IBM sells its PC business to Chinese firm
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The largest computer company in China, the Lenovo Group, has bought a majority stake in the PC-making business of the multinational IBM.
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China's biggest computer maker, Lenovo Group, said Wednesday it has acquired a majority stake in International Business Machines Corp.'s personal computer business for &#36;1.75 billion, one of the biggest Chinese overseas acquisitions ever.
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China&#39;s largest manufacturer of personal computers, Lenovo Group, has bought IBM&#39;s PC business for $1.25 billion, making it the world&#39;s number three in the sector.
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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 is selling its PC hardware business to number one Chinese computer maker Lenovo.
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InfoWorld - IBM sold off a chunk of its stake in Lenovo Group, leading the world&#39;s third-largest PC vendor to temporarily suspend trading of its shares in Hong Kong on Tuesday.
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The deal makes the Chinese company the world&#39;s third biggest PC maker and pushes IBM to the sidelines of a field it once ruled.
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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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Dec. 3--NEW YORK -- International Business Machines Corp. is negotiating with Lenovo Group Ltd. to sell its personal computer business to China&#39;s largest PC maker, the New York Times reported Friday.
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International Business Machines Corp. is selling a majority stake in its pioneering personal computer business to China's biggest computer maker, Lenovo Group Ltd., for &#36;1.75 billion in cash and stock.
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IBM is in talks to sell its personal computer manufacturing business which, if successful, would mark the end of an era in the brief history of the PC, a machine the company helped to invent.
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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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IBM's decision to sell its personal computer business to China-based Lenovo gives the world's third-largest nation the distinction of housing what will soon be the world's third-largest PC maker. On a deeper level, the deal also marks a changing of the guard in the PC business and rearranges the game board for rivals Dell and Hewlett-Packard.
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IBM (IBM) said Tuesday that it would sell its PC business to Lenovo, China&#39;s No. 1 PC maker, in a $1.75 billion deal that marks the end of an era.
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IBM Corp. has put its PC business up for sale, according to a story published on Friday on the Web site of The New York Times.
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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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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.