IBM quits PC manufacturing in Â£900m deal
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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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BEIJING - China&#39;s largest personal computer maker, Lenovo Group Ltd, announced on Wednesday that it is buying control of IBM&#39;s PC-making business for US$1.25 billion, capping the US tech giant&#39;s gradual withdrawal from the business it helped pioneer in
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China's Lenovo Group Ltd. has agreed to acquire IBM's personal computing division for $1.25 billion in cash and equity, a move expected to transform it into the world's No. 3 PC maker.
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Two decades after it virtually invented the personal computer industry, IBM yesterday sold out to the Chinese government. The deal, which IBM hopes will leave
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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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I.BM announced late yesterday the sale of its personal computer business to Lenovo, China&#39;s largest personal computer maker, a deal that reflects the industrial and economic ambitions of not only the two companies but also their two nations.
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The landmark PC deal between IBM and the China-based Lenovo Group is expected to lead to a redistribution of OEM desktop- and notebook-PC orders among Taiwan makers, the Chinese-language Economic Daily News (EDN) reported today.
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LONDON -- PC World, Britain's largest chain of computer superstores, will say goodbye to floppy disks once the current stash is gone.
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Lenovo, China&#39;s largest personal computer maker, will pay US$1.75 billion (HK$13.65 billion) in cash, stock and assumed debt for IBM&#39;s struggling PC operations in a move that will make it the world&#39;s third-biggest PC manufacturer and fulfil its long-held
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IBM is reducing its ownership of Lenovo, from a 13% share to around 10%, as Lenovo also announced that IBM will provide service and support to Lenovo's customers.
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COMPUTER bellwether IBM has signed a seven-year, Â£500 million contract with Lloyds TSB to supply the UK bank with internet telephony and data services.
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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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An era will come to an end when IBM sells off its computer manufacturing business, according to The New York Times. A Chinese company seems the likely buyer and the deal should fetch upward of $2 billion.
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IBM said late Tuesday that it will sell its personal computer division, transferring an iconic brand to a Chinese rival that also will absorb about 2,000 local workers.
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InfoWorld - Lenovo Group has signed a five-year deal with IBM&#160;to provide services and support to its customers. The deal, outlined in a filing with the Hong Kong stock exchange Tuesday, could be worth up to $245 million for IBM over the term of the contract.
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China&#39;s personal computer giant Lenovo Group Limited Wednesday signed an agreement with IBM to take over the latter&#39;s personal computer business for 1.25 billionUS dollars.
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IBM is considering pulling out of the personal computer business it founded - a sign of a big change in the way companies buy computers and a shift of power in the PC industry.