even for a company synonymous with the product.
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A Chinese company has become the third largest PC seller in the world by buying IBM&#39;s personal computer business. Lenovo has bought the business for USD 1.25 billion, of which USD650m is in cash and the rest in Lenovo shares.