IBM Selling PC Unit to China's Lenovo
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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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Chinese PC vendor Lenovo announced its acquisition of IBM&#39;s Personal Computing Division (PCD) for a combination of cash and stock totaling US$1.25 billion.
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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.
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Ziff Davis - IBM's decision to sell its PC business to Chinese computer maker Lenovo Group Ltd. is offering lessons both in how to expand into emerging markets and how federal regulators will view such deals.
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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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IBM, the pioneer of the personal computer, is selling its PC hardware business to number one Chinese computer maker Lenovo.
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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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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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On 7 December 2004, IBM and China&#39;s Lenovo announced that Lenovo will acquire IBM&#39;s PC business for a total of $1.75 billion in cash and shares.
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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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Hundreds of IBM employees at Research Triangle Park will soon be working for a new company. The Chinese computer giant, Lenovo Group, is buying IBM&#39;s personal computer division for nearly $2 billion.
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IBM, the company that invented the PC, has put its PC business up for sale, according to the New York Times, and is in discussions with China&#39;s largest maker of personal computers, Lenovo Group (formerly Legend Group), and at least one other potential
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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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IBM is expected to announce Tuesday after the close of the market an historic pact to sell its $11.5 billion PC business to China PC giant Lenovo, sources said.
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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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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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For China, the country&#39;s biggest computer supplier buying out a unit of IBM is more than just a business deal. Lenovo Group&#39;s decision to purchase IBM&#39;s PC group for $1.75 billion could be